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RCom Spectrum case: Supreme court dismisses DoT plea against TDSAT order
Posted on 3rd July 2019
The Supreme Court on Tuesday dismissed the Department of Telecommunications’ appeal against a Telecom Dispute Settlement Appellate Tribunal (TDSAT) order that held that liabilities of past dues related to spectrum usage charges (SUC) rested only with Reliance Communications (the seller) and not the buyer of its 800 MHz spectrum, which then was Reliance Jio Infocomm.

Chinese lenders demand at least $2.1 billion from Anil Ambani's RCom
Posted on 18th June 2019
Chinese lenders, including China Development Bank, Industrial and Commercial Bank of China and Exim Bank of China, have demanded at least $2.1 billion from Anil Ambani’s Reliance Communications, that slid into bankruptcy earlier this year.

State-owned China Development Bank, with loans worth Rs 9,860 crore ($1.4 billion) was the biggest creditor to the indebted telecom company, according to a filing made by the company to stock exchanges.

RCom to Jet: Here are 10 worst-performing stocks of 2019. Do you own any?
Posted on 13th June 2019
At a time when the frontline benchmark index on the BSE, the S&P BSE Sensex, breached the 40,000 mark, nearly 275 stocks that comprise the BSE 500 index have given a negative return thus far in calendar year 2019 (CY19).

A ‘hope rally’ that the Narendra Modi – led National Democratic Alliance (NDA) would secure a second consecutive term continued post the outcome of the general election as well.

RCom lenders claims Rs 49,193 crore dues
Posted on 1st June 2019
Financial creditors of Reliance Communications have submitted claims of over Rs 49,193 crore, which showed that China Development Bank, LIC and SBI have the highest exposure in the dues.

According to the list, Interim Resolution Professional (IRP) Pardeep Kumar Sethi has admitted claims of Rs 47,038.79 crore and the remaining amount has been put for verification.

Ericsson considering new clauses to avoid RCom like situations
Posted on 30th May 2019
Swedish telecom gear maker Ericsson is considering tweaking provisions in business deals to avoid situations like those it is facing with Reliance Communications. The company sued RCom and its promoter Anil Ambani to recover dues of about Rs 1,500 crore, of which it managed to receive only Rs 550 crore. “We think fairness sort of came true in the end. But of course, as we sell new deals…we try to avoid those things. But it is hard to tell because who could have seen that coming.

Bankruptcy blues for Reliance Communications
Posted on 8th May 2019
The lenders to Reliance Communications (R-Com) on Tuesday moved the National Company Law Tribunal (NCLT) seeking to appoint a new resolution professional and form a committee of creditors, the first step to start the bankruptcy process against the Anil Ambani group company that owes close to Rs 50,000 crore to 31 lenders, led by the State Bank of India.

RCom heads for insolvency
Posted on 1st May 2019
The National Company Law Appellate Tribunal (NCLAT) on Tuesday allowed insolvency proceedings against Reliance Communication (RCom) after the debt-laden firm withdrew its petition challenging a decision of National Company Law Tribunal (NCLT) to initiate such proceedings.

Vodafone Idea, Reliance Communications hit new lows
Posted on 3rd April 2019
Shares of telecom services provider Vodafone Idea and Reliance Communications (RCom) have hit their respective new lows on the BSE in an otherwise strong market. At 11:03 am, the S&P BSE Sensex was up 0.44 per cent or 171 points at 39,228.

Vodafone Idea hit a new low of Rs 16.40, down 3 per cent, on the BSE on Wednesday, falling 10 per cent in past three trading days, after the stock turned ex-date for rights issue on March 29.

NCLAT stays DoT show cause notices to RCom for cancellation of spectrum licence
Posted on 27th March 2019
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed two notices issued by the department of telecommunications (DoT) to debt-ridden Reliance Communications for cancellation of its spectrum licence for delay in payment.

A bench headed by chairman Justice SJ Mukhopadhaya also stayed DoT’s March 20 letter to Axis Bank to encash the bank guarantee of Rs 2,000 crore given by RCom.

Ericsson case: Supreme Court to hear RCom plea on Wednesday
Posted on 27th March 2019
The Supreme Court will hear on Thursday Reliance Communications’ plea seeking permission to withdraw its appeal against initiation of insolvency proceedings by Ericsson India last year. A Bench led by Justice RF Nariman will also hear on Thursday another application by Ericsson which also wants to end the insolvency proceedings it had initiated against RCom and its two group firms – Reliance Infratel and Reliance Telecom – last year as the beleaguered telecom company had paid Rs 550 crore to Ericsson as per the apex court’s orders.

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