PR firm files insolvency case against RCom at NCLT
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
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