The National Company Law Tribunal (NCLT) admitted proposals for the merger between Aircel and Reliance Communications wireless business, as well as the latter’s sale of its tower business to Canada’s Brookfield.
The telecom department had also asked NCLT to direct RCom and Aircel to get permission from the Supreme Court before filing their merger plea. The Merged entities will be called as ‘Aircom’ and both will have 50% equity stake.
Important Takeaways from Above News-
- Mahesh Mittal Kumar is the President of NCLT.
- NCLT has been constituted by the Central Government with effect from 01 June 2016.
Source- The Indian Express