Mumbai: The National Company Law Tribunal adjourned the hearing of insolvency petitions filed against Reliance Communications to early next month after a group of the telecom operators lenders sought time to consider converting the companys loans into equity.
The joint lenders forum managing the recast of RComs debt will have a meeting this month-end, the counsel representing them told the NCLT. The meeting coincides with the deadline for converting the operators loans into equity, as per strategic debt restructuring guidelines.
The JLF has a meeting this month end and we would request you to hear the case after that, JLF counsel Ashish Kamat told the NCLT on behalf of legal firm Naik, Naik & Co.
The bench, comprising Justices BSV Prakash …
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