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Reliance Communications Limited ( (IN:RCOM) ) just unveiled an announcement.
Reliance Communications Limited has received a letter from UCO Bank classifying its loan accounts as ‘fraud’. This development comes as the company is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The resolution plan for the company has been approved by its creditors and is awaiting approval from the National Company Law Tribunal, Mumbai Bench. The loans in question pertain to a period before the insolvency process, and their resolution will be part of the overall resolution plan or liquidation.
More about Reliance Communications Limited
Reliance Communications Limited operates in the telecommunications industry, providing a range of communication services. The company is currently under a corporate insolvency resolution process, with its business and assets managed by a resolution professional.
Average Trading Volume: 1,493,683
Technical Sentiment Signal: Sell
Current Market Cap: 3.84B INR
See more data about RCOM stock on TipRanks’ Stock Analysis page.