RCom shares sink 20% after tribunal admits insolvency plea
Shares of billionaire Anil Ambani-led Reliance Communications (RCom) dropped as much as 20% on Wednesday after an insolvency plea filed by Sweden's Ericsson was admitted by a bankruptcy tribunal. Ericsson is seeking to recover â¹1,155 crore from the company and two of its subsidiaries. RCom will be liquidated if a debt repayment plan is not worked out in 270 days.