Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
The telecom industry is moving towards a five-plus one model.
If completed, the move would create a 50-50 joint venture valuing Reliance Communications' cable assets at $1 billion.
He supervised and handled several major big ticket insolvency cases that includes Essar Steel, Bhushan Power & Steel, Bhushan Steel, Jaypee Infratech, ElectroSteel Steel, Binani Cement, Reliance Communications.
The discussions are 'indicative and non-binding' in nature.
The government is considering withdrawing legal cases against telecom companies, involving disputes of about Rs 40,000 crore, a source said on Tuesday. In line with this, the Department of Telecom has already filed an affidavit before the Supreme Court in a case against Anil Ambani-promoted Reliance Communications to take an informed decision whether to proceed with the present appeal or not, the source said. DoT has said the telecom sector is passing through a financial stress due to various circumstances and telecom services providers are making losses.
Alcatel-Lucent currently operates a joint venture with Reliance Communications to manage the Indian carrier's network.
Anil Ambani-led Reliance Communications on Tuesday announced a strategic alliance with US-based GetJar, the world's second-largest app store to avail over 65,000 free mobile applications for R-Com's over 100-million subscribers.
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
MoD dismissed the report saying it draws 'conjectural connection between tax exemption to a private company and procurement of Rafale jets'.
Reliance Communications on Friday said it has been allotted a brand new 8080 series by the DoT for roll-out in Mumbai.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
As per the company website, Reliance Globalcom owns undersea cable system spanning 65,000 km, which connects 40 business markets in India, Middle East, Asia, Europe, and the US.
Life Insurance Corporation of India has hiked its stake in Anil Ambani Group company Reliance Communications to 7.02 per cent after buying fresh shares worth Rs 1,274.4 crore through an open market transaction.
The Department of Telecom (DoT) has decided to do a special audit of Reliance Communications' (RCom) telecom licence companies.
The unit of Reliance Communications may raise debt, equity
RCom had reported net debt of around Rs 37,360 crore (Rs 373.6 billion) as on December 31, 2012.
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for rollout of 4G services.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
After a weak opening, shares of the company dropped further by 5.78 per cent to trade at Rs 83 on the Bombay Stock Exchange.
Reliance 3G Tab comes with a 7-inch capacitive touch screen with Android 2.3 OS and a high speed processor of 1.4GHz.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea on Tuesday submitted applications to participate in the Rs 3.92 lakh crore spectrum auction scheduled to start from March 1, according to official sources. This round of auction will be held for 2,251.25 Megahertz (MHz) in seven frequency bands -- 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz 2100 Mhz, 2300 Mhz and 2500 Mhz -- at a cumulative base price of Rs 3.92 lakh crore. "Bharti Airtel, Reliance Jio and Vodafone Idea have submitted applications (for the spectrum auction)," an official source told PTI.
The district consumer court in its recent order directed the service provider to pay Rs 5,000 towards the mental trauma, and physical and financial losses incurred by Subhash Kharat and Rs 1,000 as litigation expenses.
Mumbai-based Reliance Communications increased voice call prices by about a fifth late last month and also increased the base tariff for voice calls.
NCLAT chairman Justice S J Mukhopadhaya dismissed the pleas against Ambani and officials after observing that consent terms agreed upon between RCom and minority shareholders for payment of dues cannot be a ground for initiation of contempt proceedings.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
As of March 31, 2010, RCom held a 89.71 per cent stake in Reliance Infratel.
Sector experts have, however, indicated that a large part of the airwaves in the upcoming auction will remain unsold.
BSNL had disconnected the point of interconnection of Reliance Communications on May 23 and May 31 in Haryana and on May 4 in Punjab claiming non-payment of pending dues by the private telco.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
Reliance Communications has accused "old 2G operators" of causing over Rs 1 lakh crore (Rs 1 trillion) in losses to the exchequer through "fraudulent means".
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
Reliance BIG TV, the DTH arm of Reliance Communications, is planning to introduce 60 more channels including its own entertainment channels in the next three months, a top company official said.
Indian telecommunications companies are ringing louder. Bharti Airtel and Reliance Communications are among the big league of gloal telecom companies.
During the said period, the Consumer Complaints Council of ASCI found 15 advertisers, including Reliance Communications and Idea Cellular, fast moving consumer goods player Dabur and Elder Pharma and coaching centre Career Launcher, violating the council's code.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Reliance Communications is planning to hive off its direct-to-home and Internet protocol TV businesses into a separate company titled Reliance Digital Works.
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
