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An announcement from Reliance Communications Limited ( (IN:RCOM) ) is now available.
Reliance Communications Limited has disclosed that the Adjudicating Authority under the Prevention of Money Laundering Act has confirmed provisional attachment orders on multiple properties held by the company and its wholly owned subsidiaries, Campion Properties and Reliance Realty. The attached assets include land and buildings in New Delhi, Navi Mumbai, Bhubaneswar, Chennai, and Pune, encompassing key parcels such as Dhirubhai Ambani Knowledge City and Millennium Business Park.
These confirmations, following earlier provisional attachment orders from the Enforcement Directorate, add a further layer of legal and regulatory complexity to Reliance Communications’ ongoing corporate insolvency resolution process. With substantial real estate now formally under attachment, the company’s resolution professional is seeking legal advice on the implications, which could affect the valuation and monetisation of assets, creditor recoveries, and the overall timetable and structure of any resolution plan.
More about Reliance Communications Limited
Reliance Communications Limited is an Indian telecommunications company based in Navi Mumbai, historically engaged in providing telecom services and related infrastructure across various markets. The company is currently under corporate insolvency resolution process, with its affairs, business, and assets managed by a resolution professional appointed under the Insolvency and Bankruptcy Code.
Average Trading Volume: 899,260
Technical Sentiment Signal: Sell
Current Market Cap: 2.82B INR
For detailed information about RCOM stock, go to TipRanks’ Stock Analysis page.