RCom heads to Indian bankruptcy court after Ambani brothers’ mobile battle
5 years, 11 months ago

RCom heads to Indian bankruptcy court after Ambani brothers’ mobile battle

CNN  

New Delhi CNN Business — One of India’s richest men has turned to a bankruptcy court for help as he battles to save his company after losing a brutal price war with his older brother. Anil Ambani’s wireless telecom business, Reliance Communications, announced Sunday it was asking India’s National Companies Law Tribunal to help sell its assets and settle billions in debts. Dhiraj Singh/Bloomberg via Getty Images The plight of Reliance Communications, once one of India’s largest telecom players, highlights the stunning way in which Ambani’s older brother Mukesh has disrupted the industry in recent years. Anil Ambani’s company announced in late 2017 that it would sell its main consumer mobile business, including its high-speed bandwidth and over 43,000 cellphone towers, to Reliance Jio.

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History of this topic

Airtel Gains Subscribers While Jio and Vodafone Idea Lose; BSNL Sees Small Growth in October 2024
3 weeks, 3 days ago

Airtel Gains Subscribers While Jio and Vodafone Idea Lose; BSNL Sees Small Growth in October 2024

New Indian Express  

NEW DELHI: For the first time since the tariff hike announced by private telecom operators in July 2024, Bharti Airtel added 1.9 million subscribers in October 2024. However, Reliance Jio, India's largest telecom service provider, continued to lose subscribers, with a loss of 3.76 million, while Vodafone Idea Limited lost around 1.97 million customers. Vodafone Idea, India's third-largest telecom operator, …

Data | Vodafone out of ideas: With Airtel and Jio going strong, duopoly concerns emerge in telecom sector
1 year, 11 months ago

Data | Vodafone out of ideas: With Airtel and Jio going strong, duopoly concerns emerge in telecom sector

The Hindu  

The fate of India’s third-largest telecom, Vodafone-Idea, is hanging in the balance. Click to subscribe to our Data newsletter Apart from losing subscribers, Vodafone-Idea’s average revenue per user per month has also failed to keep pace with that of its rivals. Chart 3 shows the average revenue earned per user per month by private service providers in wireless services. The …

Boycott Jio: Reliance alleges Airtel, Vi luring customers to opt out of Jio over farmers' protest, rivals junk charge
4 years, 1 month ago

Boycott Jio: Reliance alleges Airtel, Vi luring customers to opt out of Jio over farmers' protest, rivals junk charge

India Today  

Reliance's telecommunication arm Jio has sought action against competitors Vodafone Idea and Bharti Airtel. In a letter to the regulator, Reliance Jio accused Vodafone Idea and Bharti Airtel of resorting to "unethical" ways and spreading "frivolous rumours" that Jio will somehow gain from the Centre's three new farm bills. "A large number of port-out requests, wherein the customers are citing …

Reliance Jio Retains Top Spot in Mobile Telcos with 35 Lakh New Customers, Vi Loses 37 Lakh: TRAI
4 years, 3 months ago

Reliance Jio Retains Top Spot in Mobile Telcos with 35 Lakh New Customers, Vi Loses 37 Lakh: TRAI

News 18  

Reliance Jio added over 35 lakh wireless subscribers to its mobile network in July 2020, while Vi, which rebranded from the erstwhile Vodafone-Idea, lost 37 Lakh subscribers, noted the Telecom Regulatory Authority of India’s monthly report. According to TRAI, Vi is still the third largest telco in India with a market share of 26.34 percent, behind Bharti Airtel and ahead …

AGR case: SC seeks details of spectrum users of bankrupt telcos
4 years, 5 months ago

AGR case: SC seeks details of spectrum users of bankrupt telcos

Live Mint  

NEW DELHI: The Supreme Court on Friday asked bankrupt telecom companies, including Reliance Communications Ltd, Aircel Group and Videocon Telecommunications Ltd, to furnish details of those using spectrum with insolvent firms. A bench headed by Justice Arun Mishra asked Shyam Divan, counsel representing the resolution professional of RCom, that if Reliance Jio has been using the spectrum with RCom and …

