Anil Ambani hasn’t given up: RCom still fighting to sell spectrum outside bankruptcy

Billionaire Anil Ambani’s telecom unit is still fighting to get approval for the sale of its airwaves, indicating that the company hasn’t given up on selling the assets outside India’s bankruptcy process.

India’s Telecom Disputes Settlement and Appellate Tribunal on Monday heard arguments on Reliance Communications Ltd.’s petition to allow it to sell its airwaves without past liabilities from the asset being passed to the buyer. The issue was behind the unraveling of RCom’s deal to offload its assets to Reliance Jio Infocomm Ltd., owned by Anil’s older brother. The case will next be heard on Feb. 26.