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Anil Ambani's Reliance Communications Enters Bankruptcy Again

Former billionaire Anil Ambani's Reliance Communications Ltd will fall back into bankruptcy as the court allowed the company's request to attempt to sell assets. The National Company Law Appellate Tribunal allowed RCom to withdraw its appeal against insolvency proceedings initiated last year & lifted interim orders that temporarily halted the bankruptcy case. Mukesh Ambani earlier offered to purchase RCom's assets.