RCom creditors panel to vote on Rs 23,000-cr resolution plans on 24 February; loans of Chinese lenders to reduce by nearly 65%
4 years, 10 months ago

RCom creditors panel to vote on Rs 23,000-cr resolution plans on 24 February; loans of Chinese lenders to reduce by nearly 65%

Firstpost  

RCom’s secured debt is estimated to be around Rs 33,000 crore. New Delhi: The Committee of Creditors of Reliance Communications on February 24 will put to a vote asset bids received from UV Asset Reconstruction Company and Reliance Jio from which lenders are expected to recover around Rs 23,000 crore, according to sources privy to the development. UV Asset Reconstruction …

AGR shock: India's second-largest telco Vodafone Idea stares at bankruptcy
4 years, 10 months ago

AGR shock: India's second-largest telco Vodafone Idea stares at bankruptcy

India Today  

Debt-laden telecom operator Vodafone Idea is on the brink of bankruptcy as it struggles to clear Adjusted Gross Revenue dues. Vodafone Idea Ltd, a joint venture between Vodafone Group Plc and India's Idea Cellular, has been worst affected by the Supreme Court's order asking telcos to clear their AGR dues. Besides AGR dues, Vodafone Idea's gross debt, excluding lease liabilities, …

Govt open to telecom operators’ plea for relief on $13 billion dues: Report
4 years, 11 months ago

Govt open to telecom operators’ plea for relief on $13 billion dues: Report

Live Mint  

India is open to hearing wireless carriers’ suggestions to help ease payment of $13 billion in overdue fees, according to a government official with knowledge of the matter. “The industry continues to face severe financial stress and the outcome could further erode the viability of the sector as a whole,” Bharti Airtel said in a statement, adding that the interest, …

Reliance Jio becomes biggest telecom operator in India by subscriber base, Vodafone Idea now second
4 years, 11 months ago

Reliance Jio becomes biggest telecom operator in India by subscriber base, Vodafone Idea now second

India Today  

After three years of its official entry into the telecom sector, Mukesh Ambani owned Reliance Jio has now become the biggest telecom operator in India in terms of subscribers, as well as, revenue market share. As per the latest information released by TRAI, Reliance Jio has become the largest telecom operator in India after it added 5.6 million mobile subscribers …

Reliance Jio, UVARC emerge highest bidders for RCom assets; lenders expect to recover Rs 25,000 cr
5 years ago

Reliance Jio, UVARC emerge highest bidders for RCom assets; lenders expect to recover Rs 25,000 cr

Firstpost  

Reliance Jio has placed Rs 4,700-crore bids for mobile tower and fibre assets of Reliance Infratel Ltd, a subsidiary of RCom New Delhi: UV Asset Reconstruction Company and Reliance Jio have emerged as highest bidders in asset sale process of debt-ridden Reliance Communications from which lenders expect to recover Rs 25,000 crore, according to banking sources. Reliance Jio has placed …

Bharti Airtel, two others bid for bankrupt RCom’s assets
5 years, 1 month ago

Bharti Airtel, two others bid for bankrupt RCom’s assets

Live Mint  

Bharti Airtel Ltd, VFSI Holdings Pte Ltd and UV Asset Reconstruction Company Ltd have submitted their resolution plans for Reliance Communications Ltd that is undergoing insolvency proceedings. According to information available on the RCom’s website, the company owed financial creditors ₹49,193.46 crore at the time of being taken to bankruptcy court in May last year. Reliance Communications’ assets include spectrum, …

Airtel, Reliance Jio submit bids for debt-ridden RCom telecom assets; Committee of Creditors to meet today
5 years, 1 month ago

Airtel, Reliance Jio submit bids for debt-ridden RCom telecom assets; Committee of Creditors to meet today

Firstpost  

RCom’s secured debt is estimated to be around Rs 33,000 crore. New Delhi: Bharti Airtel, Reliance Jio, Varde Capital and UV Asset Reconstruction Company have submitted bids to buy assets of debt-ridden Reliance Communications, according to banking sources involved in the process. RCom has put its all assets for sale which include spectrum holding of 122 MHz that the company …

