According to a statement from the companies, the agreement will see Jio acquire a portion of spectrum in the 800 MHz band in these circles at an aggregate value of Rs 1,497 crore.
This marks the first such deal between the two telecom giants.
Long stop refers to a timeframe in which all the conditions precedent for deal are met for the transaction to be completed.
The deal, which is contested by Amazon, is facing legal hurdles and a decision from the Supreme Court is pending over the petition filed by the e-commerce major.
While Jio still holds the lead in terms of gross subscribers, its low proportion of active subscribers has left it behind Airtel on the latter front.
'The Supreme Court has directed that, in the meantime, the NCLT proceedings will be allowed to go on but will not culminate in any final order of sanction of scheme,' said Future Retail.
The Court has also directed for the attachment of assets of Biyani and other FRL shareholders.
Several media houses had reported that students staged a demonstration at Banaras Hindu University on Tuesday opposing a proposal to make Nita Ambani a visiting professor.
Shubham Tiwari, one of the protesting students, said instead of Ambani, those who have set an example of women empowerment should be invited.
Among those who are active in the space, the Tata group and Airtel both have a greater focus toward larger enterprises, with the former not present in the MSME space at all.
DoT sources told PTI that the demand notes will be sent out to the three companies this week, and entails largely the upfront payment for spectrum that is ready to be allocated.
RHFL’s total obligation on the 5-year tenure secured term loan at 9.25 per cent per annum is Rs 200 crore.
RHFL said the lenders of the company are already into an Inter-Creditor Agreement (ICA) for arriving at the debt resolution plan in accordance with RBI.
Reliance Foundation chairperson Nita Ambani further urged all those employees eligible to get vaccinated under the government's COVID-19 vaccination programme to register quickly.
In a letter, the association said hundreds of their members and families are suffering on account of Amazon's unwarranted adventurism.