Reliance Communication gets NCLAT nod to sell tower, fibre assets

In a breather for Reliance Communications (RCom), the Anil Ambani-owned company has got approval from the National Company Law Appellate Tribunal (NCLAT) to proceed with the sale of its tower and fibre business.

RCom can now execute its full asset monetisation programme of around Rs 250 billion, as the Supreme Court has already allowed the sale of spectrum and other assets, including real estate. The company can sell most of its assets to Reliance Jio to pare its Rs 450-billion debt.

Giving partial relief to RCom on Thursday, the Supreme Court had lifted the stay on sale of spectrum, real estate and