Airtel, Jio bid for Reliance Communications telecom assets
5 years, 1 month ago

Airtel, Jio bid for Reliance Communications telecom assets

India TV News  

Bharti Airtel, Reliance Jio, Varde Capital and UV Asset Reconstruction Company have submitted bids to buy assets of debt-ridden Reliance Communications, according to banking sources involved in the process. RCom has put its all assets for sale which include spectrum holding of 122 MHz that the company before insolvency proceedings estimated to be around Rs 14,000 crore, towers business for …

Reliance Communications lenders reject resignation of Anil Ambani, 4 other directors
5 years, 1 month ago

Reliance Communications lenders reject resignation of Anil Ambani, 4 other directors

India TV News  

Reliance Communications on Sunday said its lenders have rejected the resignation of Chairman Anil Ambani and four other directors, and asked them to cooperate in the ongoing corporate insolvency resolution process. The filing further said: ".it is being duly communicated to the aforesaid directors of RCom that their resignations have not been accepted and they are advised to continue to …

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process
5 years, 1 month ago

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process

Firstpost  

Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, New Delhi: Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, according to a regulatory filing. The company, which is going through insolvency process, had made a profit of …

Anil Ambani resigns as director of Reliance Communications
5 years, 2 months ago

Anil Ambani resigns as director of Reliance Communications

India Today  

A day after details of losses incurred by Reliance Communications in the second quarter of 2019-2020 were made public, Reliance Communications on Saturday said Anil Dhirubhai Ambani resigned as the company's director. "Your good office is hereby informed of the resignations tendered by the following directors of Reliance Communications Limited: Anil D Ambani, Chhaya Virani, Ryna Karani, Manjari Kacker and …

Vodafone says future in India could be in doubt after Supreme Court judgment over licence fees
5 years, 2 months ago

Vodafone says future in India could be in doubt after Supreme Court judgment over licence fees

Firstpost  

Nick Read, Vodafone’s CEO said the company was not committing any more equity to India and the country effectively contributed zero value to the company’s share price. Vodafone said its future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges, after a court judgment over licence fees resulted in a 1.9 billion …

Why Are Reliance Jio, Airtel & COAI Fighting Over Telecom Debt?
5 years, 2 months ago

Why Are Reliance Jio, Airtel & COAI Fighting Over Telecom Debt?

The Quint  

The DoT’s definition of AGR was first challenged in 2005 by the Cellular Operators Association of India. The Supreme Court’s ruling means that AGR now includes all revenues of the telcos, including rent, handset sales and profits from sales of assets and scrap. This has resulted in a pile-up of debt for Airtel and Vodafone Idea, forcing both the telcos …

SC verdict on AGR: COAI warns of telecoms sector catastrophe; says Airtel, Vodafone Idea will face 'unprecedented crisis'
5 years, 2 months ago

SC verdict on AGR: COAI warns of telecoms sector catastrophe; says Airtel, Vodafone Idea will face 'unprecedented crisis'

Firstpost  

India’s telecoms sector and leading players Bharti Airtel and Vodafone Idea will face an “unprecedented crisis” if the government refuses to relax its demand for $13 billion in outstanding dues, a lobby group says New Delhi: India’s telecoms sector and leading players Bharti Airtel and Vodafone Idea will face an “unprecedented crisis” if the government refuses to relax its demand …

Reliance Industries to form a digital subsidiary with ₹1 trillion, Jio to be net debt-free
5 years, 2 months ago

Reliance Industries to form a digital subsidiary with ₹1 trillion, Jio to be net debt-free

Live Mint  

The Board of Directors of Reliance Industries today approved the formation of a wholly-owned subsidiary for digital initiatives with the investment of ₹1,08,000 crore in the subsidiary through optionally convertible preference shares, the company said in a press statement. The subsidiary will acquire RIL’s equity investment of ₹65,000 crore in its telecom subsidiary Reliance Jio Infocomm Ltd. Consequent to the …

