RCom stock crashes, company files for bankruptcy

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RCom stock crashes, company files for bankruptcy

Feb 04, 2019 11:43 IST

Reliance Communications shares crashed as much as 54% in early trade . That's after the company announced it has decided to file for bankruptcy to resolve debt issues. The Anil Ambani-led firm said the decision comes after the board couldn't get 100% approval on debt resolution - even after 45 meeting over the last year with 40 lenders. R Comm has over 40,000 crore rupees in debt and says it will now seek fast-track resolution through NCLT.

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