The CBI has launched an initial probe over the loan against both companies, a spokeswoman for the agency said on Saturday.
Piramal, controlled by billionaire Ajay Piramal, and APG will invest in local infrastructure companies through rupee-denominated mezzanine instruments.
If completed, the move would create a 50-50 joint venture valuing Reliance Communications' cable assets at $1 billion.
If completed, the 50-50 joint venture would value Reliance Communications' cable assets at $1 billion, the newspaper said, adding Citic Telecom beat out two other bidders from West Asia earlier this month.
The Federation of Indian Airlines had challenged the aviation regulator's decision this week to issue an operating permit to AirAsia India.
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
The directives will apply to both passenger and cargo planes, the Directorate General of Civil Aviation said in a statement on Wednesday.
The court on Tuesday ordered BSES -- part of billionaire Anil Ambani's Reliance Infrastructure Ltd to pay state-run NTPC the Rs 700 crore (Rs 7 billion) it is owed by May 31.
Mumbai-based Reliance Communications increased voice call prices by about a fifth late last month and also increased the base tariff for voice calls.
Two individuals filed the petition in the high court of Andhra Pradesh
The company has similar pact with Bharti Infratel.
India does not have a formal bankruptcy process. Liquidation pleas could take years before a final verdict.
The Delhi Electricity Regulatory Commission said the surcharge was for a period of three months from February 1 or until any further order.
Bharti Airtel, nearly a third owned by Southeast Asia's top phone carrier SingTel, said it was helped by lower competition and an increase in voice call prices.
Telecommunication companies buying airwaves in an Indian auction next month will pay 5 per cent of their revenue as an annual fee.
Ajit Singh says will seek cabinet nod to scrap 5-year, 20 aircraft rule.
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
The telecommunications regulator had recommended last month that the reserve price for spectrum in the 900 megahertz band in some key cities be cut by about 60 percent, and also suggested a 37 percent cut in the reserve price for spectrum in the 1800 megahertz band.
Jet Airways in which Abu Dhabi's Etihad is buying a stake, reported its worst quarterly loss on record as carriers in Asia's third-biggest economy battle high fuel costs and taxes.
The telecommunications regulator had recommended last month that the reserve price for spectrum in the 900 megahertz band in some key cities be cut by about 60 percent, and also suggested a 37 percent cut in the reserve price for spectrum in the 1800 megahertz band.
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