rcom

February 1st, 2019 8:52 PM 8 COMMENTS

RCom to Opt for Insolvency Proceedings, Spectrum Deal With Jio Likely Cancelled

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 RCom Friday reviewed the progress of the company's debt resolution plans since the invocation of strategic debt resolution on June... Read More

January 8th, 2019 10:22 AM 1 COMMENTS

Supreme Court Seeks Response from RCom on Contempt Plea by Ericsson

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 from Ambani on the contempt plea by Vishal Garg -- the authorised representative of Ericsson India -- who has contended... Read More

January 7th, 2019 12:57 PM 0 COMMENTS

RCom Accuses Ericsson of Attempting Media Trial and Sensationalising Dues Recovery Issue

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 remains committed to clear dues of Ericsson from spectrum realisation. However, the approval for the same is pending with the... Read More

January 4th, 2019 10:02 PM 2 COMMENTS

RCom and Jio Approach DoT Seeking Clarification on Spectrum Trading Deal

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 trading deal between the two companies," an industry source told PTI. Another source said Mukesh Ambani-led Reliance Jio has reiterated... Read More

December 31st, 2018 3:17 PM 1 COMMENTS

RCom and Jio Extend the Terms of Agreement for Spectrum Sale

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. "Reliance Jio Infocomm Limited, a subsidiary of Reliance Industries Limited, extended the term of the definitive agreement for the acquisition... Read More

December 24th, 2018 11:58 AM 0 COMMENTS

Reliance Jio 4G LTE Network Might Suffer After RCom Spectrum Trading Deal Fallout: Experts

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 said that Reliance Jio’s services will experience disruption if the Mukesh Ambani-led telco does not acquire the spectrum from Reliance... Read More

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 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

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

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