PR firm files insolvency case against RCom at NCLT

1 min read 04 Dec 2017, 07:08 PM IST Bhuma Shrivastava

Fortuna Public Relations filed the insolvency case against RCom at the Mumbai bench of NCLT saying the telecom firm owes it Rs43 lakh

Reliance Group chairman Anil Ambani. The Fortuna Public Relations joins a list of creditors, including China Development Bank, Manipal Technologies Ltd and the Indian unit of Ericsson AB, seeking to compel debt repayment from RCom. Photo: Reuters

Mumbai: A public relations (PR) firm became the latest company to ask the National Company Law Tribunal (NCLT) to place Anil Ambani’s Reliance Communications Ltd (RCom) under insolvency proceedings after the unprofitable mobile phone operator failed to pay its dues.

Fortuna Public Relations Pvt. placed its request with the Mumbai bench of NCLT on Monday, saying RCom owes it Rs43 lakh ($67,000). The NCLT plans to hear the case on 19 December.

The PR firm joins a list of creditors, including China Development Bank, Manipal Technologies Ltd and the Indian unit of Ericsson AB, seeking to compel repayment from RCom.

RCom didn’t immediately respond to an email seeking comments.

Reliance Communications was once the country’s second-largest phone operator. Bloomberg

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

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