IBC procedures of RCom to be postponed further as peak court dismisses hearing

The Insolvency and Bankruptcy (IBC) procedures of telecom administrator Reliance Communications (RCom) is expected to be postponed further as the Supreme Court has dismissed hearing its application by about fourteen days. The intermission is additionally prone to affect RCom’s continuous procedures under the watchful eye of the National Company Law Appellate Tribunal (NCLAT), with the following hearing slated for April 8. The general procedure of IBC re-inception is also prone to be deferred by four weeks* sources near the advancement told. On Thursday, the pinnacle court heard a request recorded by RCom before the NCLAT on May 20, 2018, to pull back prior, wherein it looked for that the organization ought not to be sent to IBC.

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