RCOM subsidiary reaches settlement with minority investors
New Delhi, May 29 : Reliance Infratel, a subsidiary of Reliance Communications (RCOM), has informed the National Company Law Appellate Tribunal (NCLAT) on Tuesday that an amicable settlement has been arrived at with its minority investors holding 4.26 per cent equity in the company, and consent terms will be filed shortly.
In a regulatory filing, RCOM said: "The settlement with the minority investors paves the way for vacation of the stay granted by the NCLT on the sale of RITL's tower and fibre assets, and will enable the company to proceed with asset monetisation of Rs 8,000 crore as soon as the company exits the debt resolution process under NCLT, for which its appeal, supported by all its lenders, is fixed for hearing today i.e. , that is, Tuesday, May 29, 2018 before the Hon'ble NCLAT."
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Iran president death: India announces one-day state mourning on May 21
New Delhi, May 20: A one-day state mourning will be observed across India on Tuesday as a mark of respect for Iranian President Ebrahim Raisi, who died in a helicopter crash, the Union Home Ministry has announced.
The national flag will be flown at half-mast on all buildings where it is regularly flown across India and there will be no official entertainment during the period of state mourning.
The Iranian president, the country's foreign minister and several other officials were found dead on Monday, hours after their helicopter crashed in a foggy, mountainous region of the country's northwest, Iran state media reported.
A home ministry spokesperson said Seyyed Ebrahim Raisi, president of the Islamic Republic of Iran, and Hossein Amit-Abdollahian, the country's foreign minister, passed away in a helicopter crash.
"As a mark of respect to the departed dignitaries, the government of India has decided that there will be one day's state mourning on May 21 (Tuesday) throughout India," the spokesperson said.
"On the day of mourning, the national flag will be flown at half-mast throughout India on all buildings where the national flag is flown regularly and there will be no official entertainment on the day," the official added.
