Company's board of directors reviewed the progress of its debt resolution plans; the strategic debt resolution progress was invoked on June 2, 2017.
The statement cited "unresolved challenges", pending legal issues at high courts, and the Supreme Court for the insolvency proceedings.
One of India's oldest telecom firms, Reliance Communications will file an application at the Mumbai bench of National Company Law Tribunal (NCLT) along with its units Reliance Telecom Ltd. and Reliance Infratel Ltd.
The company had chalked out plans to sell assets for about Rs 25,000 crore and use it for clearing debt of around 40 lenders.
The NCLT, on the request of RCom, had granted it time to clear dues to avoid insolvency proceedings.
RCom said this course of action will be in the best interest of all stakeholders, ensuring comprehensive debt resolution in a final, transparent and time-bound manner within the prescribed 270 days.
Over twelve months, talks with forty lenders to reach a consensus has been impossible and has driven them to the bankruptcy court, the debt-laden telecom company said.
RCom also filed a contempt plea against the DoT for intentionally delaying the RCom-Jio spectrum deal. The company also assured to repay ₹230 crore to settle dues of minority shareholder in Reliance Infratel (including HSBC Daisy Investments) in December a year ago.
To complete the assets sale deal with RCom, Jio wanted an immunity from the telecom ministry that no dues prior to the deal, if any, will be imposed on it. DoT refused to grant the protection that led to an unofficial collapse of the big brother-small brother deal.
The airport has been evacuated and trains have stopped after police declared an emergency situation about 10.15pm on Saturday. Police have established an exclusion zone surrounding the carpark and have evacuated nearby hotels, bars and establishments.
Was it the best event that Epic Games has done so far? Either way, the winning team donated the $1 million in winnings to charity. Previous data mining from patch v7.20 uncovered a secret Marshmello music video, which will presumably debut with his concert.
Existing regulations state that e-commerce firms can not exercise ownership over the goods sold on their online marketplace. Clothing from Indian department store chain Shopper's Stop was also no longer available, as Amazon owns 5% of the company.
The glacier has retreated at a steady rate of about 0.4 to 0.5 miles (0.6 to 0.8 km) annually since 1992, the researchers found. With climate change likely to continue accelerating this melt, the implications for global sea level rise are considerable.
Gurley beat Gronkowski 21-6 in a Madden NFL 19 Super Bowl 53 preview as part of Xbox Sessions: Game Before The Game. Anderson, a seven-year pro, was acquired by the Rams on December 18 after an injury to starting RB Todd Gurley .
Paris begins in a cabaret, and from there, you'll be battling your way down artisanal alleyways and the banks of the Seine. Depending on what side of the fence you are put on, you'll be tasked with either attacking or defending points on the map.
Job seekers fill out applications at a job fair at the Denver Workforce Center in Denver, Colo., on February 15, 2017. Also worth noting was that the more than 300,000 federal workers who were furloughed had an impact on the reporting.
The Hubble Space Telescope has just captured a new dwarf galaxy which is 30 million light-years away from the Milky Way . Relative to other galaxies in the universe, NASA says that Bedin 1 is essentially in our planet's own "cosmic backyard".
Stop us if you have heard this before: India's middle order is not the most confidence-inspiring part of the ODI team. After losing the first three games, the hosts won the fourth game by 8 wickets to get back to winning ways.
Murray rues Ireland's slow start in England defeat
Former England scrum half Lee Dickson analyses Saturday's win against Ireland and picks out his standout England play . I don't want to get too excited just yet, and now this game is over it is how you build on it.
The huge cost of calling Tom Brady a 'cheater'
I thought in the worst case they would say, 'Hey, don't do that again'. "Five-time Super Bowl champion" could be popular. A graphic during the station's Monday broadcast identified Tom Brady as a "known cheater".
2019 season : Sauber F1 team rebrand as Alfa Romeo Racing
The team previously appeared on the entry list for the new Formula 1 season under the team name Alfa Romeo Sauber F1 Team . After a 33-year absence from the sport, Alfa Romeo became title sponsor for the cash-strapped Sauber team last season.
Samsung starts making 1TB chips for smartphones
Samsung plans to expand production of the chip during the first half of the year to keep up with expected demand. Samsung says that 5GB-sized full HD videos can be offloaded to an NVMe SSD in as fast as five seconds.
MIT creates Jenga-playing robot
By breaking the tower down into clusters it can create a physical model of the world in about 300 block pushes. The researchers published their findings in the latest issue of Science Robotics .
Son shines for Spurs
But despite moving 10 points clear of their north London rivals, Pochettino still doesn't want them to do him a favour. However, games of football, especially in the Premier League , are won and lost by the finest of margins.
Eagles to franchise, trade Nick Foles
The 29-year-old has the option to "buy back" his free agency from the Eagles for $2 million, which Rapaport says is "likely". Eagles head coach Doug Pederson and general manager Howie Roseman both backed Wentz last month as the team's starter.