Anil Ambani inducts sons Anmol, Anshul on Reliance Infra board as directors; retd Lt Gen Syed Alta Hasnain too joins board
5 years, 3 months ago

Anil Ambani inducts sons Anmol, Anshul on Reliance Infra board as directors; retd Lt Gen Syed Alta Hasnain too joins board

Firstpost  

A company spokesman attributed the induction of the junior Ambanis to respect the wishes of the shareholders who during the recent AGM asked the management to get fresh blood into the company by bringing them on board. The company has also appointed retired Army officer Lt Gen Syed Ata Hasnain as an independent director on the board of the company, …

Reliance Jio has gained over 82.6 lakh subscribers in June this year, says TRAI
5 years, 4 months ago

Reliance Jio has gained over 82.6 lakh subscribers in June this year, says TRAI

Firstpost  

Older operators Bharti Airtel and Vodafone Idea continued to lose subscribers — 41.75 lakh combined — during June, while rival Reliance Jio added over 82.6 lakh users, according to data released by Trai. Vodafone Idea shed 41.45 lakh subscribers, and Bharti Airtel 29,883 customers during June, while the Jio continued to add customers at a breakneck speed. Telecom Regulatory Authority …

Reliance Jio adds 82.6 lakh users in June; subscriber churn continues for Vodafone Idea, Airtel: TRAI data
5 years, 4 months ago

Reliance Jio adds 82.6 lakh users in June; subscriber churn continues for Vodafone Idea, Airtel: TRAI data

Firstpost  

New Delhi: Older operators Bharti Airtel and Vodafone Idea continued to lose subscribers - 41.75 lakh combined - during June, while rival Reliance Jio added over 82.6 lakh users, according to data released by TRAI. In absolute terms, Vodafone Idea continued to lead the total subscriber tally at 38.34 crore, followed by Jio with 33.12 crore and Bharti Airtel with …

Reliance Jio set to become India’s No. 1 telecom player by revenue
5 years, 5 months ago

Reliance Jio set to become India’s No. 1 telecom player by revenue

Live Mint  

Bharti Airtel Ltd, which was India’s largest operator till a year ago, will announce its June quarter earnings on Thursday, but the day will be more significant for its arch rival Reliance Jio Infocomm Ltd, which is expected to be crowned the number one telco. With Bharti’s revenue unlikely to exceed that of Reliance Jio, India’s richest man Mukesh Ambani …

Reliance mobile operator Jio to focus on subscriber numbers not tariffs
5 years, 5 months ago

Reliance mobile operator Jio to focus on subscriber numbers not tariffs

Live Mint  

India's Reliance Industries plans to remain focused on subscriber additions rather than chase higher tariffs for its Jio telecoms business, a top company executive said. "We have been telling you from the beginning, the priority for us today is customers," Jio's head of strategy, Anshuman Thakur, said in a news briefing late on Friday after quarterly results. Since its launch …

NCLAT reserves order on admission of contempt plea filed against Anil Ambani, other officials
5 years, 6 months ago

NCLAT reserves order on admission of contempt plea filed against Anil Ambani, other officials

Firstpost  

New Delhi: The National Company Law Appellate Tribunal on Wednesday reserved its order over the admission of a contempt petition filed against Reliance Group Chairman Anil Ambani and its other officials by minority shareholders alleging non-payment of dues by Reliance Infratel. A two-member bench, headed by NCLAT Chairman Justice S J Mukhopadhaya, said it will decide whether the contempt petition …

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May
5 years, 8 months ago

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May

Firstpost  

At the last hearing, RCom had sought 357 days exclusion in the insolvency process citing the stays it had on the process by the NCLAT and the Supreme Court. Mumbai: The National Company Law Tribunal on Thursday allowed Reliance Communications to exclude the 357 days spent in litigation and admitted it for insolvency. With this, RCom, which owes over Rs …

