$\"\"$ MUMBAI: An arbitration court<\/a> has “restrained” Reliance Communications<\/a> (RCom<\/a>) from selling or transferring assets without its permission, and set June 9 as the date for the next hearing, dealing a blow to the Anil Ambani-owned telco’s efforts to pare debt by March end under a plan driven by its lenders.
\n
\n“We direct the Claimant (RCom)and its affiliates are restrained from transferring, alienating, encumbrance or disposing of any of its assets without specific permission\/leave of the Arbitral Tribunal,” the court of arbitration said in an interim order dated March 5.
\n
\n“The respondent (Ericsson) has made an arguable case and the tribunal is of the opinion that in the event it is denied any relief, it will suffer an irretrievable injury,” said Justice Swatanter Kumar, Justice VS Sirpurkar and Justice SB Sinha — all former Supreme Court judges — in their order, a copy of which has been reviewed by ET.
\n
\nA spokesperson for RCom — which is trying to pare its Rs 45,000-crore debt — said the operator will soon move the high court against the order. “We are looking into the matter and will move the Hon’ble High Court to oppose this directive,” the spokesperson said. The order came in an arbitration battle being fought between Ericsson and RCom with the Swedish equipment maker trying to recover its dues worth Rs 1,012 crore.
\n
\nThe equipment maker had said that if RCom is allowed to sell or transfer its assets, it would be turned into a shell company and Ericsson wouldn’t be able to get its money back.
\n
As things stand, the ruling stalls the company’s planned sale of most of its wireless assets including spectrum, tower, fibre and media convergence nodes Mukesh Ambani-owned Reliance Jio<\/a> Infocomm for over Rs20,000 crore, which was scheduled to be completed by March end. Jio did not respond to am emailed query seeking comment.
\n
The funds thus raised would be used to repay RCom’s 35 lenders. But in case RCom can’t repay by end of March, the lenders could take the company to the National Company Law Tribunal (NCLT) under the Insolvency & Bankruptcy Code<\/a>, 2016, especially after the central bank scrapped all debt recast schemes.
\n
China Development Bank<\/a>, which accounted for 37% of RCom’s secured debt, had also previously moved NCLT to recover dues worth Rs 11,460 crore, but withdrew it following an understanding with the telco after the Jio deal. Its condition was it could review its position if the money wasn’t repaid.
\n
\n“If RCom has been prevented to sell assets, then they will sure file and appeal in the court which means that the deal to sell assets to Reliance Jio could be delayed,” said a senior banker, asking not to be named.
\n
\nAnil Kher, senior advocate representing Ericsson in this case, claimed the development was a huge victory for the company. “The tribunal has secured our (Ericsson’s) money by passing the order. We have also filed a separate claim for Rs 1,600 crore that RCom owes as of October 11, 2017 with arbitral tribunal,” said Kher. He added that the Rs 1,012 crore was due till March, 2017, which has grown to Rs1,600 crore now, necessitating a separate claim from Ericsson. Ericsson has also separately moved NCLT to recover its dues from RCom, the hearing for which is due on March 9.
\n
\nRCom had late December just managed to avoid the possibility of ceding control to banks under a strategic debt restructuring programme, with the proposed sale of assets to Jio. After the sale to Jio, RCom exited the debt recast process. But the latest order puts a cloud on the sale process. The latest order said that substantial part of dues claimed by Ericsson have been “unequivocally admitted” to by RCom and transfer of assets, if allowed at this stage, would “render award passed by Tribunal in favour of respondent redundant”.
\n
\nRCom, prior and even during proceedings, had intended to delay the process and the “respondents will not be able to enjoy the fruits of decree if passed in their favour,” the order copy added.
\n\n<\/body>","next_sibling":[{"msid":63180012,"title":"SoftBank in talks with Paytm Mall for a Rs 3,000 crore round","entity_type":"ARTICLE","link":"\/news\/softbank-in-talks-with-paytm-mall-for-a-rs-3000-crore-round\/63180012","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":63180202,"entity_type":"ARTICLE","title":"Arbitration court bars Reliance Communications from selling or transferring assets","synopsis":"A spokesperson for RCom \u2014 which is trying to pare its Rs 45,000-crore debt \u2014 said the operator will soon move the high court against the order.","titleseo":"telecomnews\/arbitration-court-bars-reliance-communications-from-selling-or-transferring-assets","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479212895\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479212895.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":false,"msid":479212895,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2018-03-06 08:23:39","lastupd":"2018-03-06 08:25:39","breadcrumbTags":["RCom","Mukesh Ambani","Jio","Anil Ambani","Reliance communications","Insolvency & Bankruptcy Code","Legal","China Development Bank","industry","arbitration court"],"secinfo":{"seolocation":"telecomnews\/arbitration-court-bars-reliance-communications-from-selling-or-transferring-assets"}}" data-authors="[" devina sengupta"]" data-category-name="" data-category_id="" data-date="2018-03-06" data-index="article_1">

仲裁法庭禁止Reliance Communications出售或转移资产

发言人RCom——正试图削减其价值45000卢比的债务表示,运营商将很快把高等法院对订单。

Devina森古普塔,
等局

更新2018年3月6日08:25点坚持

孟买:一个仲裁法庭“约束”信实电信(信实电信未经其许可)出售或转移资产,并设置6月9日的日期下听力,打击了Anil Ambani-owned电信的努力削减债务在3月结束下一个计划由债权人。

“我们直接申请人(RCom)及其子公司限制转让、疏远,累赘或处置任何资产没有特定的许可/仲裁法庭的离开,”一个临时的仲裁法庭说订单日期为3月5日。

“被申请人(爱立信)作出了有争议的情况下,法庭认为事件是否认有任何慰藉,它将遭受无法挽救的伤害,“正义Swatanter Kumar说,正义与Sirpurkar Sinha和正义某人——所有前最高法院法官——在他们的订单,已审核等的副本。

发言人RCom——正试图削减其价值45000卢比的债务表示,运营商将很快把高等法院对订单。“我们正在调查此事,并将把鸿'ble高等法院反对这个指令,”这位发言人说。订单是在仲裁之间战斗的战斗与瑞典爱立信和信实电信设备制造商试图恢复其会费价值1012卢比。

设备制造商已经表示,如果允许RCom出售或转让其资产,它将变成了一个空壳公司,爱立信无法拿回自己的钱。

就目前的情况来看,执政党摊位公司计划出售其大部分的无线资产包括频谱、塔、纤维和媒体融合节点穆克什Ambani-owned依赖JioInfocomm了Rs20,000卢比,将完成在3月结束。Jio没有回复寻求置评的电子邮件查询。

因此筹措资金将用于偿还信实电信的35贷款人。但如果不能偿还RCom 3月底,银行可能需要公司国家公司法法庭(NCLT)破产和破产法,2016,特别是在中央银行取消了所有债务重新计划。

中国国家开发银行RCom占37%的担保债务,也曾感动NCLT恢复费价值11460卢比,但退出后的理解电信Jio后交易。其条件是可以审查它的位置如果钱不是偿还。

“如果一直阻止RCom出售资产,然后他们将确定文件并上诉的法院这意味着交易出售资产依赖Jio可能延迟,”一位资深银行家表示,要求不透露姓名。

Anil kh、高级代表爱立信提倡在这种情况下,声称公司的发展是一个巨大的胜利。“我们(爱立信)法庭已获得的钱通过订单。我们也提出一个单独的索赔1600卢比,欠RCom截至10月11日,2017年,仲裁法庭,“kh说。他补充说,1012卢比是由于直到3月,2017年,已发展到Rs1,600卢比的现在,需要一个单独的从爱立信声称。爱立信还分别从RCom NCLT搬到恢复其会费,定于3月9日的听证会。

12月底刚刚RCom设法避免控制权的可能性银行战略下的债务重组计划,与Jio拟议的出售资产。出售Jio后,退出RCom债务重塑过程。但是最近的订单让云销售过程。最新订单费宣称说,相当一部分内容是由爱立信已经明确承认“信实电信的资产转移,如果允许在这个阶段,会被“渲染奖通过法庭支持冗余”。

