The National Company Law Tribunal (NCLT) approved on Friday the appointment of a common resolution professional as part of the corporate insolvency resolution proceedings against
Listed as the 13th richest man in the world with a net worth of $50 billion by Forbes, Anil Ambani has been going through several challenges in almost all his businesses.
Hero is also believed to be in discussions with Kishore Biyani for his stake in Future Generali and Max Bupa.
Borrowing costs may rise and liquidity may shrink in the debt market with key investors such as mutual funds holding back on investments.
Under this in-principle standstill understanding, these lenders will not enforce security and will not sell any of the promoters’ pledged shares till Sept.
On February 1, RCom’s board reviewed the progress of the company’s debt resolution plans since the invocation of strategic debt resolution on June 2, 2017.