 "Telecom")
Lenders to bankrupt wireless telephone companies, Aircel and Reliance Communications, are pinning their hopes on the Reserve Bank of India’s (RBI’s) panel report recommending asset resolution companies (ARCs) to bid for companies undergoing bankruptcy process.
With the next hearing of the Aircel debt resolution in Delhi High Court set for the third week in November, lenders are hoping the dispute will end soon.
The RBI panel report released on November 2 has recommended that ARCs should be allowed to bid for bankruptcy cases under the Insolvency and Bankruptcy Code (IBC) 2016 via securities trusts or Alternate Investment Fund structures.
“The RBI has to
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