![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India<\/a> (RBI) is unlikely to permit asset reconstruction firm UVARCL<\/a> buying RCom’s spectrum and other assets under a resolution plan, the people said.
\"There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”
In the Aircel case, RBI denied UVARCL<\/a> permission to buy Aircel’s assets for flouting norms under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. The RBI decision came even after the National Company Law Tribunal<\/a> (NCLT) had approved the Aircel resolution plan. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company at the resolution stage.
Concerns were raised by a few bankers in a recent meeting, another person in the know said.
“Some lenders had brought up the issue of rebidding and whether and how it could be done legally. There is also fear that such a step could create legal trouble from the existing buyers,” the person said.
RCom’s committee of creditors (CoC) cleared the resolution plan in March 2020, which would have seen UVARCL buy all assets, including spectrum, under RCom and Reliance Telecom<\/a>, and a Reliance Jio<\/a> unit the company’s towers housed under Reliance Infratel<\/a>. The plans were filed in the NCLT a few days later. While the NCLT has cleared the tower sale to Jio, it has not cleared the transfer of the other assets to UVARCL yet. The tower sale, though, has not yet been implemented, with Jio recently approaching the NCLT with fresh concerns.
The delay is rapidly eroding the value of the assets, especially spectrum, further depleting the amount the lenders were hoping to recover, said people aware of the developments.
Under the resolution plan, UVARCL is expected to pick up RCom’s spectrum for Rs 12,760 crore, with the total recovery expected to be in the Rs 20,000-23,000 crore range against claims of Rs 57,382 crore, a roughly 65% haircut for lenders. Jio is to buy the towers for nearly Rs 5,000 crore.
RCom and Deloitte did not respond to ET's queries. Lead banker SBI, with an exposure of over Rs 4,800 crore, also did not respond to ET's queries.
Read also<\/h4><\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-authors="[" devina sengupta","saloni shukla","sachin dave"]" data-category-name="" data-category_id="" data-date="2021-07-07" data-index="article_1">
- Telecom乐动扑克News
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银行讨论选择邀请新的竞购信实电信资产和解决专业
电信的银行,2019年5月申请破产,担心类似Aircel情况下,印度储备银行(RBI)不太可能允许资产重建公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
孟买:组成的一个财团信实电信为首的”(RCom)银行印度国家银行与决议举行了讨论专业德勤是否重新招标的破产电信的资产是一个选项,知情人士说。
电信的银行,2019年5月申请破产,担心类似于Aircel情况下,印度储备银行(RBI)不太可能允许资产重组公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
“有非正式讨论债权人在决议计划的可行性及其单位RCom一直延迟无可估量,“知道的银行官员说。“一些银行觉得报价应该熄灭了。”
Aircel情况下,央行否认UVARCL允许购买Aircel藐视准则下的资产Sarfaesi(金融资产的证券化和重建和执行证券利息)的行为。即使在印度央行作出了决定国家公司法法庭(NCLT)已经批准了Aircel决议计划。根据Sarfaesi行为、资产重建公司无法注入股本一家破产公司在解决阶段。
问题是由几个银行家在最近的一次会议上,另一个人知道说。
“一些银行提出的问题重新招标,是否合法,以及它如何能做。也有担心此举可能产生法律上的麻烦从现有买家,”这个人说。
信实电信的债权人委员会(CoC)扫清了决议计划2020年3月,它就会看到UVARCL购买所有资产,包括频谱,信实电信和信实电信和一个依赖Jio单位公司的大楼下鼓吹他的依赖。的计划被提出NCLT几天后。虽然NCLT扫清了塔Jio出售,它没有了其他资产的转让UVARCL。塔出售,尚未实现,Jio最近接近NCLT新鲜的担忧。
延迟是迅速侵蚀的价值资产,特别是谱,进一步消耗银行希望恢复,说,人们意识到发展。
根据决议计划,预计UVARCL捡12760卢比的频谱RCom总复苏预计将在20000 - 23000卢比的范围的57382卢比,银行约65%的发型。Jio是购买塔近5000卢比。
和德勤RCom没有回应等的查询。导致印度国家银行的银行家,超过4800卢比的接触,也没有回应等的查询。
“在鼓吹他的情况下,该计划已通过有关裁决权威(NCLT),涉众的CoC是受批准订单,“说Nakul Sachdeva,合伙人L&L伙伴。
他补充说,如果塔决议计划没有实施,CoC可以启动适当的行动反对该决议申请人(RA) -在这种情况下Jio也寻求救济的新鲜NCLT进行投票或呼吁其他决议计划。
“关于信实电信和CoC RCom已经批准的计划,因此,他们现在可以继续新的投标是否会再次完全取决于RFRP的内容(要求决议计划)文档和肯定的决定有关NCLT在这方面,“Sachdeva说。
申请破产的时候,有债务46000卢比RCom 53金融债权人——包括本地和外国银行、非银行金融公司和基金——宣称。
<\/span><\/figcaption><\/figure>MUMBAI: A consortium of Reliance Communications<\/a>' (RCom) lenders, led by the State Bank of India<\/a>, have held discussions with resolution professional Deloitte on whether rebidding for the bankrupt telco’s assets is an option, people familiar with the matter said.
Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India<\/a> (RBI) is unlikely to permit asset reconstruction firm UVARCL<\/a> buying RCom’s spectrum and other assets under a resolution plan, the people said.
\"There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”
In the Aircel case, RBI denied UVARCL<\/a> permission to buy Aircel’s assets for flouting norms under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. The RBI decision came even after the National Company Law Tribunal<\/a> (NCLT) had approved the Aircel resolution plan. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company at the resolution stage.
Concerns were raised by a few bankers in a recent meeting, another person in the know said.
“Some lenders had brought up the issue of rebidding and whether and how it could be done legally. There is also fear that such a step could create legal trouble from the existing buyers,” the person said.
RCom’s committee of creditors (CoC) cleared the resolution plan in March 2020, which would have seen UVARCL buy all assets, including spectrum, under RCom and Reliance Telecom<\/a>, and a Reliance Jio<\/a> unit the company’s towers housed under Reliance Infratel<\/a>. The plans were filed in the NCLT a few days later. While the NCLT has cleared the tower sale to Jio, it has not cleared the transfer of the other assets to UVARCL yet. The tower sale, though, has not yet been implemented, with Jio recently approaching the NCLT with fresh concerns.
The delay is rapidly eroding the value of the assets, especially spectrum, further depleting the amount the lenders were hoping to recover, said people aware of the developments.
Under the resolution plan, UVARCL is expected to pick up RCom’s spectrum for Rs 12,760 crore, with the total recovery expected to be in the Rs 20,000-23,000 crore range against claims of Rs 57,382 crore, a roughly 65% haircut for lenders. Jio is to buy the towers for nearly Rs 5,000 crore.
RCom and Deloitte did not respond to ET's queries. Lead banker SBI, with an exposure of over Rs 4,800 crore, also did not respond to ET's queries.
Read also<\/h4><\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-authors="[" devina sengupta","saloni shukla","sachin dave"]" data-category-name="" data-category_id="" data-date="2021-07-07" data-index="article_1">
- Telecom乐动扑克News
- 3分钟阅读
银行讨论选择邀请新的竞购信实电信资产和解决专业
电信的银行,2019年5月申请破产,担心类似Aircel情况下,印度储备银行(RBI)不太可能允许资产重建公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
孟买:组成的一个财团信实电信为首的”(RCom)银行印度国家银行与决议举行了讨论专业德勤是否重新招标的破产电信的资产是一个选项,知情人士说。
电信的银行,2019年5月申请破产,担心类似于Aircel情况下,印度储备银行(RBI)不太可能允许资产重组公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
“有非正式讨论债权人在决议计划的可行性及其单位RCom一直延迟无可估量,“知道的银行官员说。“一些银行觉得报价应该熄灭了。”
Aircel情况下,央行否认UVARCL允许购买Aircel藐视准则下的资产Sarfaesi(金融资产的证券化和重建和执行证券利息)的行为。即使在印度央行作出了决定国家公司法法庭(NCLT)已经批准了Aircel决议计划。根据Sarfaesi行为、资产重建公司无法注入股本一家破产公司在解决阶段。
问题是由几个银行家在最近的一次会议上,另一个人知道说。
“一些银行提出的问题重新招标,是否合法,以及它如何能做。也有担心此举可能产生法律上的麻烦从现有买家,”这个人说。
