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Sunday
August 2019
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News Headlines
Former Finance Minister Arun Jaitley passes away        I find nets claustrophobic, prefer centre wicket for match simulation: Kohli        Rahane's 81 only saving grace in India 203 for 6 on day 1        No more dessert names, Google to officially call new OS 'Android 10'        Sensex, Nifty rebound on hopes of FPI tax rollback        Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi        Two Govt hospitals in Pak deny specialised ambulance facility to Sharif        UN, France raise concern over Amazon wildfires 'crisis'        INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter        Always said demonising Modi wrong: Singhvi        Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion        FM proposes measures to enhance fund flows for infra, housing projs        FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials        Vivek Oberoi to star in film on Balakot air strikes        It's better to get hit early and hard: Kohli on bouncers        Messi 'made me better player', says Ronaldo        Nirav Modi to appear via videolink for remand hearing in UK        Rupee slips 17 paise to 71.72 vs USD in early trade        US seeking balancing act in South Asia over Kashmir: Report        Pro-growth RBI minutes to cap yields; revives expectations for further policy easing        
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Business News
RCom tanks over 48%; other group shares crash too
 
New Delhi, Feb 4 (PTI) Shares of Reliance Communications fell sharply on Monday, tumbling over 48 per cent, after the company decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders.

The shares of Reliance Communications, after a weak opening, further crashed 48.27 per cent to its record low of Rs 6 on the BSE.

Heavy selling was also seen in other group shares, with Reliance Power cracking 29.22 per cent, Reliance Capital 19.37 per cent, Reliance Infrastructure 16.51 per cent and Reliance Naval and Engineering plunging 13.70 per cent on the BSE.

"RCom board of directors decides upon implementation of debt resolution plans through NCLT framework," the company said in a statement Friday.

It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.

The board of directors of RCom Friday reviewed the progress of the company's debt resolution plans since the invocation of strategic debt resolution on June 2, 2017.

The board noted that despite the passage of over 18 months, lenders have received zero proceeds from the proposed asset monetisation plans, and the overall debt resolution process is yet to make any headway, the statement said.

"Accordingly, the board decided that the company will seek fast track resolution through NCLT, Mumbai. The board believes this course of action will be in the best interests of all stakeholders, ensuring comprehensive debt resolution in a final, transparent and time bound manner within the prescribed 270 days," the statement said.


No more dessert names, Google to officially call new OS 'Android 10'
Sensex, Nifty rebound on hopes of FPI tax rollback
Nirav Modi to appear via videolink for remand hearing in UK
Rupee slips 17 paise to 71.72 vs USD in early trade
SBI plans to establish nearly 10 lakh YONO Cash Points
Sensex tumbles 268 pts; Tata Motors tanks 9 pc
Huawei dismisses new suspension of 'unjust' US ban
Rupee hits fresh 6-mth low of 71.71; dives 28 paise
China lost 20 lakhs jobs in short period of time: Trump
Rupee plunges to over 6-mth low of 71.43; skids 29 paise
Ready to help J&K hold investment summit in Mumbai: Fadnavis
Credit demand subdued, economy needs stimulus: SBI Chairman
Trump says Apple will spend 'vast sums' in US
Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park
Sensex, Nifty edge higher on stimulus talks; post weekly loss
Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki
Airtel shareholders approve waiver in recovery of excess pay to Mittal
Rupee slips 12 paise to 70.93 vs USD in early trade
Gaana looking to break-even in next 4-5 years
Rupee suffers biggest slump in 6 yrs; closes at 4-mth low of 70.73 on yuan shock
KERALA NEWS
Malayalam actor, film crew stranded in Himachal village
 Thiruvananthapuram: A 30-member film crew from Kerala, including award-winning actress Manju Warrier  
Ex-Deputy Commandant of AR camp held in connection with constable's death
"More flights to Kerala from Gulf countries during Onam"
Flood in Kerala: CM conducts aerial survey
INTERNATIONAL NEWS
Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi
 Islamabad: Pakistan on Friday said that despite tensions with India, it stands ready to open the Kar
Two Govt hospitals in Pak deny specialised ambulance facility to Sharif
UN, France raise concern over Amazon wildfires 'crisis'
US seeking balancing act in South Asia over Kashmir: Report
NATIONAL NEWS
INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter
 New Delhi: Congress leader and former union finance minister P Chidambaram was on Friday granted pro
Always said demonising Modi wrong: Singhvi
Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion
FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials
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