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DoT contests resolution plan

The department says it will not recover its dues from the plan proposed by the lenders
The DoT has opposed the resolution plan of R-Com and its subsidiary Reliance Telecom

Our Special Correspondent   |   Mumbai   |   Published 20.08.20, 01:15 AM

The DoT has opposed the resolution plan of R-Com and its subsidiary Reliance Telecom (RTL) citing it will not recover its dues from the plan proposed by the lenders .

The Mumbai bench of the National Company Law Tribunal (NCLT), which is hearing the R-Com resolution plan on Wednesday, told the DoT to file an affidavit by Friday .

In March this year, the lenders of R-Com had given its green signal to a Rs 23,000 crore resolution plan. While Reliance Jio will get the tower and fiber assets of Reliance Infratel Ltd for Rs 4,700 crore, UV Asset Reconstruction Co Ltd (UVARCL) will get the spectrum for Rs 14,000 crore.

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