信实电信的债权人委员会(CoC)扫清了决议计划2020年3月,它就会看到UVARCL购买所有资产,包括频谱,信实电信和信实电信和一个依赖Jio单位公司的大楼下鼓吹他的依赖。的计划被提出NCLT几天后。虽然NCLT扫清了塔Jio出售,它没有了其他资产的转让UVARCL。塔出售,尚未实现,Jio最近接近NCLT新鲜的担忧。
延迟是迅速侵蚀的价值资产,特别是谱,进一步消耗银行希望恢复,说,人们意识到发展。
根据决议计划,预计UVARCL捡12760卢比的频谱RCom总复苏预计将在20000 - 23000卢比的范围的57382卢比,银行约65%的发型。Jio是购买塔近5000卢比。
和德勤RCom没有回应等的查询。导致印度国家银行的银行家,超过4800卢比的接触,也没有回应等的查询。
“在鼓吹他的情况下,该计划已通过有关裁决权威(NCLT),涉众的CoC是受批准订单,“说Nakul Sachdeva,合伙人L&L伙伴。
他补充说,如果塔决议计划没有实施,CoC可以启动适当的行动反对该决议申请人(RA) -在这种情况下Jio也寻求救济的新鲜NCLT进行投票或呼吁其他决议计划。
“关于信实电信和CoC RCom已经批准的计划,因此,他们现在可以继续新的投标是否会再次完全取决于RFRP的内容(要求决议计划)文档和肯定的决定有关NCLT在这方面,“Sachdeva说。
申请破产的时候,有债务46000卢比RCom 53金融债权人——包括本地和外国银行、非银行金融公司和基金——宣称。
<\/span><\/figcaption><\/figure>MUMBAI: A consortium of Reliance Communications<\/a>' (RCom) lenders, led by the State Bank of India<\/a>, have held discussions with resolution professional Deloitte on whether rebidding for the bankrupt telco’s assets is an option, people familiar with the matter said.
Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India<\/a> (RBI) is unlikely to permit asset reconstruction firm UVARCL<\/a> buying RCom’s spectrum and other assets under a resolution plan, the people said.
\"There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”
In the Aircel case, RBI denied UVARCL<\/a> permission to buy Aircel’s assets for flouting norms under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. The RBI decision came even after the National Company Law Tribunal<\/a> (NCLT) had approved the Aircel resolution plan. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company at the resolution stage.
Concerns were raised by a few bankers in a recent meeting, another person in the know said.
“Some lenders had brought up the issue of rebidding and whether and how it could be done legally. There is also fear that such a step could create legal trouble from the existing buyers,” the person said.
RCom’s committee of creditors (CoC) cleared the resolution plan in March 2020, which would have seen UVARCL buy all assets, including spectrum, under RCom and Reliance Telecom<\/a>, and a Reliance Jio<\/a> unit the company’s towers housed under Reliance Infratel<\/a>. The plans were filed in the NCLT a few days later. While the NCLT has cleared the tower sale to Jio, it has not cleared the transfer of the other assets to UVARCL yet. The tower sale, though, has not yet been implemented, with Jio recently approaching the NCLT with fresh concerns.
The delay is rapidly eroding the value of the assets, especially spectrum, further depleting the amount the lenders were hoping to recover, said people aware of the developments.
Under the resolution plan, UVARCL is expected to pick up RCom’s spectrum for Rs 12,760 crore, with the total recovery expected to be in the Rs 20,000-23,000 crore range against claims of Rs 57,382 crore, a roughly 65% haircut for lenders. Jio is to buy the towers for nearly Rs 5,000 crore.
RCom and Deloitte did not respond to ET's queries. Lead banker SBI, with an exposure of over Rs 4,800 crore, also did not respond to ET's queries.