,甚至在诉讼之前,RCom本来打算推迟过程和“受访者将无法享受法令的水果如果传入他们的支持,“订单复制补充道。

发布于2018年3月6日08:23点坚持

$\"\"$ MUMBAI: An arbitration court<\/a> has “restrained” Reliance Communications<\/a> (RCom<\/a>) from selling or transferring assets without its permission, and set June 9 as the date for the next hearing, dealing a blow to the Anil Ambani-owned telco’s efforts to pare debt by March end under a plan driven by its lenders.
\n
\n“We direct the Claimant (RCom)and its affiliates are restrained from transferring, alienating, encumbrance or disposing of any of its assets without specific permission\/leave of the Arbitral Tribunal,” the court of arbitration said in an interim order dated March 5.
\n
\n“The respondent (Ericsson) has made an arguable case and the tribunal is of the opinion that in the event it is denied any relief, it will suffer an irretrievable injury,” said Justice Swatanter Kumar, Justice VS Sirpurkar and Justice SB Sinha — all former Supreme Court judges — in their order, a copy of which has been reviewed by ET.
\n
\nA spokesperson for RCom — which is trying to pare its Rs 45,000-crore debt — said the operator will soon move the high court against the order. “We are looking into the matter and will move the Hon’ble High Court to oppose this directive,” the spokesperson said. The order came in an arbitration battle being fought between Ericsson and RCom with the Swedish equipment maker trying to recover its dues worth Rs 1,012 crore.
\n
\nThe equipment maker had said that if RCom is allowed to sell or transfer its assets, it would be turned into a shell company and Ericsson wouldn’t be able to get its money back.
\n
As things stand, the ruling stalls the company’s planned sale of most of its wireless assets including spectrum, tower, fibre and media convergence nodes Mukesh Ambani-owned Reliance Jio<\/a> Infocomm for over Rs20,000 crore, which was scheduled to be completed by March end. Jio did not respond to am emailed query seeking comment.
\n
The funds thus raised would be used to repay RCom’s 35 lenders. But in case RCom can’t repay by end of March, the lenders could take the company to the National Company Law Tribunal (NCLT) under the Insolvency & Bankruptcy Code<\/a>, 2016, especially after the central bank scrapped all debt recast schemes.
\n
China Development Bank<\/a>, which accounted for 37% of RCom’s secured debt, had also previously moved NCLT to recover dues worth Rs 11,460 crore, but withdrew it following an understanding with the telco after the Jio deal. Its condition was it could review its position if the money wasn’t repaid.
\n
\n“If RCom has been prevented to sell assets, then they will sure file and appeal in the court which means that the deal to sell assets to Reliance Jio could be delayed,” said a senior banker, asking not to be named.
\n
\nAnil Kher, senior advocate representing Ericsson in this case, claimed the development was a huge victory for the company. “The tribunal has secured our (Ericsson’s) money by passing the order. We have also filed a separate claim for Rs 1,600 crore that RCom owes as of October 11, 2017 with arbitral tribunal,” said Kher. He added that the Rs 1,012 crore was due till March, 2017, which has grown to Rs1,600 crore now, necessitating a separate claim from Ericsson. Ericsson has also separately moved NCLT to recover its dues from RCom, the hearing for which is due on March 9.
\n
\nRCom had late December just managed to avoid the possibility of ceding control to banks under a strategic debt restructuring programme, with the proposed sale of assets to Jio. After the sale to Jio, RCom exited the debt recast process. But the latest order puts a cloud on the sale process. The latest order said that substantial part of dues claimed by Ericsson have been “unequivocally admitted” to by RCom and transfer of assets, if allowed at this stage, would “render award passed by Tribunal in favour of respondent redundant”.
\n
\nRCom, prior and even during proceedings, had intended to delay the process and the “respondents will not be able to enjoy the fruits of decree if passed in their favour,” the order copy added.
\n\n<\/body>","next_sibling":[{"msid":63180012,"title":"SoftBank in talks with Paytm Mall for a Rs 3,000 crore round","entity_type":"ARTICLE","link":"\/news\/softbank-in-talks-with-paytm-mall-for-a-rs-3000-crore-round\/63180012","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":63180202,"entity_type":"ARTICLE","title":"Arbitration court bars Reliance Communications from selling or transferring assets","synopsis":"A spokesperson for RCom \u2014 which is trying to pare its Rs 45,000-crore debt \u2014 said the operator will soon move the high court against the order.","titleseo":"telecomnews\/arbitration-court-bars-reliance-communications-from-selling-or-transferring-assets","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479212895\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479212895.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":false,"msid":479212895,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2018-03-06 08:23:39","lastupd":"2018-03-06 08:25:39","breadcrumbTags":["RCom","Mukesh Ambani","Jio","Anil Ambani","Reliance communications","Insolvency & Bankruptcy Code","Legal","China Development Bank","industry","arbitration court"],"secinfo":{"seolocation":"telecomnews\/arbitration-court-bars-reliance-communications-from-selling-or-transferring-assets"}}" data-news_link="//www.iser-br.com/news/arbitration-court-bars-reliance-communications-from-selling-or-transferring-assets/63180202">

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仲裁法庭禁止Reliance Communications出售或转移资产

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