In a sinking ship
5 years, 10 months ago

In a sinking ship

The Hindu  

IN a case of how the mighty can fall, one of India’s top businessmen, Anil Ambani, chairman of the Anil Dhirubhai Ambani Group, faces the prospect of spending time in jail and going bankrupt. Jio’s failure to buy Rcom assets At the centre of Anil Ambani’s problems was Reliance Jio’s failure to buy RCom’s assets. Keeping in mind the crisis …

Reliance Jio could lose $2.1 billion this fiscal year: Bernstein
5 years, 10 months ago

Reliance Jio could lose $2.1 billion this fiscal year: Bernstein

Live Mint  

Reliance Jio Infocomm Ltd., India’s most profitable wireless carrier, could lose as much as ₹150 billion this fiscal year when costs such as handset subsidies are included, said Chris Lane and Samuel Chen, analysts at Sanford C. Bernstein & Co. That would be a bigger deficit than those of its larger rivals Bharti Airtel Ltd. and Vodafone Idea Ltd., even …

RCom looks to real estate assets, Jio deal to pay Ericsson dues of Rs 453 cr after Supreme Court order
5 years, 10 months ago

RCom looks to real estate assets, Jio deal to pay Ericsson dues of Rs 453 cr after Supreme Court order

Firstpost  

RCom owes a total Rs 571 crore to the Swedish telecoms equipment maker, including a one-time settlement of Rs 550 crore and interest payments of Rs 21 crore. Business tycoon Anil Ambani is planning to use a payment from his brother’s company and the sale of real estate assets to pay what he owes to Sweden’s Ericsson following a court …

A day after Supreme Court verdict against Anil Ambani, RCom asks lenders to release Rs 260 cr directly to Ericsson
5 years, 10 months ago

A day after Supreme Court verdict against Anil Ambani, RCom asks lenders to release Rs 260 cr directly to Ericsson

Firstpost  

Observing there was a ‘willful default’, the Supreme Court ordered RCom to clear the Rs 453 crore dues to Swedish telecom equipment maker Ericsson within four weeks or face a 3-month jail term. The Supreme Court on Wednesday found Anil Ambani, chairman of debt-laden RCom, guilty of contempt of court for willfully failing to pay Rs 550 crore to Ericsson. …

Supreme Court verdict against Anil Ambani in Ericsson-RCom case: Chronology of events
5 years, 10 months ago

Supreme Court verdict against Anil Ambani in Ericsson-RCom case: Chronology of events

Firstpost  

The Supreme Court on Wednesday held Reliance Communications Ltd chairman Anil Ambani and two others guilty of contempt of court. New Delhi: The following is the chronology of events in the case in which the Supreme Court on Wednesday held Reliance Communications Ltd chairman Anil Ambani and two others guilty of contempt of court. Observing there was a ‘wilful default’, …

Ericsson-RCom case: Supreme Court holds Anil Ambani guilty of contempt, asks him to pay dues of Rs 453 cr in 4 weeks
5 years, 10 months ago

Ericsson-RCom case: Supreme Court holds Anil Ambani guilty of contempt, asks him to pay dues of Rs 453 cr in 4 weeks

Firstpost  

The RCom chairman and others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks, the Supreme Court said. The Supreme Court on Wednesday held Reliance Communication chairman Anil Dhirubhai Ambani and others guilty of contempt in a plea filed by Ericsson India over not clearing its dues of Rs 550 crore. The Supreme Court …

Supreme Court holds RCom, Anil Ambani guilty of contempt in Ericsson dues case
5 years, 10 months ago

Supreme Court holds RCom, Anil Ambani guilty of contempt in Ericsson dues case

Live Mint  

New Delhi: The Supreme Court on Wednesday held Reliance Communications Ltd and its chairman Anil Ambani guilty of contempt for failing to pay dues to Ericsson India. The court was ruling on Ericsson’s contempt plea against RCom and its chairman Ambani for “wilful disobedience” of the court’s earlier orders to pay dues to the Swedish company. Rohatgi also denied allegations …

Breaking: SC Holds Anil Ambani Guilty Of Contempt; No Jail If Reliance Pays Ericsson Rs 453 Crores In 4 Weeks [Read Judgment]
5 years, 10 months ago