Read also<\/h4><\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-authors="[" devina sengupta","saloni shukla","sachin dave"]" data-category-name="" data-category_id="" data-date="2021-07-07" data-index="article_1">
- Telecom乐动扑克News
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银行讨论选择邀请新的竞购信实电信资产和解决专业
电信的银行,2019年5月申请破产,担心类似Aircel情况下,印度储备银行(RBI)不太可能允许资产重建公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
孟买:组成的一个财团信实电信为首的”(RCom)银行印度国家银行与决议举行了讨论专业德勤是否重新招标的破产电信的资产是一个选项,知情人士说。
电信的银行,2019年5月申请破产,担心类似于Aircel情况下,印度储备银行(RBI)不太可能允许资产重组公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
“有非正式讨论债权人在决议计划的可行性及其单位RCom一直延迟无可估量,“知道的银行官员说。“一些银行觉得报价应该熄灭了。”
Aircel情况下,央行否认UVARCL允许购买Aircel藐视准则下的资产Sarfaesi(金融资产的证券化和重建和执行证券利息)的行为。即使在印度央行作出了决定国家公司法法庭(NCLT)已经批准了Aircel决议计划。根据Sarfaesi行为、资产重建公司无法注入股本一家破产公司在解决阶段。
问题是由几个银行家在最近的一次会议上,另一个人知道说。
“一些银行提出的问题重新招标,是否合法,以及它如何能做。也有担心此举可能产生法律上的麻烦从现有买家,”这个人说。
信实电信的债权人委员会(CoC)扫清了决议计划2020年3月,它就会看到UVARCL购买所有资产,包括频谱,信实电信和信实电信和一个依赖Jio单位公司的大楼下鼓吹他的依赖。的计划被提出NCLT几天后。虽然NCLT扫清了塔Jio出售,它没有了其他资产的转让UVARCL。塔出售,尚未实现,Jio最近接近NCLT新鲜的担忧。
延迟是迅速侵蚀的价值资产,特别是谱,进一步消耗银行希望恢复,说,人们意识到发展。
根据决议计划,预计UVARCL捡12760卢比的频谱RCom总复苏预计将在20000 - 23000卢比的范围的57382卢比,银行约65%的发型。Jio是购买塔近5000卢比。
和德勤RCom没有回应等的查询。导致印度国家银行的银行家,超过4800卢比的接触,也没有回应等的查询。
“在鼓吹他的情况下,该计划已通过有关裁决权威(NCLT),涉众的CoC是受批准订单,“说Nakul Sachdeva,合伙人L&L伙伴。
他补充说,如果塔决议计划没有实施,CoC可以启动适当的行动反对该决议申请人(RA) -在这种情况下Jio也寻求救济的新鲜NCLT进行投票或呼吁其他决议计划。
“关于信实电信和CoC RCom已经批准的计划,因此,他们现在可以继续新的投标是否会再次完全取决于RFRP的内容(要求决议计划)文档和肯定的决定有关NCLT在这方面,“Sachdeva说。
申请破产的时候,有债务46000卢比RCom 53金融债权人——包括本地和外国银行、非银行金融公司和基金——宣称。
<\/span><\/figcaption><\/figure>MUMBAI: A consortium of Reliance Communications<\/a>' (RCom) lenders, led by the State Bank of India<\/a>, have held discussions with resolution professional Deloitte on whether rebidding for the bankrupt telco’s assets is an option, people familiar with the matter said.
Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India<\/a> (RBI) is unlikely to permit asset reconstruction firm UVARCL<\/a> buying RCom’s spectrum and other assets under a resolution plan, the people said.
\"There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”
In the Aircel case, RBI denied UVARCL<\/a> permission to buy Aircel’s assets for flouting norms under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. The RBI decision came even after the National Company Law Tribunal<\/a> (NCLT) had approved the Aircel resolution plan. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company at the resolution stage.
Concerns were raised by a few bankers in a recent meeting, another person in the know said.
“Some lenders had brought up the issue of rebidding and whether and how it could be done legally. There is also fear that such a step could create legal trouble from the existing buyers,” the person said.
RCom’s committee of creditors (CoC) cleared the resolution plan in March 2020, which would have seen UVARCL buy all assets, including spectrum, under RCom and Reliance Telecom<\/a>, and a Reliance Jio<\/a> unit the company’s towers housed under Reliance Infratel<\/a>. The plans were filed in the NCLT a few days later. While the NCLT has cleared the tower sale to Jio, it has not cleared the transfer of the other assets to UVARCL yet. The tower sale, though, has not yet been implemented, with Jio recently approaching the NCLT with fresh concerns.
The delay is rapidly eroding the value of the assets, especially spectrum, further depleting the amount the lenders were hoping to recover, said people aware of the developments.
Under the resolution plan, UVARCL is expected to pick up RCom’s spectrum for Rs 12,760 crore, with the total recovery expected to be in the Rs 20,000-23,000 crore range against claims of Rs 57,382 crore, a roughly 65% haircut for lenders. Jio is to buy the towers for nearly Rs 5,000 crore.
RCom and Deloitte did not respond to ET's queries. Lead banker SBI, with an exposure of over Rs 4,800 crore, also did not respond to ET's queries.
