NCLT finds RCIL resolution plan non-implementable; CoC to decide future course
The NCLT has declared Reliance Communications Infrastructure Limited's (RCIL) approved resolution plan as non-implementable in its current form. The NCLT has directed the erstwhile Resolution Professional to convene a Committee of Creditors (CoC) meeting within 30 days to decide the future course of action. The case is listed for September 24, 2026.
The NCLT's decision directly impacts the resolution process of a subsidiary, potentially leading to further delays, re-evaluation of the plan, or even re-initiation of CIRP, which has a high impact on the overall financial and operational standing of the parent company and its subsidiaries.
The NCLT's observation that the resolution plan is non-implementable and the subsequent direction for a CoC meeting to decide future actions indicates a significant setback and uncertainty for the resolution process, negatively impacting the outlook.
Reliance Communications Limited (RCOM) has announced that the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, in its order dated August 21, 2026, disposed of applications related to the Corporate Insolvency Resolution Process (CIRP) of its subsidiary, Reliance Communications Infrastructure Limited (RCIL).
The NCLT observed that the approved Resolution Plan for RCIL is not implementable in its current form. Consequently, the erstwhile Resolution Professional of RCIL has been directed to convene a meeting of the erstwhile Committee of Creditors (CoC) within 30 days from the order date to discuss the situation and decide on the future course of action based on their commercial wisdom.
The matter has been scheduled for further listing before the Hon'ble NCLT on September 24, 2026. The NCLT's order indicated that the approved resolution plan faces significant challenges in implementation, particularly concerning the payment of mandatory dues to dissenting financial creditors and the overall financial outlay. The tribunal noted that while the Resolution Applicant (SRA) has been in use of certain assets, no concrete steps towards resolution have been taken. The NCLT has directed the erstwhile Resolution Professional to convene a CoC meeting to address the non-implementability of the plan and chart a path forward.
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Reliance Communications Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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