March 8, 2018 / 10:03 AM / 9 months ago

BRIEF-Reliance Communications Intends To Appeal Against Mumbai HC Order Regarding Sale Of Assets

March 8 (Reuters) - Reliance Communications Ltd:

* SAYS CO INTENDS TO FILE APPEAL AGAINST INTERIM ORDER OF MUMBAI HIGH COURT REGARDING SALE OF ASSETS

* SAYS SALE OF ASSETS BEING UNDERTAKEN IN PURSUANCE OF DECISIONS OF SECURED FINANCIAL LENDERS

* “CLAIMS OF SECURED FINANCIAL LENDERS STAND HIGHER IN PRIORITY AS COMPARED TO ERICSSON, WHICH IS AN UNSECURED OPERATIONAL VENDOR”‍​ Source text - We intend to file an appeal against the interim order of the Hon’ble Mumbai High Court. The claims of secured financial lenders stand higher in priority as compared to Ericsson, which is an unsecured operational vendor. Further, the sale of assets is being undertaken in pursuance of the decisions of the secured financial lenders Further company coverage:

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