Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 Cr NPA for Indian and Foreign Banks

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    New Delhi, April 18 | The National Company Law Appellate Tribunal (NCLAT) ruling of last week in the Aircel Vs. Department of Telecommunications (DOT) case has cast a shadow on the resolution plans of Aircel and Reliance Communication Ltd. (RCOM).

    According to experts, based on the NCLAT Judgement, the Resolution Plan of UV Asset Reconstruction Company Ltd. (UVARCL) for Aircel, which was approved in June 2020, will be unworkable and the company will be heading for liquidation, resulting in zero recovery for Rs 18,000 crore owed to the lenders.

    The biggest loss will be State Bank of India of Rs 5,000 crore followed by Bank of Baroda, Canara Bank, Punjab National Bank and China Development Bank.

    UVARCL is also the successful bidder for the assets of RCOM and RTL, which primarily include spectrum and real estate.

    NCLAT in its last week’s judgment has stated that spectrum can be sold under the insolvency process only after the government dues are cleared. It has also held that Spectrum cannot be treated as a ‘security interest’ by the lenders. However, the Tribunal held that the Government is an operational creditor.

    In the matter of Ghanashyam Mishra and Sons Private Ltd. Vs. Edelweiss Asset Reconstruction Company Ltd, the Supreme Court has held that operational creditors can not claim any amount over and above the Resolution Plan as approved by Committee of Creditors (COC).

    It is clear that DoT as operational creditor can not recover any AGR dues ahead of financial creditors. Aircel and RCOM owe Rs 12,389 crore and Rs 26,000 crore respectively to the DOT as AGR dues.

    The NCLAT judgement will also have an impact on the debt resolution of Reliance Communication Ltd (RCOM) and Reliance Telecom Ltd (RTL) as well. The Resolution Plan of RCOM and RTL was duly approved by 100 per cent of lenders and is awaiting approval of NCLT, Mumbai since March 2020.

    Liquidation of RCOM and RTL will result in loss of Rs 40,000 crore to 38 Lenders, Chinese Banks led by China Development Bank will lose Rs 9,000 crore, SBI – Rs 3,000 crore, and LIC – Rs 3,700 crore.

    According to sources, the Committee of Creditors for Aircel and RCOM is going to appeal before the Apex court and vigorously fight for favourable judgement of the apex court.

    Source: IANS

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    Social Media Expert And Founder Of Aapno Rajasthan Durgesh Dhaker Gives His Two Cents On Growing One's Reach Online

    Social Media Expert And Founder Of Aapno Rajasthan Durgesh Dhaker Gives His Two Cents On Growing One's Reach Online

    “Work and you’ll get what you need; work harder and you’ll get what you want”.

    The above-mentioned quote speaks volumes about the courage of those who have made substantial breakthroughs in their life with hardwork and dedication.

    One such committed individual who is preparing several notable names with their social media reach is Durgesh Dhaker. An agile and someone who keeps himself upbeat with the happenings in the country, Durgesh has acquired expertise in carving the social media strategies for various stalwarts. He is also the founder of Aapno Rajasthan

    facebook page with more than 1 million likes which he gain within very short time with his expertise.

    Coming from the beautiful city of Chittorgarh in the land of Rajasthan, Durgesh Dhaker is making his parents and fellows pride of his strides and success acquired through hustling with perseverance. His social media expertise enables him to give his top tips for growing one’s social media presence, it is as below-

    1-Create a network

    Social media comprises of a huge number of people who need to build their reach, subsequently, it turns into a fiercely cutthroat spot where every individual is attempting to draw in mass consideration, thus it is basic that we upgrade our activities to pick a specialty which suits our inclinations, it ought to be something that you are prepared to deal with for quite a while of your life.

    Zero in on making an intuitive substance that can be discovered when somebody looks for it, the most ideal approach to do is to is utilize significant hashtags on Facebook, Twitter, etc.

    2-Create steady, quality posts that are relatable

    Today, the web has enough data however we can help our supporters discover quality data that isn’t excess by posting relatable substance according to our niche, recall, forthright, valuable, and quality substance is as yet restricted on the web, consequently assuming you give individuals what they are searching for reliably, gradually and slowly, you will see considerable development in individuals who follow you.

    3-Social media showcasing/connecting websites

    Social media marketing is perhaps the most ideal approach to get ideal reach online, to see speedy outcomes, posting cool videos, and opinion on the latest happenings are some methods which can be deployed. If one has a website on their name or related to their field of work then those can be attached on social media profiles to promote them better.

    In a nutshell, we can conclude that, according to Durgesh Dhaker, the top way to grow your social media presence is by being relevant and consistent with the content that is suited to the tastes of your target audience, linking several web pages and blogs to boost traffic and last but not the least correct marketing of your content that can lead to conversions.

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