RCom to repay NCD holders only via NCLT

Reliance Communications (RCom) said the telco and its units will pay principal and interest on non-convertible Debentures (NCD) only post the debt resolution process as directed by National Company Law Tribunal (NCLT).

“…the payment of NCD shall be in the terms of and subject to the said resolution through NCLT,” said the debt-laden telco in a regulatory filing on Thursday.

The said NCDs are due to mature on March 1, this year .

RCom had informed on November 6, 2017, January 5, February 9, 2018 and January 23, 2019 about not fixing any record date for payment of principal and interest on the NCD till completion of restructuring process.