UVARCL, a Delhi-based company that's sweeping up bankrupt telcos

UVARCL's biggest bid so far, for Anil Ambani's firms, awaits CoC clearance

A low-profile Delhi company has become a major player in bidding for distressed telecom assets that have ended up in insolvency litigation because of the cut-throat price wars unleashed by Reliance Jio. 

On Monday, UV Asset Reconstruction Company Ltd (UVARCL) is believed to have made the highest bid of Rs 16,000 crore to buy two companies, Reliance Communications (RCom) and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). They house the spectrum, enterprise, data centre, and real estate assets of the Anil Ambani group. UVARCL is willing to pay 30 per cent of the bid upfront in 90