Land, offices of Anil Ambani's bankrupt company in Pune, Chennai, Bhubaneswar among assets to be sold

In the latest update for the beleaguered telecom giant Reliance Communications (RCom), the sale of some of its land parcels, office spaces and stake have been approved for sale by National Company Law Tribunal (NCLT) Mumbai. 

The NCLT’s Mumbai branch issued an order approving the sale of some of its assets and shares by the company’s resolution professional, according to a regulatory filing by RCom on Wednesday.

The insolvency tribunal has given the nod to “sell assets of Corporate Debtor” (RCom) under “Regulation 29 of the CIRP Regulations”. The NCLT said in the December 7 order that the assets can be sold after the resolution plan is submitted for approval. 

The RCom assets which may be sold include office in Chennai which consists of building and land, office in Bhubaneswar, a land parcel in Pune of 871.1 square metres, 3.44 acres in Ambattur in Chennai and shares of the company in Reliance Realty and Campion Properties.