November 29, 2022

RCom purchase: RJio gives to place ₹3,500 crore in escrow

The amount deposited in the escrow account will be distributed amongst lenders once the Supreme Court settles the matter

RCom buy RJio offers to put ₹3500 crore in escrow.jfif

Reliance Jio has provided to place ₹3,500 crore in an escrow account, with a purpose to full the acquisition of Reliance Communications Restricted’s (RCOM) tower and fiber belongings. It has been two years for the reason that Nationwide Firm Legislation Tribunal Mumbai (NCLT) accredited the decision plan for the tower and fiber belongings of RCOM.

Nevertheless, the inter-creditors dispute over the distribution of decision of funds has delayed the debt decision course of. Consequently, Jio has moved a contemporary utility in…

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