The RP sought the exclusion from April 30, 2018 to May 30, 2019 as the initial insolvency proceedings was stayed by the National Company Law Appellate Tribunal (NCLAT) and later by the apex court.
RCom in May last year had filed a petition before the National Company Law Appellate Tribunal (NCLAT) against the NCLT order on a plea by global telecom gear maker Ericsson.
Smaller Cap World Fund Inc also purchased 6,86,545 shares of the diagnostic chain at Rs 957.67 per share.
The source privy to the development told PTI that the country's largest telecom operator Vodafone Idea has made payment of over Rs 6,277.1 crore to the Department of Telecom (DoT) towards its spectrum dues.
The appellate tribunal also issued notice to DoT and directed to list the matter on April 8 along with the main case.
Reliance Communications Enterprises (RCE) held 49.06 crore shares in RCom amounting to 17.74 percent stake, of which it had previously pledged 4.85 percent.
The company in another press release further said the agreement between the company, RTL, RITL (RCOM Group) and Reliance Jio for sale of certain specified telecom assets was terminated by mutual agreement
In February, the Supreme Court had ordered Anil Ambani and two directors of Reliance Communications (RCom)—the company headed by Anil--to pay Ericsson Rs 453 crore within four weeks or face a three-month jail term for contempt of court.
RCom group cited the lack of approval from lenders and regulators as the main reason for termination of the deal.
A source in the know said RCom has paid Rs 458.7 crore to Ericsson as per the SC directive, but did not divulge details.
Earlier, debt-ridden RCom in its plea before the NCLAT said that it wants to voluntarily go back into the insolvency process, as it will help selling its assets in a time bound manner.
The apex court has asked RCom group to pay Rs 453 crore in four weeks, by March 19, failing which Ambani will have to go to jail.
The pledged shares belonged to promoters including that of Ambani, his family members and RCom group entities, according to a BSE filing.
The SBI along with other members of Joint Lenders' Forum (JLF) said that under the RBI guidelines, they have the right over the retention and trust account in which the refunds have been deposited.
According to the bench, the lenders gave a "golden outlook" to NCLAT to recover around Rs 37,000 crore from sale of assets but nothing happened.
The sources aware of the stipulated procedures said that telecom companies are given a grace period of 10 days after the due date by the DoT to make the payment, failing which a further decision is taken on such matters.
RCom said it had received the sum as income tax refunds and is lying in its bank account.
The court said Anil Ambani, the promoter of ADAG companies, wilfully did not pay Rs 550 crore to Ericsson and had a cavalier approach.
Reliance Communications (RCom) had told the court they had tried to move 'heaven and earth' to ensure Ericsson gets its due but was unable to do so due to failure of assets sale deal with Jio.
During the hearing, senior advocate Dushyant Dave, appearing for Ericsson India, said there was wilful disobedience of apex court's orders and contempt action should be initiated against them.
The breadth of the market favoured the declines with 618 stocks advancing and 934 declining while 494 remained unchanged. On the BSE, 628 stocks advanced, 922 declined and 72 remained unchanged.
The stock had clocked an all-time high of Rs 820.80 on January 10, 2008. At that time, the market capitalisation of the stock had touched Rs 1.64 lakh crore
The company that has over Rs 40,000 crore debt said this decision has been taken as their board has been unable to get a 100 percent approval of all 40 lenders on any matter.