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Bank of Baroda plans international auction of Rs 1,838 crore RCom debt

Bank of Baroda is planning to sell its debt exposure in Reliance Communications (RCom) through an international auction. The exposure is pegged at Rs 1,838.16 crore. Bank of Baroda has reportedly classified its RCom exposure as a non-performing asset (NPA), and will shortly invite expressions of interest (EoIs) from potential buyers keen to pick up the debt. The TDSAT has also asked the Department of Telecommunications (DoT) to reconsider granting approval to RCom’s deal with Reliance Jio for sale of spectrum assets. TDSAT held that liability of past spectrum dues lies purely with the seller and not the buyer.

Read More at The Economic Times News date : 27 Feb 2019, Wednesday

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