In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
Reliance Communications could become a much more formidable opponent.
The amount from securitisation has been utilised to repay rupee debt, saving significant interest costs for the company.
The government has sent show-cause notices to 5 telecom firms including Reliance Communications and Tata Teleservices for alleged understatement of revenues of over Rs 10,000 crore.
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.
Global businesses still believe that India consumption story is intact despite the slowdown of the past couple of years.
Internet.org is a Facebook-led initiative
The company said it becomes the first operator in the country to partner with Twitter on the new 'Twitter Access' programme.
RCom is looking at listing Flag Telecom through a Singapore business trust, Global Telecommunications Infrastructure Trust on the Singapore stock exchange.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
The RIL-RCOM deal is an indication of telecom sector's future. As the mobile subscriber numbers plateau, telcos need to look at alternate stream of revenues, and data services will be the key to their growth.
After being at loggerheads for 8 years, Ambani brothers have sealed a Rs 1,200-crore (Rs 12-billion) deal wherein Mukesh will use his younger sibling's optic fibre network for launch of his telecom venture.
The Indian stock market boom saw the rise of many wealthy investors. However, some of the high profile companies did not live up to the expectations of investors.
However, TDSAT has asked govt to dispose of two representations made by the company on the guidelines.
Ericsson to manage day-to-day ops across wireline and wireless network.
New tariffs to apply to all customers with immediate effect and the move is aimed at bringing in greater RPMs (revenue per minute) and profitability.
Their accumulated debt stood at Rs 1,85,720 crore in March.
Montek Singh Ahluwalia supports operators' plea. He tells the finance minister that existing players should not be charged for the remaining licence period.
The network sharing agreement is the start of a new era of partnership between the brothers. More deals on sharing towers and intra-city fibre network are likely.
The government is likely to get about Rs 24,000 crore from one-time spectrum fee that has been levied on existing operators for holding radiowaves beyond a prescribed limit.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
Shares of the Anil Ambani-promoted firm ended 1.90 per cent higher at Rs 64.50 on the BSE. During the day, the stock had jumped 9 per cent to Rs 69.
Analysts rue the research firm's dramatic delivery approach, pan the bear cartel view.
The company has defaulted on some of the payments to lenders and it has received time till December for strategic restructuring plan
Anil Ambani-led Reliance Group on Thursday signed an agreement with China's retail player Wanda Group to set up a joint venture for building integrated township projects in India.
Telcos' m-cap rises Rs 11,286 crore; Bharti, RCom lead.
Companies may face significant spectrum fees from the government.
"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.
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.
The Rs 8,000-cr deal is expected to be finalised early next month.
The UAE-based Emirates Telecommunication Corporation (Etisalat) on Thursday filed a petition against Shahid Balwa and Vinod Goenka, promoters of the beleaguered Swan Telecom, for "fraud and misrepresentation".
Operators oppose levying of charges for additional spectrum with retrospective effect.
Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani has taken a huge cut in his total remuneration from his four main companies in 2011-12 at about Rs 5.5 crore (Rs 55 million), lower by nearly two-third from the previous year.
Incumbent operators can retain 2.5-MHz spectrum in 900-MHz band, rest to be refarmed decision final.
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.
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 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.
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