NCLAT sets aside plea filed against NCLT order approving sale of Reliance Broadcast Network

The NCLAT on Monday set aside a batch of appeals filed against the NCLT order approving bids of Sapphire Media for Reliance Broadcast Network Ltd. The National Company Law Appellate Tribunal (NCLAT) upheld the order of the Mumbai Bench of the NCLT, which had on May 6, 2024 approved the resolution plan of Sapphire Media for Reliance Broadcast that operated FM radio business under the brand name of Big 92.7 FM.