Read also<\/h4><\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-authors="[" devina sengupta","saloni shukla","sachin dave"]" data-category-name="" data-category_id="" data-date="2021-07-07" data-index="article_1">
- Telecom乐动扑克News
- 3分钟阅读
银行讨论选择邀请新的竞购信实电信资产和解决专业
电信的银行,2019年5月申请破产,担心类似Aircel情况下,印度储备银行(RBI)不太可能允许资产重建公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
孟买:组成的一个财团信实电信为首的”(RCom)银行印度国家银行与决议举行了讨论专业德勤是否重新招标的破产电信的资产是一个选项,知情人士说。
电信的银行,2019年5月申请破产,担心类似于Aircel情况下,印度储备银行(RBI)不太可能允许资产重组公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
“有非正式讨论债权人在决议计划的可行性及其单位RCom一直延迟无可估量,“知道的银行官员说。“一些银行觉得报价应该熄灭了。”
Aircel情况下,央行否认UVARCL允许购买Aircel藐视准则下的资产Sarfaesi(金融资产的证券化和重建和执行证券利息)的行为。即使在印度央行作出了决定国家公司法法庭(NCLT)已经批准了Aircel决议计划。根据Sarfaesi行为、资产重建公司无法注入股本一家破产公司在解决阶段。
问题是由几个银行家在最近的一次会议上,另一个人知道说。
“一些银行提出的问题重新招标,是否合法,以及它如何能做。也有担心此举可能产生法律上的麻烦从现有买家,”这个人说。
信实电信的债权人委员会(CoC)扫清了决议计划2020年3月,它就会看到UVARCL购买所有资产,包括频谱,信实电信和信实电信和一个依赖Jio单位公司的大楼下鼓吹他的依赖。的计划被提出NCLT几天后。虽然NCLT扫清了塔Jio出售,它没有了其他资产的转让UVARCL。塔出售,尚未实现,Jio最近接近NCLT新鲜的担忧。
延迟是迅速侵蚀的价值资产,特别是谱,进一步消耗银行希望恢复,说,人们意识到发展。
根据决议计划,预计UVARCL捡12760卢比的频谱RCom总复苏预计将在20000 - 23000卢比的范围的57382卢比,银行约65%的发型。Jio是购买塔近5000卢比。
和德勤RCom没有回应等的查询。导致印度国家银行的银行家,超过4800卢比的接触,也没有回应等的查询。
“在鼓吹他的情况下,该计划已通过有关裁决权威(NCLT),涉众的CoC是受批准订单,“说Nakul Sachdeva,合伙人L&L伙伴。
他补充说,如果塔决议计划没有实施,CoC可以启动适当的行动反对该决议申请人(RA) -在这种情况下Jio也寻求救济的新鲜NCLT进行投票或呼吁其他决议计划。
“关于信实电信和CoC RCom已经批准的计划,因此,他们现在可以继续新的投标是否会再次完全取决于RFRP的内容(要求决议计划)文档和肯定的决定有关NCLT在这方面,“Sachdeva说。
申请破产的时候,有债务46000卢比RCom 53金融债权人——包括本地和外国银行、非银行金融公司和基金——宣称。
<\/span><\/figcaption><\/figure>MUMBAI: A consortium of Reliance Communications<\/a>' (RCom) lenders, led by the State Bank of India<\/a>, have held discussions with resolution professional Deloitte on whether rebidding for the bankrupt telco’s assets is an option, people familiar with the matter said.
Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India<\/a> (RBI) is unlikely to permit asset reconstruction firm UVARCL<\/a> buying RCom’s spectrum and other assets under a resolution plan, the people said.
\"There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”
In the Aircel case, RBI denied UVARCL<\/a> permission to buy Aircel’s assets for flouting norms under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. The RBI decision came even after the National Company Law Tribunal<\/a> (NCLT) had approved the Aircel resolution plan. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company at the resolution stage.
Concerns were raised by a few bankers in a recent meeting, another person in the know said.
“Some lenders had brought up the issue of rebidding and whether and how it could be done legally. There is also fear that such a step could create legal trouble from the existing buyers,” the person said.
RCom’s committee of creditors (CoC) cleared the resolution plan in March 2020, which would have seen UVARCL buy all assets, including spectrum, under RCom and Reliance Telecom<\/a>, and a Reliance Jio<\/a> unit the company’s towers housed under Reliance Infratel<\/a>. The plans were filed in the NCLT a few days later. While the NCLT has cleared the tower sale to Jio, it has not cleared the transfer of the other assets to UVARCL yet. The tower sale, though, has not yet been implemented, with Jio recently approaching the NCLT with fresh concerns.
The delay is rapidly eroding the value of the assets, especially spectrum, further depleting the amount the lenders were hoping to recover, said people aware of the developments.
Under the resolution plan, UVARCL is expected to pick up RCom’s spectrum for Rs 12,760 crore, with the total recovery expected to be in the Rs 20,000-23,000 crore range against claims of Rs 57,382 crore, a roughly 65% haircut for lenders. Jio is to buy the towers for nearly Rs 5,000 crore.
RCom and Deloitte did not respond to ET's queries. Lead banker SBI, with an exposure of over Rs 4,800 crore, also did not respond to ET's queries.