Breaking: SC Holds Anil Ambani Guilty Of Contempt; No Jail If Reliance Pays Ericsson Rs 453 Crores In 4 Weeks [Read Judgment]

Live Law  

The Supreme Court bench of Justices R F Nariman and Vineet Saran has held Anil Ambani, Chairman of Reliance Communications, guilty of contempt of court for defaulting payments to Ericsson as per the undertaking given to the Court.The three Reliance Companies - RCom, Reliance Telecom and Reliance InfraTel- are also held guilty of contempt, and fine of Rs One Crore …

Anil Ambani Appears Before SC In Contempt Plea By Ericsson; SC Adjourns Matter For Tomorrow
5 years, 11 months ago

Anil Ambani Appears Before SC In Contempt Plea By Ericsson; SC Adjourns Matter For Tomorrow

Live Law  

Anil Ambani, Chairman of Reliance Communications, appeared in the Supreme Court in response to the notices issued by the apex court in the contempt petitions filed Swedish company Ericsson. Three officials of the company were also present.The bench of Justices R F Nariman and Vineet Saran however adjourned the matter for tomorrow. The contempt petitions have been filed alleging that …

RCom chairman Anil Ambani reaches Supreme Court in contempt petition filed by Ericsson India
5 years, 11 months ago

RCom chairman Anil Ambani reaches Supreme Court in contempt petition filed by Ericsson India

Firstpost  

The Supreme Court of India had issued notice to Anil Ambani and others on a contempt petition filed by Ericsson India over non-payment of its dues. Reliance Communications chairman Anil Ambani has reached the Supreme Court on Tuesday to appear in a contempt petition filed by Ericsson India over not clearing its dues of Rs 550 crore. Contempt proceeedings Ericsson …

Reliance Communications stock sinks by more than half to a record low as firm asks NCLT to resolve debt
5 years, 11 months ago

Reliance Communications stock sinks by more than half to a record low as firm asks NCLT to resolve debt

Firstpost  

Reliance Communications said its lenders had not received any proceeds from asset monetisation plans, and that its overall debt resolution process had not made any progress Reliance Communications Ltd shares plunged by more than half to a record low on Monday, after the Indian telco said it will seek a fast-track resolution to its indebtedness through bankruptcy court. In one …

Opinion: How India’s banks ran up a $7 billion phone bill
5 years, 11 months ago

Opinion: How India’s banks ran up a $7 billion phone bill

Live Mint  

For a capital-starved economy, India shows little urgency to extricate good money stuck in failed businesses. Even in March 2017, when RCom owed creditors $7 billion, it was clear that tycoon Anil Ambani’s telecom venture stood no chance in a crowded field against elder brother Mukesh Ambani’s shiny new 4G carrier, Reliance Jio Infocomm Ltd., and its offer of cheap …

RCom files for insolvency after govt refuses nod for asset sale to Jio
5 years, 11 months ago

RCom files for insolvency after govt refuses nod for asset sale to Jio

Live Mint  

Anil Ambani promoted telecom company Reliance Communications on Friday said that it has decided to file for insolvency as its lenders have received zero proceeds from its proposed asset monetization plans even after a period of 18 months. This comes one month after its planned asset sale to brother Mukesh Ambani’s Reliance Jio failed to get approval from the Department …

Has Reliance Jio become the largest telecom company in India yet?
5 years, 11 months ago

Has Reliance Jio become the largest telecom company in India yet?

