RCom pays 458.77 crore to Ericsson; Anil Ambani wards off possible jail term
NEW DELHI: A day before the expiry of Supreme Court set deadline, Reliance Communications (RCom) Monday paid Rs 458.77 crore to Swedish telecom equipment maker Ericsson, clearing outstanding dues and fending-off a possible jail term for its billionaire Chairman Anil Ambani. Sources close to RCom said the payment was made to Ericsson Monday evening, a […]
Pay Ericsson Rs 453 crore or face jail: Supreme Court to Anil Ambani
NEW DELHI: Observing there was a ‘wilful default’, the Supreme Court on Wednesday held Anil Ambani, chairman of Reliance Communication(RCom), guilty of contempt of court and ordered the debt-laden company to clear the Rs 453 crore dues to Swedish telecom equipment maker Ericsson within four weeks or face a 3-month jail term. In a verdict […]
RCom tanks over 48%; other group shares crash too
NEW DELHI: Shares of Reliance Communications (RCom) fell sharply on Monday, tumbling over 48 per cent, after the company decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders. The shares of Reliance Communications, after a weak opening, further crashed 48.27 per cent to its record low of […]
Narendra Modi, Anil Ambani carried out Rs 1.3 lakh crore ‘surgical strike’ on defence forces: Rahul Gandhi on Rafale issue
NEW DELHI: Upping the ante over the Rafale issue, Congress president Rahul Gandhi on Saturday alleged that Prime Minister Narendra Modi and Anil Ambani jointly carried out a Rs 130,000 crore “surgical strike” on the defence forces. His renewed attack on Modi came a day after a French media report quoted former French president Francois […]
French government says not involved in choice of Indian partners for Rafale deal
NEW DELHI: The French government has said it was in no manner involved in the choice of Indian industrial partners for the Rafale fighter jet deal, asserting that French companies have the full freedom to select Indian firms for the contract. The statement by the French government came on Friday following a French media report […]
Reliance Communications to exit telecom fully to focus on real estate: Anil Ambani
MUMBAI: Billionaire Anil Ambani on Tuesday announced that the cash-strapped Reliance Communications (RCom) will be completely exiting the telecom business to concentrate on real estate in future. The first priority for RCom, which is credited for democratising telecom services through cheaper offers in early 2000s, is to resolve its over Rs 40,000 crore debt, he […]