SC asks RCom, RJio to maintain status quo till Apr 5 reg sale deal

Supreme Court on Thursday asked the Reliance Communication (RCom) and Reliance Jio (RJio) to maintain status quo till April 5, Thursday, with regard to Rs 25,000-crore assets sale deal.

A three-judge bench of the apex court, headed by Justice Adarsh Kumar Goel, and also comprising Justice Rohinton Fali Nariman and Justice Uday Umesh Lalit passed the status quo order and posted the matter for final hearing on April 5, Thursday.

In the meantime, the top court also allowed parties to file their detailed written submissions by March 28, Wednesday.

“A status quo has to be maintained by the parties till we hear the case again on April 5, Thursday for final hearing. Nobody, no entity can sell or purchase anything till April 5, ” the three-judge bench of the court said.

The top court made it clear that the sale of RCom assets of Anil Ambani company to his elder brother Mukesh Ambani’ Reliance Jio Infocomm (Jio) will be subject to the apex court’s final order.

The Apex Court also today directed the companies to maintain a status quo which means that the deal cannot be finalised without the Supreme Court approval.

 

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