Anil Ambani's RCom rises as bankruptcy case reportedly halted

Swan Defence and Heavy Industries

27/08/2020 08:37

** Shares in Indian businessman Anil Ambani-controlled
Reliance Communications (RCom)  RLCM.NS  rise 4.1% after a
report that the bankruptcy case against the one-time billionaire
has been halted
    ** Court tells Ambani not to sell assets for now, news
channel ET Now reports https://twitter.com/ETNOWlive/status/1298871910315384832,
 citing agencies 
    ** Other Indian companies linked to Ambani also rise:
Reliance Power  RPOL.NS  rises 5.56%, Reliance Capital  RLCP.NS 
up 4.4%, Reliance Infrastructure  RLIN.NS  rises 4.9%, Reliance
Naval and Engineering  RELV.NS  up 4.2%
    ** Anil Ambani is either chairman or a shareholder in these
companies
    **  Last year, India's richest man Mukesh Ambani had helped
his brother avoid jail time by paying off debt owed by RCom to
Sweden's Ericsson  ERICb.ST  (https://reut.rs/31uqHE3)
    
($1 = 73.9820 Indian rupees)

 (Reporting by Philip George in Bengaluru)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))