In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
The Delhi high court on Thursday put on hold the insolvency resolution process (IRP) proceedings against Reliance Communications (RCom) chairman Anil Ambani in relation to the recovery of Rs 1,200 crore loans given by SBI to his two firms. Ambani had given personal guarantees for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel Ltd (RITL), respectively, in August 2016.
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
Reliance Communications Ltd (RCom) on Friday announced the sale of 51 per cent stake in its telecom tower business to Canada-based Brookfield Infrastructure Group, for an upfront cash payment of Rs 11,000 crore.
Officials of Reliance Jio Infocomm claimed to have achieved broadband speeds on their networks that are 10-12 times faster than 3G services.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
They are cheaper to build, costing around Rs 10 lakh each as against Rs 20-25 lakh for a traditional ground-based tower and even less than the Rs 12-15 lakh needed for a tower mounted on a roof top.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
This recognition is a testimony of India's strong belief in promoting entrepreneurship
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
The Jio-Bharti battle will not just be limited to mobile telephony but will extend to the fibre to home space too.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
Bharti's ratings headroom is likely to improve with an equity infusion, planned asset sales and growing EBITDA from Africa.
'Kindly advise about the following stocks. Can I hold or exit?'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Asian shares ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
American Tower bulks up in India with $1.2 billion Viom stake buy
The DoT estimates that it will receive Rs 29,524 cr in revenue from the telecom industry in FY18, which is 38% less than the Budget revenue target of Rs 47,300 cr for FY18
Globally, the focus has moved back to India, especially in terms of telecom assets. Vodafone Idea, with some 300 million customers, continues to be attractive with shares available at a low price.
Banking and telecom will see the highest impact of this transition.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Cut-throat competition, high spectrum costs, and frequent flip-flops in government policies have made it difficult for Vodafone to make money in the country.
The reason is believed to be a 19% increase in interest cost.
Telecom tower companies likely to invest around Rs 500 crore (Rs 50 billion) to enhance network.
ONGC was the top performer while private banking major ICICI Bank extended gains
Despite low tariffs, voice usage is not growing.
Sensex remained volatile through the day.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
But the road map of telecom will be decided by one thing: Whether Jio sticks to its ambitious plan and whether incumbents have enough financial muscle or ability to raise money every year to ensure that Jio does not reach its target, says Surajeet Das Gupta.
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
The big advantage that Jio is able to garner currently is its low cost of operations.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances