Reliance Communications Limited | Tel : +91 022 3038 6286 |
Dhirubhai Ambani Knowledge City | Fax: +91 022 3037 6622 |
Navi Mumbai - 400 710, India | www.rcom.co.in |
September 03, 2021 | |
The General Manager | The Manager |
Corporate Relationship Department | National Stock Exchange of India Ltd. |
BSE Limited | Exchange Plaza, C/1, Block G |
Phiroze Jeejeebhoy Towers | Bandra - Kurla Complex, Bandra (East) |
Dalal Street, Fort, | Mumbai 400 051 |
Mumbai 400 001 | Fax No.: 2659 8237 / 38/8347/48 / |
Fax No.: 2272 2037/39/41/61/3121/3719 | 66418124/25/26 |
BSE Scrip Code: 532712 | NSE Symbol: RCOM |
Dear Sir, |
Sub: Notice of 17th Annual General Meeting and Annual Report 2020-21
This is to inform that the 17th Annual General Meeting (AGM) of the members of the Company will be held on Saturday, September 25, 2021 at 11:30 A.M. (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM).
The Annual Report for the financial year 2020-21, including the notice convening the AGM, is enclosed herewith.
The Company will provide to its members the facility to cast their vote(s) on all resolutions set out in the Notice by electronic means ('e-voting'). The detailed process to join meeting through VC / OAVM and e-voting, are set out in Notice.
Yours faithfully,
For Reliance Communications Limited
Rakesh Gupta
Company Secretary
Encl.: As above
(Reliance Communications Limited is under corporate insolvency resolution process pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016. With effect from June 28, 2019, its affairs, business and assets are being managed by, and the powers of the board of directors are vested in, the Resolution Professional, Mr. Anish Niranjan Nanavaty, appointed by Hon'ble National Company Law Tribunal, Mumbai Bench, vide order dated June 21, 2019 which was published on the website of the Hon'ble National Company Law Tribunal, Mumbai Bench on June 28, 2019).
Registered Office:
Reliance Communications Limited. H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai - 400 710
CIN No.: L45309MH2004PLC147531
Communications
Annual Report
2020-21
Profile
Reliance Communications Limited (RCOM), together with its subsidiary Globalcom IDC Limited, is a telecommunication service provider with businesses including India Data Center Business and India National Long Distance business. RCOM conducts a substantial portion of its business through subsidiary companies, including Globalcom IDC Limited and Reliance Infratel Limited.
Directors | Contents | Page No. | |
Shri Anil Dhirubhai Ambani | - Chairman | ||
Notice of Annual General Meeting................................................ | 4 | ||
Shri Punit Garg | |||
Shri Suresh Rangachar | |||
Directors' Report............................................................................ | 12 | ||
Smt. Manjari Kacker | |||
Smt. Ryna Karani | |||
Smt. Chhaya Virani | Management Discussion and Analysis......................................... | 22 | |
Shri Vishwanath Devaraja Rao | - Executive Director and | ||
Chief Financial Officer | |||
Business Responsibility Report..................................................... | 25 | ||
Resolution Professional | |||
Corporate Governance Report...................................................... | 31 | ||
Shri Anish Niranjan Nanavaty | |||
Investor Information..................................................................... | 48 | ||
Company Secretary and Compliance Officer | |||
Independent Auditors' Report on | |||
Shri Rakesh Gupta | |||
Standalone Financial Statements................................................ | 57 | ||
Statutory Auditors | |||
Balance Sheet................................................................................ | 70 | ||
M/s. Pathak H. D. & Associates, LLP, Chartered Accountants | |||
Statement of Profit and Loss....................................................... | 71 | ||
Registered Office |
H Block, 1st Floor
Dhirubhai Ambani Knowledge City Navi Mumbai 400 710
CIN: L45309MH2004PLC147531
Tel.: +91 22 3038 6286
Fax: +91 22 3037 6622
E-mail: rcom.investors@relianceada.com
Website: www.rcom.co.in
Registrar and Transfer Agent
KFin Technologies Private Limited, Unit: Reliance Communications Limited, Selenium Tower - B, Plot No. 31 & 32, Survey No. 116/22, 115/24, 115/25, Financial District, Nanakramguda, Hyderabad 500 032. Telangana Website: www.kfintech.com
Investor Helpdesk
Toll free no (India) | : | 1800 309 4001 |
Tel. | : +91 40 6716 1500 | |
Fax | : +91 40 6716 1791 | |
: | rcom@kfintech.com |
Statement of Changes in Equity.................................................. | 72 |
Cash Flow Statement................................................................... | 73 |
Notes to the Financial Statements.............................................. | 75 |
Independent Auditors' Report on | |
Consolidated Financial Statements........................................... | 123 |
Consolidated Balance Sheet...................................................... | 132 |
Consolidated Statement of Profit and Loss............................. | 133 |
Consolidated Statement of Changes in Equity........................ | 134 |
Consolidated Cash Flow Statement......................................... | 135 |
Notes to the Consolidated Financial Statements.................... | 136 |
Statement containing salient features of the | |
financial statements of subsidiaries/ | |
associate companies / joint ventures....................................... | 190 |
17th Annual General Meeting on Saturday, September 25, 2021 at 11.30 A.M. (IST)
through Video Conference (VC) / Other Audio Visual Means (OAVM)
This Annual Report can be accessed at www.rcom.co.in
Reliance Communications Limited
Notice
Notice is hereby given that the 17th Annual General Meeting (AGM) of the Members of Reliance Communications Limited ("Company" or "RCOM"), a company undergoing corporate insolvency resolution process under the provisions of the Insolvency and Bankruptcy Code, 2016, will be held on Saturday, September 25, 2021 at 11.30 A.M. (IST) through Video Conference (VC) / Other Audio Visual Means (OAVM) to transact the business as herein contained;
Background:
Pursuant to an application filed by Ericsson India Pvt. Ltd before the Hon'ble National Company Law Tribunal, Mumbai Bench ("NCLT") in terms of Section 9 of the Insolvency and Bankruptcy Code, 2016 read with the rules and regulations framed thereunder ("Code"), the NCLT had admitted the application and ordered the commencement of corporate insolvency resolution process ("CIR process" or "CIRP") of the Company vide its order dated May 15, 2018 ("Admission Order"). The Hon'ble NCLT had, pursuant to the Admission Order, appointed an interim resolution professional for the Company ("IRP") vide its order dated May 18, 2018. In terms of the Admission Order, inter alia, the management of the affairs of the Company was vested in the IRP.
