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RCOM holds second CoC meeting to discuss updates and appointment of other advisors

July 15, 2019
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Reliance Communications (RCOM) recently held its second committee of creditors (CoC) meeting to discuss operational updates between the interim resolution professional (IRP) and the resolution professional (RP) and the appointment of other advisors.

As per a regulatory filing by RCOM, the meeting held on July 9, 2019 was conducted to provide an update on the handover/transitional support taken by the RP from the erstwhile IRP including operational updates and discussions that were held regarding the appointment of inter alia other professional advisors/service providers such as RP legal advisor, CoC legal advisor, registered valuers process advisors, transaction review auditor, forensic auditor and the virtual data room service provider.

Earlier, on June 21, 2019, the bankruptcy court had appointed Deloitte as the RP for RCOM and its units -Reliance Telecom and Reliance Infratel. Till then, the IRP for the operator reeling under a debt of Rs 460 billion was RBSA Advisors.

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