Mukesh Ambani helps Anil Ambani:
We all know that Anil Ambani-led Reliance Infratel went bankrupt. But this company is trying to acquire assets. But this settlement is finally ending after 2 years.
Reliance Jio Infocomm has filed a fresh application in the National Company Law Tribunal in Mumbai. In this application, Reliance Infratel has disclosed that it is ready to deposit Rs.3,720 crore in an escrow account with State Bank of India to acquire the company and its assets. Through this, Jio will acquire the telecom tower and fiber assets of bankrupt Reliance Communications.
Anil Ambani Went Bankruptcy:
Anil Ambani’s Reliance Communications has lost customers due to intense competition in the telecom market. As a result, the company defaulted on its loans to the banks and went bankrupt.
However, Reliance Jio has been selected to buy the company’s assets under Reliance Infratel. But there is a delay in owning the properties. However, Jio said in a report submitted to the NCLT on October 20 that the value of the resolution funds is depreciating due to ongoing disputes between creditors over the disbursement of resolution funds.
Collapsed Anil Empire:
Despite many problems between Mukesh Ambani and Anil Ambani for several years, Anil Ambani’s empire collapsed due to the bankruptcy of Reliance Communications. With this, Mukesh Ambani’s Reliance Jio showed interest as no one came forward to buy RCom’s assets.
Anil Thanks Mukesh for Supporting:
Not only did the Ambani brothers become closer with this announcement, Anil Ambani also thanked him for helping him. After this, in the case filed against Anil Ambani in the London court, he had previously declared that he has no assets and the value of his assets is zero.