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The latest announcement is out from Reliance Communications Limited ( (IN:RCOM) ).
Reliance Communications Limited has been informed by the Bank of Maharashtra that its loan account has been classified as ‘fraud’. This development comes as the company is undergoing a corporate insolvency resolution process. The classification pertains to credit facilities prior to the insolvency process, and the resolution of these issues is expected to be addressed as part of the ongoing resolution plan. The company is protected from legal proceedings during this process, and any avoidance transactions are under review and subject to the decision of the National Company Law Tribunal.
More about Reliance Communications Limited
Reliance Communications Limited operates in the telecommunications industry, providing a range of communication services. The company is currently under corporate insolvency resolution process, with its operations managed by a resolution professional.
Average Trading Volume: 1,332,788
Technical Sentiment Signal: Sell
Current Market Cap: 3.93B INR
For detailed information about RCOM stock, go to TipRanks’ Stock Analysis page.