Read also<\/h4><\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-authors="[" devina sengupta","saloni shukla","sachin dave"]" data-category-name="" data-category_id="" data-date="2021-07-07" data-index="article_1">
- Telecom乐动扑克News
- 3分钟阅读
银行讨论选择邀请新的竞购信实电信资产和解决专业
电信的银行,2019年5月申请破产,担心类似Aircel情况下,印度储备银行(RBI)不太可能允许资产重建公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
孟买:组成的一个财团信实电信为首的”(RCom)银行印度国家银行与决议举行了讨论专业德勤是否重新招标的破产电信的资产是一个选项,知情人士说。
电信的银行,2019年5月申请破产,担心类似于Aircel情况下,印度储备银行(RBI)不太可能允许资产重组公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
“有非正式讨论债权人在决议计划的可行性及其单位RCom一直延迟无可估量,“知道的银行官员说。“一些银行觉得报价应该熄灭了。”
Aircel情况下,央行否认UVARCL允许购买Aircel藐视准则下的资产Sarfaesi(金融资产的证券化和重建和执行证券利息)的行为。即使在印度央行作出了决定国家公司法法庭(NCLT)已经批准了Aircel决议计划。根据Sarfaesi行为、资产重建公司无法注入股本一家破产公司在解决阶段。
问题是由几个银行家在最近的一次会议上,另一个人知道说。
“一些银行提出的问题重新招标,是否合法,以及它如何能做。也有担心此举可能产生法律上的麻烦从现有买家,”这个人说。
信实电信的债权人委员会(CoC)扫清了决议计划2020年3月,它就会看到UVARCL购买所有资产,包括频谱,信实电信和信实电信和一个依赖Jio单位公司的大楼下鼓吹他的依赖。的计划被提出NCLT几天后。虽然NCLT扫清了塔Jio出售,它没有了其他资产的转让UVARCL。塔出售,尚未实现,Jio最近接近NCLT新鲜的担忧。
延迟是迅速侵蚀的价值资产,特别是谱,进一步消耗银行希望恢复,说,人们意识到发展。
根据决议计划,预计UVARCL捡12760卢比的频谱RCom总复苏预计将在20000 - 23000卢比的范围的57382卢比,银行约65%的发型。Jio是购买塔近5000卢比。
和德勤RCom没有回应等的查询。导致印度国家银行的银行家,超过4800卢比的接触,也没有回应等的查询。
“在鼓吹他的情况下,该计划已通过有关裁决权威(NCLT),涉众的CoC是受批准订单,“说Nakul Sachdeva,合伙人L&L伙伴。
他补充说,如果塔决议计划没有实施,CoC可以启动适当的行动反对该决议申请人(RA) -在这种情况下Jio也寻求救济的新鲜NCLT进行投票或呼吁其他决议计划。
“关于信实电信和CoC RCom已经批准的计划,因此,他们现在可以继续新的投标是否会再次完全取决于RFRP的内容(要求决议计划)文档和肯定的决定有关NCLT在这方面,“Sachdeva说。
申请破产的时候,有债务46000卢比RCom 53金融债权人——包括本地和外国银行、非银行金融公司和基金——宣称。
<\/span><\/figcaption><\/figure>MUMBAI: A consortium of Reliance Communications<\/a>' (RCom) lenders, led by the State Bank of India<\/a>, have held discussions with resolution professional Deloitte on whether rebidding for the bankrupt telco’s assets is an option, people familiar with the matter said.
Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India<\/a> (RBI) is unlikely to permit asset reconstruction firm UVARCL<\/a> buying RCom’s spectrum and other assets under a resolution plan, the people said.
\"There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”
In the Aircel case, RBI denied UVARCL<\/a> permission to buy Aircel’s assets for flouting norms under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. The RBI decision came even after the National Company Law Tribunal<\/a> (NCLT) had approved the Aircel resolution plan. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company at the resolution stage.
Concerns were raised by a few bankers in a recent meeting, another person in the know said.
“Some lenders had brought up the issue of rebidding and whether and how it could be done legally. There is also fear that such a step could create legal trouble from the existing buyers,” the person said.
RCom’s committee of creditors (CoC) cleared the resolution plan in March 2020, which would have seen UVARCL buy all assets, including spectrum, under RCom and Reliance Telecom<\/a>, and a Reliance Jio<\/a> unit the company’s towers housed under Reliance Infratel<\/a>. The plans were filed in the NCLT a few days later. While the NCLT has cleared the tower sale to Jio, it has not cleared the transfer of the other assets to UVARCL yet. The tower sale, though, has not yet been implemented, with Jio recently approaching the NCLT with fresh concerns.
