A public-relations firm became the latest company to ask an Indian tribunal to place billionaire Anil Ambani-run Reliance Communications Ltd. under insolvency proceedings after the unprofitable mobile-phone operator failed to pay its dues.
Fortuna Public Relations Pvt. placed its request with the Mumbai bench of National Company Law Tribunal on Monday, saying Reliance Communications owes it 4.3 million rupees ($67,000). The NCLT plans to hear the case on Dec. 19.
The public-relations firm joins a list of creditors including China Development Bank, Manipal Technologies Ltd. and the Indian unit of network-equipment maker Ericsson AB seeking to compel repayment from a company controlled by the brother of Indias richest person. …
Read the full article at: https://www.bloomberg.com/news/articles/2017-12-04/public-relations-company-seeks-insolvency-proceedings-for-rcom
