RCom’s resolution plan to sell Rs 23,000 cr assets filed before NCLT

Resolution professional of Reliance Communications has approached the National Company Law Tribunal with a resolution plan approved by the creditors of the telecom firm under the insolvency and bankruptcy code, according to a regulatory filing.

The plan entails realisation of around Rs 23,000 crore from sale of RCom assets and clawback of money paid to some of the lenders.

“Resolution professional has duly filed the resolution plan as approved by the CoC (committee of creditors) of each of the aforesaid companies with the Hon’ble National Company Law Tribunal, Mumbai Bench on March 6, 2020 in accordance with Section 30(6) of the Insolvency and Bankruptcy Code, 2016,” RCom said in a BSE filing.