The delay is rapidly eroding the value of the assets, especially spectrum, further depleting the amount the lenders were hoping to recover, said people aware of the developments.
Under the resolution plan, UVARCL is expected to pick up RCom’s spectrum for Rs 12,760 crore, with the total recovery expected to be in the Rs 20,000-23,000 crore range against claims of Rs 57,382 crore, a roughly 65% haircut for lenders. Jio is to buy the towers for nearly Rs 5,000 crore.
RCom and Deloitte did not respond to ET's queries. Lead banker SBI, with an exposure of over Rs 4,800 crore, also did not respond to ET's queries.
Read also<\/h4><\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
- Telecom乐动扑克News
- 3分钟阅读
银行讨论选择邀请新的竞购信实电信资产和解决专业
电信的银行,2019年5月申请破产,担心类似Aircel情况下,印度储备银行(RBI)不太可能允许资产重建公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
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电信的银行,2019年5月申请破产,担心类似于Aircel情况下,印度储备银行(RBI)不太可能允许资产重组公司UVARCL购买信实电信的光谱和其他资产根据一项决议计划,。
“有非正式讨论债权人在决议计划的可行性及其单位RCom一直延迟无可估量,“知道的银行官员说。“一些银行觉得报价应该熄灭了。”
Aircel情况下,央行否认UVARCL允许购买Aircel藐视准则下的资产Sarfaesi(金融资产的证券化和重建和执行证券利息)的行为。即使在印度央行作出了决定国家公司法法庭(NCLT)已经批准了Aircel决议计划。根据Sarfaesi行为、资产重建公司无法注入股本一家破产公司在解决阶段。
问题是由几个银行家在最近的一次会议上,另一个人知道说。
“一些银行提出的问题重新招标,是否合法,以及它如何能做。也有担心此举可能产生法律上的麻烦从现有买家,”这个人说。
信实电信的债权人委员会(CoC)扫清了决议计划2020年3月,它就会看到UVARCL购买所有资产,包括频谱,信实电信和信实电信和一个依赖Jio单位公司的大楼下鼓吹他的依赖。的计划被提出NCLT几天后。虽然NCLT扫清了塔Jio出售,它没有了其他资产的转让UVARCL。塔出售,尚未实现,Jio最近接近NCLT新鲜的担忧。
延迟是迅速侵蚀的价值资产,特别是谱,进一步消耗银行希望恢复,说,人们意识到发展。
根据决议计划,预计UVARCL捡12760卢比的频谱RCom总复苏预计将在20000 - 23000卢比的范围的57382卢比,银行约65%的发型。Jio是购买塔近5000卢比。
和德勤RCom没有回应等的查询。导致印度国家银行的银行家,超过4800卢比的接触,也没有回应等的查询。
“在鼓吹他的情况下,该计划已通过有关裁决权威(NCLT),涉众的CoC是受批准订单,“说Nakul Sachdeva,合伙人L&L伙伴。
他补充说,如果塔决议计划没有实施,CoC可以启动适当的行动反对该决议申请人(RA) -在这种情况下Jio也寻求救济的新鲜NCLT进行投票或呼吁其他决议计划。
“关于信实电信和CoC RCom已经批准的计划,因此,他们现在可以继续新的投标是否会再次完全取决于RFRP的内容(要求决议计划)文档和肯定的决定有关NCLT在这方面,“Sachdeva说。
申请破产的时候,有债务46000卢比RCom 53金融债权人——包括本地和外国银行、非银行金融公司和基金——宣称。
Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India<\/a> (RBI) is unlikely to permit asset reconstruction firm UVARCL<\/a> buying RCom’s spectrum and other assets under a resolution plan, the people said.
\"There are informal discussions among lenders over the viability of the resolution plans for RCom and its units, as they have been delayed beyond measure,” said a bank official in the know. “Some lenders feel the bids should be put out again.”
In the Aircel case, RBI denied UVARCL<\/a> permission to buy Aircel’s assets for flouting norms under the Sarfaesi (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest) Act. The RBI decision came even after the National Company Law Tribunal<\/a> (NCLT) had approved the Aircel resolution plan. According to the Sarfaesi Act, asset reconstruction companies cannot infuse equity into an insolvent company at the resolution stage.
Concerns were raised by a few bankers in a recent meeting, another person in the know said.
“Some lenders had brought up the issue of rebidding and whether and how it could be done legally. There is also fear that such a step could create legal trouble from the existing buyers,” the person said.
