RCom

Reliance Communications lenders claim Rs 49,193-crore dues

Interim Resolution Professional (IRP) Pardeep Kumar Sethi has admitted claims of Rs 47,038.79 crore with the remaining amount being put for verification.

published on : 1st June 2019

NCLT begins bankruptcy process for Anil Ambani's RCom

Lenders moved NCLT to appoint a new resolution professional and form a committee of creditors as the first step to begin the bankruptcy process.

published on : 7th May 2019

RCom withdraws petition against NCLT order, all set to restart insolvency proceedings

Ericsson opposed the move as there is a possibility that Ericsson India may have to refund the entire amount it got from RCom if insolvency proceedings against the latter were allowed to restart.

published on : 30th April 2019

RCom saga: Ericsson may have to give back Rs 550 crore

While RCom wants to initiate insolvency proceeding due to its inability to pay back lenders, one of its creditors—Swiss telecom major Ericsson—opposes the move.

published on : 9th April 2019

NCLAT stays DoT's show cause notices to RCom for cancellation of spectrum licence

The appellate tribunal also issued notice to DoT and directed to list the matter on April 8 along with the main case.

published on : 26th March 2019

BSNL seeks to recover Rs 700 crore from RCom, to approach NCLT

'BSNL has already invoked a bank guarantee of around Rs 100 crore submitted by RCom for default on payments.'

published on : 21st March 2019

Mukesh Ambani bailing out brother Anil may be watershed moment in their relationship

Though the brothers shared a rough relationship after the division of Reliance, Anil was grateful that the brothers have moved beyond the past.

published on : 19th March 2019

Anil Ambani makes Rs 550 crore payment to Ericsson, thanks brother Mukesh for help

Anil's heavily debt-laden RComm made a Rs 550 crore payment, including interest, to Ericsson just a day before expiry of the deadline set by the SC to clear dues or face a three-month jail term.

published on : 18th March 2019

Anil Ambani in race against time to pay $80 million and avoid jail

The Reliance Group chairman, who once had a net worth of at least $55 billion, has seen it shrink to about $300 million.

published on : 18th March 2019

BSNL to approach NCLT this week against RCom to recover Rs 700 crore

Lenders of RCom said that it will lead to outgo of public money for settling payment of a private party.

published on : 17th March 2019

NCLAT reserves order on Reliance Communications plea to release IT funds

RCom counsel Kapil Sibal appealed for payment to be made to Ericsson from the trust and retention account held by SBI under which assets of telecom firm have been mortgaged.

published on : 13th March 2019

NCLAT pulls up SBI and other RCom lenders over Rs 37,000 crore asset sale 'golden outlook'

The tribunal questioned on why were legal proceedings initiated against the lenders and claimed that creditors are now trying to recover Rs 260 crore which the company has got from IT refunds.

published on : 11th March 2019

Param Shivay: IIT-BHU's latest and fastest French-made supercomputer

The supercomputer of 833 teraflop capacity, built at the cost of Rs 32.5 crore, under the National Supercomputing Mission at IIT-BHU.

published on : 23rd February 2019

RCom seeks lenders' nod for release of Rs 260 crore in bank account to Ericsson

The company plans to pay the money from received from Income Tax refunds in its bank account.

published on : 21st February 2019

Pay Rs 453 crore to Ericsson or face jail: SC to Anil Ambani while holding him guilty of contempt

The apex court held that the RCom chairman and Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani breached the undertaking given to the apex court.

published on : 20th February 2019
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