Reliance

December 20th, 2018 8:55 PM 12 COMMENTS

RCom Asks DoT to Approve its Spectrum Deal With Jio to Comply With Supreme Court Order

With its spectrum deal virtually in a limbo, Reliance Communications on Thursday urged the telecom department to grant it the "long-awaited no-objection certificate" to comply with the Supreme Court order in "letter and spirit". The statement came a day after senior officials of Reliance Communications and Reliance Jio met the Telecom Secretary to discuss outstanding issues raised by the Department of Telecom (DoT) over payment related to the spectrum sale... Read More

December 19th, 2018 3:20 PM 56 COMMENTS

DoT Rejects Reliance Jio and RCom Spectrum Trading Deal

In a new shocking turn of events, the Department of Telecommunications (DoT) has informed Reliance Communications and Reliance Jio Infocomm that it would not be able to clear their spectrum trading deal. This move is a new blow to the Anil Ambani led telecom operator, which stands under massive debt and has to repay its lenders at the shortest. As per an ET Telecom report, Reliance Jio earlier sent a... Read More

December 14th, 2018 5:40 PM 25 COMMENTS

DoT to Clear Reliance Communications Spectrum Sale Deal to Reliance Jio by Monday

After a long legal struggle with the Anil Ambani led telecom operator, Reliance Communications, the Department of Telecommunications (DoT) has informed the Supreme Court that it will be granting clearance to the spectrum sale deal of RCom to Reliance Jio. This move comes as a big relief to the financially stricken telco as now it will be able to receive payment from Reliance Jio, which will be used to pare... Read More

December 11th, 2018 6:53 PM 9 COMMENTS

RCom and DoT Go Hard on Legal Battle, Telco Files Contempt of Court Plea Against Department

Anil Ambani led telecom operator, Reliance Communications (RCom) has filed a contempt of court plea against the Department of Telecommunications (DoT) for not clearing its spectrum sale deal to Reliance Jio in the stipulated period. To recall, DoT had agreed to grant clearance to RCom for selling its assets to the Mukesh Ambani led telco to obtain cash for paring its debt. However, this recent plea in the Supreme Court... Read More

December 3rd, 2018 3:48 PM 16 COMMENTS

RCom Furnishes Corporate Guarantee of Rs 1,400 Crore to DoT, Inches Towards the Spectrum Sale to Jio

Reliance Communications today said its subsidiary Reliance Realty has furnished the corporate guarantee of Rs 1,400 crore to Telecom Department as directed by the Supreme Court, stepping closer towards concluding its spectrum sale to Reliance Jio. The Supreme Court on November 30, had asked the Department of Telecom (DoT) to give a no-objection certificate (NoC) to Reliance Communications to sell its spectrum to Reliance Jio, provided a corporate guarantee of... Read More

November 30th, 2018 5:33 PM 29 COMMENTS

SC Passes Order in Favour of RCom, Directs DoT to Approve Spectrum Trade With Reliance Jio

Previously, the long legal battle between RCom and Department of Telecommunications (DoT) was ongoing because DoT was adamant on Reliance Communications providing bank guarantees worth Rs 3,000 crore before giving the green flag for Reliance Jio and RCom sale of spectrum. However, as per the latest update, Supreme Court has given a sigh of relief for the Anil Ambani led telco, as this deal would finally help the telco in... Read More

November 27th, 2018 2:38 PM 11 COMMENTS

RCom and Jio Spectrum Trading Deal in Jeopardy as DoT Refuses to Accept Land Parcel as Security

Reliance Communications (RCom) has remarked that its deal of spectrum trade with Reliance Jio Infocomm will land in jeopardy if the Department of Telecommunications (DoT) does not accept a land parcel instead of bank guarantees as security. DoT, however, is adamant on only receiving bank guarantees worth of Rs 3,000 crore from the telco and has also stated that Reliance Jio can furnish these guarantees on behalf of RCom. This... Read More

October 31st, 2018 7:00 PM 0 COMMENTS

RCom Ties Up With PacketFabric to Facilitate 100G Trans-Atlantic Service from New York to London

Reliance Communications (RCom)-promoted Global Cloud Xchange (GSX) on Wednesday announced that it has tied up with PacketFabric to provide 100G trans-Atlantic service from New York to London through the FA-1 North submarine cable system. GCX's FA-1 North submarine cable system connects the US, the UK and France. "It has interconnected with PacketFabric to provide 100G trans-Atlantic service from New York to London via the FA-1 North submarine cable system," said... Read More

October 29th, 2018 7:35 PM 1 COMMENTS

Telecom Department to Challenge TDSAT for Allowing RCom to Sell Spectrum Without Bank Guarantee

The telecom department will challenge the telecom tribunal TDSAT's order allowing Reliance Communications to sell spectrum to Reliance Jio without providing the bank guarantee. "The licence conditions do not provide for accepting any barter system. DoT will challenge TDSAT order that directs it to allow RCom sell spectrum with the land as security," a senior DoT official told PTI. The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) in its order... Read More

October 3rd, 2018 6:19 PM 1 COMMENTS

RCom Can Proceed With the Planned Spectrum Sale to Jio After Relief from TDSAT

Reliance Communications (RCom), which yesterday stated that there would be a delay in repayment of Rs 550 crore to Ericsson, today confirmed that it has got relief from the telecom tribunal TDSAT. With this relief, RCom can now complete its planned spectrum sale to Jio and the amount which it will receive from the latter will be used to make payments to Ericsson India and RITL minority investors. RCom confirmed... Read More

October 2nd, 2018 9:35 PM 0 COMMENTS

RCom Seeks Another 60 Days for Repayment of Rs 550 Crore to Ericsson Citing Delay in Spectrum Sale

Reliance Communications (RCom), today stated that it requires another 60 days for the repayment of Rs 550 crore to telecom gear maker Ericsson. The Anil Ambani-led company cited the delay in spectrum sale caused the delay in repayment. RCom said that the spectrum sale could not be completed on time due to 'factors beyond its control.' In a statement at BSE, RCom said as "Ericsson India Private Limited ( Ericsson'),... Read More

September 26th, 2018 5:15 PM 2 COMMENTS

RCom Looking to Sell Subsea Cables and International Data Centres

Reliance Communications (RCom), which already exited the Indian telecom sector is now looking to sell its remaining businesses. RCom is now looking to sell off its enterprise focused-businesses- subsea cables, international fixed line and data centres businesses. Earlier, RCom exited the wireless businesses due to financial pressures and the company also sold its spectrum to Reliance Jio. Two buyers, including a consortium of four funds, have evinced interest in buying... Read More

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