The Department of Telecommunications has asked Anil Ambani-led company Reliance Communications (RCom) to furnish bank guarantees worth Rs 774 crores towards spectrum dues pending next year. The DoT has explicitly said that if the telco fails to do so, then it will risk losing its licenses. It is noteworthy that … Read More
Reliance Communications has alleged the Department of Telecommunications of unfair and discriminatory practices. The Anil Ambani led telco said that demands for bank guarantees were sought from the telco for the 850Mhz spectrum. However, the same wasn’t done for Vodafone India, another telecom company which is currently under the merger … Read More
After the debt-ridden telecom giants, Aircel and Reliance Communications (RCom) hit the wall of poor financials, distributors of these telcos have alleged that they have not been paid appropriately and the payment that they have received is a fraction of what the original dues are. The Anil Ambani led telco … Read More
Reliance Communications (RCom), in a new move, has handed over 70 units of unliberalised or non-auctioned spectrum in the 1800 Mhz band to the Department of Telecommunications (DoT). RCom moved over to this option when the company could not find any buyers for the spectrum and the Anil Ambani led … Read More
Reliance Communications, the Anil Ambani led telco which was on the verge of bankruptcy a few days ago has declared that it is in a financial soup and is surrounded by capex troubles, hyper-competition and endless problems as a result of which, it has brought down the count of its … Read More
Reliance Communications has reported that its losses grew to a whopping figure of Rs 19,827 crore compared to the Rs 1,112 crore which was the losses in the January-March quarter of the year 2017. According to the information available, the losses grew significantly because of the one-time fee which Reliance … Read More
Anil Ambani-led telco Reliance Communications has offered an upfront payment of Rs 500 crore to the Swedish manufacturer, Ericsson which filed a petition in the NCLT against RCom pushing the telco towards insolvency. During the hearing of the National Company Law Appellate Tribunal, which happened yesterday, Kapil Sibal, who stood … Read More
Reliance Communications will tomorrow stand in the hearing on its plea against the NCLT’s order which pushed the telco towards insolvency after the Swedish manufacturer Ericsson filed a petition in the Tribunal. Today the telco was mentioned in the National Company Appellate Tribunal (NCLAT) seeking an urgent hearing on the … Read More
Reliance Communications (RCom) and Ericsson have hit a new wall in their ongoing negotiations for the recovery of pending dues by the telco. This new hurdle which both the parties are facing has come up because of disagreement regarding the payment timeline. While RCom proposed a period of six months … Read More
In a new turn of events, RCom along with its subsidiaries Reliance Infratel and Reliance Telecom has gone ahead to the appellate tribunal to halt the order which was passed by the NCLT, declaring that RCom should now proceed along the laws of insolvency and bankruptcy post admitting Ericsson’s petition. This … Read More
After RCom and Ericsson moved towards a legal spat over Ericsson’s petition in the NCLT for settling the dues which Reliance Communications owed to the Swedish manufacturer, things were looking ugly for both the parties. However, in a recent twist of events people aware of the matter informed that RCom … Read More
The Swedish telecom equipment maker Ericsson filed a petition in National Company Law Tribunal which could cause the Insolvency authorities to scrape Rs 18,000 crore worth of debt by selling Reliance Communication’s assets to Reliance Jio Infocomm. Three petitions were accepted by the NCLT against the Anil Ambani-led telco on … Read More
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