The Supreme Court dismissed review petitions filed by Reliance Communications and its subsidiary, Reliance Telecom Limited, on July 28, 2026. The apex court held that no error apparent in the February 13, 2026 judgment warranted a review under Order XLVII Rule 1 of the Supreme Court Rules, 2013.

This legal development directly impacts the corporate insolvency resolution process for both entities. The resolution plans for Reliance Communications and Reliance Telecom Limited provide for the sale of the right to use spectrum as key assets. The application for the approval of these resolution plans remains sub-judice before the National Company Law Tribunal (NCLT), Mumbai Bench.

Legal Proceedings

The dismissed petitions were Review Petition (Diary) No. 15076 of 2026 in Civil Appeal No. 4570 of 2021 concerning the parent company, and Review Petition (Diary) No. 15984 of 2026 in Civil Appeal No. 4571 of 2021 concerning the subsidiary. The court rejected applications seeking oral hearing of these petitions in open court.

Reliance Communications has been under the corporate insolvency resolution process pursuant to the Insolvency and Bankruptcy Code, 2016. Since June 28, 2019, the affairs, business, and assets of the company have been managed by Resolution Professional Mr. Anish Niranjan Nanavaty, appointed by the NCLT, Mumbai Bench.

What the Numbers Show

The dismissal of the review petitions finalizes the legal stance taken in the February 2026 judgment, removing a potential procedural delay in the insolvency resolution timeline. With no specific violation or contravention stated against either entity in this order, the focus remains on the NCLT's pending approval of the spectrum sale component of the resolution plans.

Reliance Communications has received an order from the Adjudicating Authority under the Prevention of Money Laundering Act (PMLA) confirming the attachment of its assets worth ₹581.65 crore. The order, dated August 25, 2026, formalises a provisional attachment initiated in March 2026 by the Enforcement Directorate (ED).

Order details

The Adjudicating Authority confirmed the attachment of movable and immovable properties under Section 5(1) of the PMLA in Original Complaint No. 263/2026. The authority ruled that the attached properties represent the equivalent value of proceeds of crime that had been dissipated.

Basis for attachment

The ED alleged that Reliance Commercial Finance Limited (RCFL) diverted funds amounting to ₹1,182 crore to Reliance Communications and Reliance Telecom Limited through five non-banking financial companies (NBFCs). The investigation established that ₹1,162.53 crore of these funds were utilised by Reliance Communications towards repayment of principal amounts for External Commercial Borrowings (ECBs) availed from Chinese banks, including China Development Bank, Export-Import Bank of China, and Industrial and Commercial Bank of China.

Because the direct proceeds were used to settle foreign liabilities and thus became untraceable within India, the ED attached other properties held by the company as equivalent value. The attached assets include industrial plots and land parcels located across Goa, Kerala, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh, Haryana, Jharkhand, Maharashtra, West Bengal, Andhra Pradesh, Gujarat, and Rajasthan.

Legal context and insolvency proceedings

Reliance Communications is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The company had argued that the moratorium under Section 14 of the IBC prohibits such attachments. However, the Adjudicating Authority noted that PMLA proceedings are distinct from debt recovery actions and are not barred by the IBC moratorium until a resolution plan is approved by the National Company Law Tribunal (NCLT).

The order states that the attachment will remain in force during the investigation for a period not exceeding 365 days or until the conclusion of proceedings before the Special Court under the PMLA. Reliance Communications may file an appeal before the Appellate Tribunal for PMLA within 45 days of receiving the order.