Reliance Communications will opt for insolvency proceedings as it failed to sell assets to pay for its debt, the Anil Ambani-led telecom company said Friday. “RCom board of directors decides upon implementation of debt resolution plans through NCLT framework,” the company said in a statement. The Board of Directors of … Read More
The Supreme Court on Monday sought the response from Reliance Communications (RCom) Chairman Anil Ambani on a contempt plea by telecom company Ericsson for its failure to pay outstanding dues of about Rs 550 crore. The top court bench of Justice Rohinton Fali Nariman and Justice Vineet Saran sought response … Read More
Debt-laden Reliance Communications on Sunday accused Swedish telecom gear maker Ericsson, which is an operational unsecured creditor of the company, of attempting media trial and sensationalising the issue of dues recovery, saying it might put the interest of even secured lenders at risk. The Anil Ambani-led telecom firm, however, said it … Read More
Ambani brothers led telecom firms are learnt to have approached jointly telecom ministry seeking clarification on the stand of the government over their spectrum trading deal, industry sources said Friday. “Reliance Jio and Reliance Communications have jointly written to the Department of Telecom seeking clarification on its stand over spectrum … Read More
Reliance Communications and Reliance Jio announced Monday that they have extended the terms of an agreement for sale of wireless assets of the Anil Ambani owned firm. The move comes at a time when Reliance Communication’s spectrum sale deal has been hanging fire, pending requisite clearance from the telecom department. … Read More
With the Department of Telecommunications not approving the Reliance Communications and Reliance Jio deal, the spectrum trading contract fell through. After this affair, it seems that RCom is not the only telecom operator to suffer the blow of this setback. As per an ET Telecom report, analysts and experts have … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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 … Read More
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