The National Company law Tribunal has approved the withdrawal of merger deal between Reliance Communications and Aircel, as per a regulatory filing. “The National Company law Tribunal, Mumbai Bench (NClT) has passed orders dated October 13, 2017 approving withdrawal of the Scheme of Arrangement between the Company, Reliance Telecom limited (RTl), Aircel limited, Dishnet Wireless limited, Deccan Digital Networks Private limited, South Asia Communications Private limited and their respective shareholders and creditors for demerger of wireless business of the Company and RTl to Aircel...,” RCom said in a BSE filing on Saturday.
The order also approved withdrawal of demerger of tower business of Reliance Infratel to Towercom Infrastructure, the filing said.