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RCom-RJio deal: Arun Jaitley’s IBC clause stands between Ambani brothers if RCom goes into insolvency
Posted on 21st May 2018
Anil Ambani’s Reliance Communications share price skyrocketed 65% on last Thursday on media reports that the company was mulling out-of-court settlement with Swedish communications firm Ericsson. But RCom stock pared the gains on Friday when a Reuters report said that the settlement deal looked unlikely. Subsequently, RCom shares tumbled 9.37% intraday to Rs 15.

Insolvency: RCom, Ericsson India likely to settle dispute outside NCLT
Posted on 18th May 2018
Even as the National Company Law Tribunal (NCLT) has admitted the petition for insolvency, Reliance Communications (RCom) is in talks with Ericsson India for a settlement of the dispute to pay Rs 11.5 billion to the latter, said sources.

RCom in its reply to queries from the stock exchanges on the possible settlement with Ericsson said, “Appropriate disclosures will be made in accordance with applicable regulations, as and when any disclosable event occurs.”

Insolvency call hits R-Com
Posted on 17th May 2018
New Delhi: Shares of Reliance Communications (R-Com) plunged nearly 16 per cent a day after the NCLT admitted an insolvency petition filed by Ericsson against the company and two of its subsidiaries.

The stock fell sharply by 15.26 per cent to end at Rs 10.55 on the BSE. Intra-day, it dropped 20 per cent to Rs 9.95.

ADAG shares hit 52-week lows; RCom falls 14%
Posted on 16th May 2018
Shares of Anil Dhirubhai Ambani Group (ADAG) companies were trading lower for the second straight day with Reliance Communications (RCom) falling 14% in intra-day trade on Wednesday after bankruptcy court admits Ericsson's plea against the company.

RCom appeal against Gujarat move to levy property tax dismissed
Posted on 27th April 2018
The Supreme Court has dismissed the appeal of Reliance Communication, challenging the Gujarat government’s demand notices seeking to levy Rs 13-crore property tax on cell towers and telecom equipment installed on rooftops and building terraces in the state. A bench led by Justice Ranjan Gogoi, while dismissing the appeal, said, “If a competent court has passed the order, you (RCom) can not drag on for a year.”

RCom gets a week to pay Rs 774.19 cr towards deferred spectrum liabilities
Posted on 26th April 2018
The Supreme Court on Wednesday gave Reliance Communications one week to pay Rs 774.19 crore towards deferred spectrum liabilities.

A bench led by Justice AK Goel gave RCom time till May 2 to pay its liability while disposing of the telecom firm’s two appeals challenging the TDSAT’s April 19 judgments that had refused to grant additional time to make the payment.

Lenders come to Anil Ambani's rescue, to pay RCom's Rs 774 cr spectrum dues to DoT
Posted on 24th April 2018
MUMBAI: Lenders led by State Bank of India (SBI) on Monday agreed to pay Rs 774 crore of deferred spectrum charges for Reliance Communications (RCom) to prevent further litigation in the Anil Ambani-owned company’s debt takeover by Reliance Jio, said two people close to the developments.

NCLAT recalls order that allowed sale of RCom's tower and fiber assets
Posted on 18th April 2018

The National Company Law Appellate Tribunal (NCLAT) on Wednesday recalled its previous order which allowed debt-ridden Reliance Communications to proceed with the sale of its tower and fibre assets.

The sale of these businesses form an important part of the overall Rs 250 billion asset monetisation blueprint of the troubled company.

Supreme Court stays NCLAT order on partial sale of RCom assets to Reliance Jio
Posted on 17th April 2018
New Delhi: The Supreme Court on Monday stayed a National Company Law Appellate Tribunal (NCLAT) order that had allowed for partial sale of assets of Reliance Communications Ltd (RCom) to Reliance Jio Infocomm until the tribunal decides on the case.

The top court order effectively halts the RCom-Jio deal worth Rs25,000 crore to the extent of sale of tower and fibre assets.

HSBC Daisy moves SC against NCLAT nod for Rcom asset sale to Reliance Jio
Posted on 10th April 2018
New Delhi: HSBC Daisy Investments (Mauritius) Ltd moved the Supreme Court (SC) on Monday, challenging an order of the National Company Law Appellate Tribunal (NCLAT) that cleared the execution of the Rs25,000 crore sale of Reliance Communications (RCom) assets to Reliance Jio Infocomm (RJio).

The matter was mentioned before a bench comprising Justices Adarsh Kumar Goel and Rohinton F. Nariman. The case will be heard on 19 April.

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