Live Mint  

The Reliance Jio Infocomm Ltd juggernaut continues to gather steam. The market leader reported wireless revenue of around ₹11,300 crore in the September quarter, and it’s unlikely the revenue would have fallen over 8% sequentially in the December quarter. Jio had a revenue market share of around 31.4% in the September quarter using this measure, marginally short of Vodafone Idea’s …

SC issues notice to Anil Ambani over RCom Ericsson dues
6 years ago

SC issues notice to Anil Ambani over RCom Ericsson dues

Live Mint  

New Delhi: The Supreme Court on Monday issued notice to Anil Ambani on a plea by Ericsson India Pvt. Senior lawyer Harish Salve, appearing for Reliance Jio said, “Knowing the problems with prior dues and when giving physical guarantee, we can’t take the risk.” The court was responding to a contempt petition by RCom against the department of telecommunications claiming …

Dues settlement row: Reliance Communications says Ericsson attempting media trial, endangering interest of creditors
6 years ago

Dues settlement row: Reliance Communications says Ericsson attempting media trial, endangering interest of creditors

Firstpost  

RCom said it remains committed to clear dues of Ericsson from spectrum realisation. However, the approval for the same is pending with the government New Delhi: Debt-laden Reliance Communications Sunday accused Swedish telecom gear maker Ericsson, which is an operational unsecured creditor of the company, of attempting media trial and sensationalising the issue of dues recovery, saying it might put …

RCom files case in Supreme Court against DoT over Jio deal
6 years ago

RCom files case in Supreme Court against DoT over Jio deal

Live Mint  

New Delhi: Reliance Communications Ltd on Thursday filed a contempt of court plea against the department of telecommunications in the Supreme Court claiming that it failed to furnish a no-objection certificate clearing RCom’s spectrum deal with Reliance Jio Infocomm Ltd even after the court had directed it to do so. The Supreme Court had on 30 November cleared the sale …

Reliance Jio begins to devour Vodafone Idea, Airtel user base
6 years ago

Reliance Jio begins to devour Vodafone Idea, Airtel user base

Live Mint  

New Delhi: Reliance Jio Infocomm Ltd has wrested market share from Bharti Airtel Ltd and Vodafone Idea Ltd, as the relatively new entrant in the telecom sector continued to add a large number of users even as its bigger rivals lost customers. Reliance Jio added 10.5 million users in October while Vodafone Idea and Airtel lost 7.3 million and 1.8 …

India’s telecom user base edges up to 119.2 crore in October
6 years ago

India’s telecom user base edges up to 119.2 crore in October

Live Mint  

New Delhi: Only two operators—Reliance Jio and state-run Bharat Sanchar Nigam Ltd —gained new subscribers in October, leading to a marginal growth in overall telecom user base to 119.2 crore, according to Trai data released Wednesday. Reliance Jio and BSNL jointly added over 1.08 crore new mobile phone customers, while rest of the operators—Vodafone Idea, Bharti Airtlel, Tata Teleservices, MTNL …

Reliance Jio seen as India’s No.1 telecom company by 2021
6 years, 1 month ago

Reliance Jio seen as India’s No.1 telecom company by 2021

Live Mint  

Mumbai: Reliance Jio Infocomm Ltd, the telecom operator backed by India’s richest man Mukesh Ambani, could be the No.1 telecom company in India in revenue terms by 2021 as it adds expands its subscriber base, said Sanford C. Bernstein & Co. analysts Chris Lane and Samuel Chen. Industry-leading rivals Bharti Airtel Ltd and Vodafone Idea Ltd lack the “stomach” to …

Anil Ambani clears legal hurdle to sell telecom assets to Reliance Jio
6 years, 1 month ago

Anil Ambani clears legal hurdle to sell telecom assets to Reliance Jio

Live Mint  

New Delhi: The Supreme Court on Friday cleared the sale of spectrum by Anil Ambani-controlled Reliance Communications Ltd to elder brother Mukesh Ambani’s Reliance Jio Infocomm Ltd on the condition that the seller furnishes ₹ 1,400 crore as corporate guarantee to the government within two days. The tribunal had also asked RCom to not sell a land parcel worth ₹ …

Reliance Jio rings in the new, setting the tone for others
6 years, 2 months ago

Reliance Jio rings in the new, setting the tone for others

Live Mint  

New Delhi: Like technology, leadership in telecom is in a state of flux. Both India’s original telecom czar Sunil Mittal, the man who ushered in the telecom revolution in the country, and the new market pace setter and arch rival Mukesh Ambani were present, but it was the latter who stole the limelight. Ambani, India’s richest man, has used profits …

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