NCLT says RCIL resolution plan cannot be implemented; CoC meeting within 30 days
RCOM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
NCLT Mumbai has ruled that the insolvency resolution plan of Reliance Communications Infrastructure Limited (RCIL), a subsidiary of RCOM, is non-implementable in its current form. The Tribunal found a Rs 26.29 crore shortfall in mandatory payments to dissenting financial creditors, with available funds of Rs 301.72 crore versus required Rs 318.67 crore. The Resolution Professional has been directed to convene a CoC meeting within 30 days to decide the future course of action. Next hearing is on September 24, 2026.
Negative for shareholders. The approved resolution plan for subsidiary RCIL cannot be executed, raising uncertainty over debt recovery and restructuring outcome.