NCLAT recalls order that allowed sale of RInfra business

New Delhi, Apr 18: The National Company Law Appellate Tribunal (NCLAT) today recalled its previous order which allowed debt-ridden Reliance Communications to proceed with the sale of its tower and fibre assets.
The sale of these businesses form an important part of the overall Rs 25,000 crore asset monetisation blueprint of the troubled company. The appellate tribunal would start its hearing on the plea of Reliance Infratel (RCom’s subsidiary that runs the tower and fibre businesses) from April 23 over sale of its businesses.