Mukesh Ambani will purchase RCom of youthful brother

by Jeremy Spirogis
India's cleanest city for 4th consecutive time

To save Anil Ambani from bother, elder brother Mukesh Ambani has as soon as once more come ahead. The nation's greatest industrialist Mukesh Ambani goes to purchase the bankrupt Reliance Communication of his youthful brother Anil Ambani. According to the knowledge, SBI has accepted the decision plan of RCom. Banks hope that banks will get 23 thousand crore rupees from this plan. Let us inform you that RCom has a debt of about 82 thousand crores. Mukesh Ambani has already saved Anil Ambani from going to jail by giving Rs 500 crore.
Experts related to the case say that SBI board has accepted the decision plan of RCom. <! –

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                 Today is the final day of the assembly of the Committee of Creditors relating to the decision plan. The secured debt on RCom is 33000 crores and the lenders have claimed 49000 crores.
Recently, RCom had tried to repay its debt by promoting its property. For this, Anil Ambani had additionally approached Reliance Jio, which is owned by Mukesh Ambani. However, this deal couldn’t be accomplished for a number of causes. Jio had refused to purchase the property of RCom. Jio stated that she doesn’t need her to bear the heavy debt of RCom. Later the Swedish telecom firm Ericsson filed an enchantment for insolvency and the method started.
Now Mukesh Ambani's Reliance Jio has supplied Rs 4700 crore to purchase RCom's tower and fiber business (Reliance Infratel). UV Asset Reconstruction Company has bid Rs 14700 crore for property of RCom and Reliance Telecom. RCom has to repay the excellent of 4300 crores on precedence foundation to Indian and Chinese Creditors.

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