RCom’s committee of creditors (CoC) cleared the resolution plan in March 2020, which would have seen UVARCL buy all assets, including spectrum, under RCom and Reliance Telecom<\/a>, and a Reliance Jio<\/a> unit the company’s towers housed under Reliance Infratel<\/a>. The plans were filed in the NCLT a few days later. While the NCLT has cleared the tower sale to Jio, it has not cleared the transfer of the other assets to UVARCL yet. The tower sale, though, has not yet been implemented, with Jio recently approaching the NCLT with fresh concerns.
The delay is rapidly eroding the value of the assets, especially spectrum, further depleting the amount the lenders were hoping to recover, said people aware of the developments.
Under the resolution plan, UVARCL is expected to pick up RCom’s spectrum for Rs 12,760 crore, with the total recovery expected to be in the Rs 20,000-23,000 crore range against claims of Rs 57,382 crore, a roughly 65% haircut for lenders. Jio is to buy the towers for nearly Rs 5,000 crore.
RCom and Deloitte did not respond to ET's queries. Lead banker SBI, with an exposure of over Rs 4,800 crore, also did not respond to ET's queries.
Read also<\/h4><\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>SBI moves to remove Reliance Infratel’s ‘fraud’ tag<\/a><\/h5><\/div><\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>UVARCL to move SC against NCLAT order preventing Aircel from selling spectrum<\/a><\/h5><\/div><\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>Department of Telecommunications won’t renew licence until RCom clears dues<\/a><\/h5><\/div><\/a><\/figure>RCom hits lower circuit after DoT refuses to renew licence<\/a><\/h5><\/div><\/div><\/div>
\"In the case of Infratel, as the plan has been approved by the concerned Adjudicating Authority (NCLT), the CoC being a stakeholder is bound by the approval order,” said Nakul Sachdeva, Partner at L&L Partners.
He added that if the tower resolution plan is not implemented, the CoC can initiate appropriate action against the resolution applicant (RA) - in this case Jio - and also seek relief from the NCLT to conduct fresh voting or call for other resolution plans.
“With regard to Reliance Telecom<\/a> and RCom, the CoC has approved the plan and accordingly, whether they can now go ahead with fresh bidding would entirely again depend on the contents of the RFRP (Request For Resolution Plan) document and affirmative decision of the concerned NCLT in this regard,” said Sachdeva.
At the time of filing for bankruptcy, RCom had debt of Rs 46,000 crore, with 53 financial creditors — including local and foreign banks, non-banking financial companies and funds — laying claims.
<\/body>","next_sibling":[{"msid":84192227,"title":"Fake Tesla, Apple stocks have started trading on blockchains","entity_type":"ARTICLE","link":"\/news\/fake-tesla-apple-stocks-have-started-trading-on-blockchains\/84192227","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":84192277,"entity_type":"ARTICLE","title":"Lenders discuss option to invite fresh bid for Reliance Communications' assets with resolution professional","synopsis":"Lenders of the telco, which filed for bankruptcy in May 2019, are worried that similar to the Aircel case, the Reserve Bank of India (RBI) is unlikely to permit asset reconstruction firm UVARCL buying RCom\u2019s spectrum and other assets under a resolution plan, the people said.","titleseo":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479252477\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252477.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479252477,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Assistant Editor","agency":false}},{"author_name":"Saloni Shukla","author_link":"\/author\/479242889\/saloni-shukla","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479242889.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479242889,"author_name":"Saloni Shukla","author_seo_name":"saloni-shukla","designation":"Deputy Banking Editor","agency":false}},{"author_name":"Sachin Dave","author_link":"\/author\/479239123\/sachin-dave","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479239123.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":479239123,"author_name":"Sachin Dave","author_seo_name":"sachin-dave","designation":"Senior Editor","agency":false}}],"analytics":{"comments":0,"views":2330,"shares":0,"engagementtimems":7844000},"Alttitle":{"minfo":""},"artag":"ETTelecom","artdate":"2021-07-07 07:40:56","lastupd":"2021-07-07 07:44:58","breadcrumbTags":["Reliance communications","Reliance Telecom","Reliance Infratel","reserve bank of india","state bank of india","UVARCL","Industry","National Company Law Tribunal","reliance jio"],"secinfo":{"seolocation":"telecomnews\/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional"}}" data-news_link="//www.iser-br.com/news/lenders-discuss-option-to-invite-fresh-bid-for-reliance-communications-assets-with-resolution-professional/84192277">
<\/a><\/figure>
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