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It seems all hopes of Jio getting RCom spectrum is gone now
Anil Ambani-driven RCom to file for bankruptcy protection in NCLT - ET Telecom
Anil Ambani-driven RCom to file for bankruptcy protection in NCLT - ET Telecom
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End of Journey
Ericsson case: Anil Ambani held guilty of contempt, to be jailed if he fails to pay Rs 453 crore in 4 weeks
Ambani to purge the contempt by paying Rs 453 crore to Ericsson in four weeks in addition to a Rs 118 crore amount lying with the court. Court has asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term.
Ericsson case: Anil Ambani held guilty of contempt, to be jailed if he fails to pay Rs 453 crore in 4 weeks
Ambani to purge the contempt by paying Rs 453 crore to Ericsson in four weeks in addition to a Rs 118 crore amount lying with the court. Court has asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term.
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thisisjagan
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Why just 3 months
SC blames Jio for RCom spectrum sale failure - ET Telecom
“The sale of spectrum to Reliance Jio, therefore, did not fructify, not because the DoT wrongfully refused to give its NOC, as has been alleged by the Reliance Companies in their pleadings filed in this case. It fell through only because the prospective buyer, Reliance Jio, refused to give the undertaking that if called upon, it would pay the erstwhile debts of the seller of the spectrum,” observed the apex court.
“The sale of spectrum to Reliance Jio, therefore, did not fructify, not because the DoT wrongfully refused to give its NOC, as has been alleged by the Reliance Companies in their pleadings filed in this case. It fell through only because the prospective buyer, Reliance Jio, refused to give the undertaking that if called upon, it would pay the erstwhile debts of the seller of the spectrum,” observed the apex court.
Reliance Communications urges lenders to release Rs 260 cr to Ericsson
RCom’s spokesperson said: “Reliance Communications group has requested urgent approval from its lenders to release approx Rs 260 crore received from Income Tax refunds, lying in its bank account, directly to Ericsson. A sum of Rs 118 crore has already been deposited with the Hon’ble Supreme Court.”
He further said, “RCom is confident of raising the balance approx Rs 200 crore for payment to Ericsson, in order that the entire Rs 550 crore plus interest thereon stands paid to Ericsson well within the time of 4 weeks allowed by the Hon’ble Supreme Court.”
@Gobinaath Pls update thread title mentioning that deal failed. Jio will never get RCom assets
RCom’s spokesperson said: “Reliance Communications group has requested urgent approval from its lenders to release approx Rs 260 crore received from Income Tax refunds, lying in its bank account, directly to Ericsson. A sum of Rs 118 crore has already been deposited with the Hon’ble Supreme Court.”
He further said, “RCom is confident of raising the balance approx Rs 200 crore for payment to Ericsson, in order that the entire Rs 550 crore plus interest thereon stands paid to Ericsson well within the time of 4 weeks allowed by the Hon’ble Supreme Court.”
@Gobinaath Pls update thread title mentioning that deal failed. Jio will never get RCom assets
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