Subsequently, the Hon'ble National Company Law Appellate Tribunal ("NCLAT"), while adjudicating upon an appeal preferred against the Admission Order, vide its order dated May 30, 2018, inter alia, stayed the Admission Order and allowed the management of the Company to function ("Stay Order"). On April 30, 2019, the NCLAT, upon allowing the withdrawal of the aforesaid appeal, vacated all interim orders including the Stay Order. The NCLT, vide order May 7, 2019, directed the IRP to proceed in the CIRP of the Company. Upon vacation of the Stay Order and the aforesaid order of the NCLT, the CIR Process of the Company re-commenced.
Thereafter, the committee of creditors of the Company resolved with the requisite voting share, to replace the IRP with Mr. Anish Niranjan Nanavaty, as the resolution professional for the Company ("RP" or "Resolution Professional"). Subsequently, the Hon'ble NCLT has appointed Mr. Anish Niranjan Nanavaty as the RP for the Company vide its order dated June 21, 2019, which was published on June 28, 2019. Accordingly, the management of the Company vests in the RP during the continuance of the CIR process period of the Company.
In accordance with the provisions of the Code, various resolution plans in respect of the Company were received by the RP. The committee of creditors of the Company ("COC"), in their meeting held on March 02, 2020, has approved the resolution plan submitted by UV Asset Reconstruction Company Limited ("Resolution Plan") which was subsequently submitted to the Hon'ble NCLT on March 6, 2020 in accordance with Section 30(6) of the Code. The same continues to remain sub-judice with the Hon'ble NCLT.
In view hereof, this Annual General Meeting is being called and convened.
Ordinary Business:
1. To consider and adopt:
- the audited financial statements of the Company for the financial year ended March 31, 2021 and the reports of the Directors and Auditors thereon, and
- the audited consolidated financial statements of the Company for the financial year ended March 31, 2021 and the report of the Auditors thereon.
-
To appoint Shri Vishwanath Devaraja Rao (DIN: 08607657), who retires by rotation as a Director and in this regard, to consider and if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution:
"RESOLVED THAT in accordance with the provisions of Section 152 and other applicable provisions of the Companies Act, 2013, Shri Vishwanath Devaraja Rao (DIN: 08607657), who retires by rotation at this meeting, be and is hereby appointed as a Director of the Company."
(His appointment is a part of compliance with section 152(6) of the Companies Act, 2013. However, the powers of the Board shall continue to remain suspended during the continuance of CIR Process. The tenure of directors will be subject to the terms of the Resolution Plan as may be approved by the NCLT in terms of Section 31 of the Code). - To appoint Statutory Auditors of the Company and fix their remuneration and in this regard, to consider and, if thought fit, to pass the following resolution as an Ordinary Resolution:
"RESOLVED THAT pursuant to the provisions of Sections 139, 142 and other applicable provisions, if any, of the Companies Act, 2013 (hereinafter referred to as "the Act") and the relevant rules made there under (including any statutory modification(s) or re-enactment(s) thereof for the time being in force), based on the recommendation of the Audit Committee and the Directors of the Company, the re-appointment of M/s. Pathak H.D. & Associates, LLP, Chartered Accountants (Firm Registration no. 107783W/ W100593), whose term of tenure has been completed at this Annual General Meeting and who have confirmed their eligibility for the re-appointment pursuant to Section 139 and 141 of the Act, as Statutory Auditors of the Company, be and is hereby approved, for a term of five consecutive years, to hold office from the conclusion of this Annual General Meeting till the conclusion of the Twenty Second Annual General Meeting, at such remuneration as shall be fixed by the Resolution Professional of the Company on the recommendation of the Directors of the Company.
RESOLVED FURTHER THAT the Resolution Professional of the Company or any other persons exercising the powers of the Board of Directors in terms of the Resolution Plan approved by the NCLT, directly or through any person authorized in this behalf be and are hereby authorised to do all acts, deeds and things and take all such steps as may be necessary, proper or expedient to give effect to this resolution."
Special Business:
4. Ratification of Remuneration payable to Cost Auditor
To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution:
4
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Reliance Communications Limited published this content on 04 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 September 2021 23:21:02 UTC.