Rcom at 5% UC

about 2 months ago
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Reliance Communication had hit the 5% LC yesterday at 81 paise but today, the moment it opened for trade, it hit the 5% UC at 85 paise.

Yesterday, the UK High Court issued an order, dismissing the $680 million claim application filed by Chinese banks against Anil Ambani on account Chinese banks' corporate loans given to Rcom.

It is reported by Business Standard that what swung in favour of Anil Ambani was his position that the claim made by Chinese banks in relation to his alleged guarantee for corporate loans availed by Rcom could not be granted by way of a summary judgement has been duly upheld by the UK High Court.

The company’s secured debt is currently pegged at Rs.33,000 crore while lenders have claimed around Rs.44,000 crore.

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