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Reliance Communications (RCOM) Related news
RCom settles case with Sebi over non-compliance with listing norms
Posted on 10th November 2018
Debt-laden Reliance Communications has settled a case with markets regulator Sebi over non-compliance with listing norms, including alleged failure to promptly inform about interest payment default on debentures, according to an order.

The company, part of the Anil Ambani group, also settled the issue of non-cooperation with the credit rating agencies and debenture trustee that were in violation of listing norms.

DoT to challenge TDSAT order letting RCom spectrum sale sans bank guarantee
Posted on 29th October 2018
The telecom department will challenge the telecom tribunal TDSAT's order allowing Reliance Communications to sell spectrum to Reliance Jio without providing the bank guarantee.

"The licence conditions do not provide for accepting any barter system. DoT will challenge TDSAT order that directs it to allow RCom sell spectrum with land as security," a senior DoT official told PTI.

Supreme Court grants RCom time till December 15 to pay Ericsson dues
Posted on 24th October 2018
The Supreme Court on Tuesday asked Reliance Communication Ltd to clear the dues of Rs 550 crore to telecom equipment maker Ericsson India by December 15, saying that delayed payment would attract an interest of 12 per cent per annum.

A bench headed by Justice R F Nariman said that it was the last opportunity given to RCom for clearing the settlement amount.

RCom gets TDSAT relief, can go ahead with spectrum deal sans bank guarantee
Posted on 4th October 2018
Reliance Communications (RCom) said the Telecom Disputes Settlement Appellate Tribunal (TDSAT) had allowed it to complete its spectrum sale deal without having to pay a bank guarantee of Rs 29 billion. The guarantee had been demanded by the department of telecommunications (DoT).

The Anil Ambani-owned company said it would get Rs 9.75 billion from sale of spectrum, of which it was to give Rs5.5 billion to Ericsson.

RCom’s leftover businesses draw interest of two buyers
Posted on 27th September 2018
Two buyers, including a consortium of four funds, have evinced interest in buying or taking a controlling stake in the leftover businesses of Anil Ambani group’s embattled telecom arm, Reliance Communications (RCom), a top company official said on Wednesday.

The company, which exited the flagship wireless businesses due to financial pressures and is also selling its spectrum, is looking to sell off the enterprise-focused offerings including subsea cables, international fixed line and data centres businesses.

RCom to monetise enterprise, global undersea cable businesses: Anil Ambani
Posted on 18th September 2018
NEW DELHI: Reliance Communications’ (RCom) Chairman Anil Ambani said that the debt saddled operator has complete backing of its global and Indian lenders in its asset monetisation plan and will monetise its enterprise and GCX businesses.

The operator’ asset monetisation deal is with Reliance Jio for fibre, spectrum, MCN, tower and some of its land parcels will go to Canadian asset management firm Brookfield for a total of about Rs 18,000 crore.

RCom requests DoT to quickly reply to tribunal on SUC issue
Posted on 6th September 2018
NEW DELHI: Reliance Communications (RCom) is pushing the department of telecommunications (DoT) to expedite its response to the telecom tribunal on the Spectrum Usage Charge (SUC) demand the financially stressed telco has disputed, people familiar with the matter said.

Reliance Communications moves TDSAT against DoT demand
Posted on 29th August 2018
Reliance Communications (RCom) has moved the telecom tribunal against the telecom department’s demand for spectrum usage charges (SUC) of about Rs 3,000 crore, a move which could be the start of a lengthy legal battle that could further delay the company’s spectrum sale to Reliance Jio Infocomm and repayment to lenders.

R-Com sells optical fibre assets to Jio
Posted on 28th August 2018
Mumbai: Anil Ambani-led Reliance Communications (R-Com) on Monday said it had completed the planned sale of its optical fibre assets worth Rs 3,000 crore to Mukesh Ambani-backed Reliance Jio Infocomm (R-Jio).

The announcement marks the wrapping-up of yet another portion of a larger deal inked between R-Com and Reliance Jio in December last year that involved the sale of wireless spectrum, tower, fibre and media convergence nodes.

Reliance Communications completes sale of fibre assets to Reliance Jio for Rs 3,000 crore
Posted on 27th August 2018
Reliance Communications (RJIO) today said it has completed the sale of its fibre assets and related infrastructure assets, worth Rs 3,000 crore, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).

“With successful completion of the fibre monetisation transaction, 1,78,000 kilometers fibre stand transferred to RJIO,” Reliance Communications said in a BSE filing.

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