Economics
Public-Relations Company Seeks Insolvency Proceedings for RCom
- Unpaid dues of 4.3 million rupees from RCom, Fortuna says
- Fortuna suit follows those of CDB, Manipal Tech and Ericsson
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A public-relations firm became the latest company to ask an Indian tribunal to place billionaire Anil Ambani-run Reliance Communications Ltd. under insolvency proceedings after the unprofitable mobile-phone operator failed to pay its dues.
Fortuna Public Relations Pvt. placed its request with the Mumbai bench of National Company Law Tribunal on Monday, saying Reliance Communications owes it 4.3 million rupees ($67,000). The NCLT plans to hear the case on Dec. 19.