RCom Debt

July 23rd, 2018 12:23 PM 2 COMMENTS

RCom Risks Losing License If Bank Guarantees are Not Furnished: DoT

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 Reliance Communications had stopped its operations entirely in December 2017 and now seeks to pare its debt of Rs 46,000... Read More

November 28th, 2017 10:38 AM 4 COMMENTS

Problems Mount Up for RCom, China Development Bank Files Insolvency Case to Recover Around Rs 9000 Crore

China Development Bank (CDB), a lender to Reliance Communications (RCom), has filed an insolvency case against the ailing telecom service provider, following a similar case filed by Swedish telecom gear maker Ericsson. RCom owes about Rs 7,500 crore to China Development Bank, but the amount has increased to Rs 9000 crore due to interest. The bank has become the first lender to file insolvency proceedings against the debt-ridden telco, which... Read More

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