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Two wholly owned subsidiaries of Reliance Communications Ltd have approved selling certain properties owned by them including Dhirubhai Ambani Knowledge City in Navi Mumbai.
In an exchange filing on Monday, Reliance Communications said its two subsidiaries Reliance Realty Ltd and Campion Properties Ltd will soon be approaching it for seeking the necessary approvals for initiating the process of the sale of the properties and identification of potential buyers.
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Reliance Communications is currently undergoing bankruptcy proceedings.
The resolution professional of the company has deliberated over the above matter with the committee of creditors of the company, but no approval has been sought from or given by the lenders regarding the sale of the properties at this stage, it added.
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