DoT opposes the insolvency resolution plan for RCom and its unit, RTLThe SC has asked the govt to check if any telco is misusing the insolvency process
1 min read20 Aug 2020The SBI led Committee of Creditors (CoC) for Reliance Communications (RCom) told the Supreme Court on Wednesday that if spectrum sale is not allowed, then the telecom company will find itself going into liquidation
4 min read19 Aug 2020DoT has also been contesting the proceeds it would receive as an operational creditor to the insolvent company under the current resolution plan
1 min read19 Aug 2020State Bank of India had last week said removing spectrum from a telco’s assets for insolvency resolution process may threaten a company to not continue as a going concern
2 min read19 Aug 2020Creditors claim that DoT has recognized spectrum as security that can be monetizedSale of spectrum of bankrupt telcos under IBC is critical for financial creditors
2 min read19 Aug 2020RCom owes ₹25,199.27 crore in AGR dues, including spectrum usage charge (SUC) and licence feesJio, on the other hand, has already cleared its relatively small AGR dues of ₹195.18 crore in January, complying with the apex court’s October 2019 order
2 min read17 Aug 2020Creditors approve the resolution plans submitted by Reliance Jio and UVARC for Reliance Communications’ businessesRCom’s 38 lenders will recover ₹23,000 crore, which is more than 70% of the ₹33,000 crore in outstanding secured debt
1 min read4 Mar 2020To accommodate these lenders, the CoC is now extending by 2 weeks the deadline for RCom’s insolvency proceedings.
2 min read17 Jan 2020Domestic banks in favour of selling assets to Jio, UV ARC, while foreign banks seek to drive a hard bargainJio has made the highest upfront cash offer of ₹3,720 crore for RCom subsidiary Reliance Infratel
3 min read15 Jan 2020Here’s a list of stocks that may be in news on Tuesday
3 min read17 Dec 2019The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared