The Supreme Court on Thursday refused to lift the stay on sale of assets of Reliance Communications. The apex court directed the company to move to National Company Law Tribunal (NCLT) with respect to the sale of asset.
The court had directed Reliance Communications (RCom) to hold on from selling its assets to Reliance Jio for Rs 25,000 crore.
RCom had submitted its resolution plan in December, which stated that its wireless spectrum, tower, fiber and media convergence node (MCN) assets will be bought by Jio.