Market sources said that RCom has made an initial commitment to invest between Rs 25-30 crore.
In his letter dated October 11, written before the last EGoM meeting, Ambani has said the government would incur a loss of at least Rs 35,000 crore if the EGoM had decided to charge for excess spectrum beyond 6.2 MHz only prospectively from 2012, and not from 2008.
The empowered group of ministers (EGoM) on telecom headed by Finance Minister P Chidambaram on Monday decided to impose a one-time fee on incumbent operators prospectively for spectrum beyond 4.4 MHz in GSM and 2.5 MHz in CDMA.
In an interview with Shivam Vij in their IRC chat room, members of Anonymous India explain why they are doing what they are doing.
The staggering Rs 35,000-crore (Rs 350-billion) debt of RCom makes it the most indebted telco in the country, and constitutes nearly 10 per cent of the industry's debt of Rs 3.5 trillion.
With these repayments, RCom has now fully liquidated the borrowings from 23 foreign banks and financial institutions
"A global settlement was reached between the French tax authorities and Reliance Flag, a telecom company, in a tax dispute pertaining to the period 2008-2012," the French embassy said in a statement.
Reliance Communications has announced an Employee Stock Options Scheme (ESOPs) that will cover over 20,000 employees, including its subsidiaries. The company's ESOPs committee has approved the grant of 17.5 million options to the eligible employees based on a specified criterion.
Telecom services provider Reliance Communications (RCom), in a consortium led by IT firm HCL Infosystems, is believed to have bagged the Rs 300 crore (Rs 3 billion) contract for government's national identity card programme, Aadhaar.
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
RCom's employee cost declined by 20.7 per cent.
Typically these are high-beta stocks and earnings are volatile
The biggest losers on the National Stock Exchange's benchmark Nifty 50 index are stocks that have seen the highest turnover over the past 12 months, according a report by Morgan Stanley.
The company had posted net profit of Rs 156 crore a year ago.
In a bonanza for its shareholders, billionaire Anil Ambani-led Reliance Communications on Sunday announced it is hiving off its entire real estate assets, estimated to be of around Rs 12,000 crore (Rs 120 billion), into a separate listed company.
England captain Andrew Strauss and his team were presented the ICC Test Mace by Haroon Lorgat, the ICC Chief Executive and Rod Riley, Executive Senior Vice-President - Reliance Communications, after England completed a 4-0 series victory over India in the fourth Test at The Oval and confirmed their position as the number-one team in the Reliance ICC Test Rankings.
In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them.
The Supreme Court on Monday refrained from passing any order on a PIL filed against Telecom Minister Kapil Sibal accusing him of reducing a penalty amount favouring Anil Ambani-headed Reliance Communications, saying persons aggrieved can avail remedy under the law.
Telecom Minister Kapil Sibal tried to put up a brave front over the allegations levelled against him of causing loss to the government by favouring an Anil Ambani-led company.
The charge against Sibal is that, in February 2011, he reduced the penalty on RCom for violation of the United Access Service Licences agreement from Rs 50 crore to Rs 5 crore (Rs 50 million) per telecom circle.
Bharti Airtel, which acquired the African operations of Zain Telecommunications last year, had a net debt of $13.4 billion at the end of the first quarter of the current financial year.
Despite posting a loss, the company has declared a modest dividend.
Idea Cellular has gone off the beaten track in its 3G growth strategy.
Nine million subscribers opt for mobile number portability in first three months of its launch.
Recently, companies like Bharti airtel, Idea Cellular, Vodafone and Reliance Communications raised tariffs for their services by about 20 per cent in most operating circles.
Reliance Communications has launched a seven-inch tablet at Rs 13,000 per piece and Bharti Airtel's Beetel at Rs 8,000 a piece.
Vodafone 3G plans now start from Rs 25 for 25 MB data usage and go up to Rs 1,599 for 12 GB data usage.
Etisalat DB Telecom chief executive officer Atul Jham was also questioned by the panel headed by senior BJP leader Murli Manohar Joshi.
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
Reliance Communications (RCom) and Reliance Industries (RIL) were the top losers among Sensex stocks on Thursday, after a research report by Canada-based equity research firm Veritas made damning accusations against their managements.
Reliance Communications (RCom) and Reliance Industries (RIL) were the top losers among Sensex stocks on Thursday, after a research report by Canada-based equity research firm Veritas made damning accusations against their managements.
Intensifying 3G tariff war, Reliance Communications (RCom) on Friday announced up to 61 per cent cut in rates, following similar reduction by Airtel and Idea.
Critics say the programme, launched 10 months ago in India in collaboration with operator Reliance Communications, violates principles of net neutrality
Cable and DTH companies cannot hold more than 20 per cent stake in each other.
Reliance Communications, India's second-biggest mobile operator, has decided to demerge its telecom tower business -- Reliance Infratel (Rel Infra). The company's board has approved a proposal to restructure the ownership of the tower firm to help create an independent tower company.
ADAG, however, issued a statement saying that he visited the CBI as part of his weekly visit to Delhi.
RCom will use Motricity's m-Core platform to deliver advanced services and applications on its 3G, GSM and CDMA mobile platforms.
The group's telecom arm, RCom, saw its shares plunge by 8.11 per cent to a low of Rs 71.35 in morning trade, while Reliance Capital tumbled by 9.91 per cent to a 52-week low of Rs 323.55 on the Bombay Stock Exchange.
Emirates Telecommunications of the United Arab Emirates, better known as Etisalat, is in discussion with Reliance Communications for a possible merger or acquisition.
TTSL is now behind only Bharti Airtel, Reliance Communications and Vodafone, the company said in a statement.
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