NCLT’s Mumbai Bench, in its order dated August 21, 2026, held that the resolution plan of Reliance Communications Infrastructure Ltd. (RCIL), led by Anil Ambani, could not be implemented in its existing form due to a funding shortfall.
Under the plan, dissenting financial creditors (DFCs) are required to receive approximately ₹318.67 crore on a priority basis. Against this requirement, the liquid funds available with the Resolution Professional (RP), together with the additional amount to be provided by the Successful Resolution Applicant (SRA), total ₹301.72 crore.
This leaves a funding gap of approximately ₹16.95 crore between the amount required for payment and the funds available under the plan.
The funding shortfall is the main impediment to implementing the resolution plan in its existing form.
NCLT has directed the Resolution Professional to convene a meeting of the Committee of Creditors (CoC) within 30 days. The CoC will decide the further course of action based on its commercial considerations.
The CoC may determine how to proceed with the existing resolution plan and whether changes to the plan are required. The next hearing in the matter is scheduled for September 24, 2026.
