RCom shareholders vent ire over bankruptcy

Investors’ concerns on the future of the bankrupt Reliance Communications dominated the companys yearly shareholder meet on Monday.

This was the first such annual general meeting to be addressed by the court-appointed resolution professional after the company filed for bankruptcy.

Anish Nanavaty of consultancy firm Deloitte, the RP, informed the shareholders that the National Company Law Tribunal (NCLT) has granted an additional three months to complete the corporate resolution process, which will now have to be completed by January 10 next year.

The bids for the company are in the process of getting invited and there will be a preference for a single bidder to pick up the entire company, Nanavaty said.