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Closing Bell: Sensex, Nifty tank on neutral FII; RCom, Bharti Airtel, HDFC Bank, RIL stocks bleed
Wed, Apr 10, 2019
The BSE Sensex crashed 353 points after closing at 38,585 levels while the 50-stocks Nifty index dipped 87 points and closed at 11,584 levels. The index Nifty Bank lost teh psychological 30,000 levels and closed at 29,803 levels after losing 310 points in the intraday trade on Wednesday.
Opening Bell: Sensex, Nifty trade cautious on weak global cues; RCom, Lakshmi Vilas, Dilip Buildcon stocks bleed
Wed, Apr 10, 2019
The BSE Sensex lost 66 points to 38,873 while the 50-stock Nifty went down 19 points to 11,653. Nifty Bank lost 45 points but sustained above psychological 30,000 levels.
Mukesh Ambani saves day for Anil as Reliance Communications makes Rs 550 cr payment to Ericsson
Mon, Mar 18, 2019
The two brothers had fought a bitter public battle after his father Dhirubhai died without leaving a will. They split his businesses between themselves, with Anil getting telecom and power while Mukesh retained oil and petrochemical businesses.
BSNL to approach NCLT this week against RCom to recover Rs 700 cr
Sun, Mar 17, 2019
"BSNL has aready invoked bank guarantee of around Rs 100 crore submitted by RCom for default on payments. Decision was taken on January 4 by BSNL Chairman and Managing Director Anupam Shrivastava to start legal proceedings against RCom for recovery of dues of around Rs 700 crore," the sources told PTI.
RCom-Ericsson case: NCLAT declines to direct SBI to release Rs 259 cr
Fri, Mar 15, 2019
Reliance Communications has filed an appeal before NCLAT to direct SBI to release income tax refund of Rs 259.22 crore that the company has received in trust and retentionship account which is held at the public sector bank. SBI and other lenders to RCom had opposed the move.
SC directs RCOM to pay Ericsson Rs 550 cr with interest
Wed, Feb 20, 2019
The court also imposed a fine of Rs 1 crore each on RCOM, Reliance Telecommunication and Reliance Infratel that would be deposited with the Supreme Court Legal Services Committee (SCLSC).
Supreme Court holds Anil Ambani guilty of contempt; may go to jail
Wed, Feb 20, 2019
In a huge blow to Reliance Communications chairman Anil Ambani, the Supreme Court held the RCom boss guilty of contempt, ruling that the embattled telco should pay Ericsson Rs 450 crore within four weeks.
SC holds Anil Ambani, others guilty of contempt of court for wilfully not paying dues to Ericsson
Wed, Feb 20, 2019
A bench comprising of Justices RF Nariman and Vineet Saran said if the contemnor failed to make the payments within the specified period, they will undergo a jail term of three months.
Reliance Communications stock up 10% as company reaches agreement with lenders
Mon, Feb 18, 2019
"Roadshows by the investment bankers will commence during the next week," the statement said.
RCom plunges to record low after approaching bankruptcy court
Mon, Feb 04, 2019
The stock plunged as much as 54.3 percent to 5.3 rupees apiece on Monday in Mumbai trading. It has shed 19.4 percent so far this year as of Friday`s close.
RCom to propose same asset sale plan to NCLT
Sun, Feb 03, 2019
Reliance Communications on Sunday said it will propose a similar debt resolution plan to the National Company Law Tribunal that it had been pursuing outside the court.
Anil Ambani led Reliance Communications given last opportunity by SC to pay Rs 550 cr; deadline Dec 15
Tue, Oct 23, 2018
The Supreme Court Tuesday asked Reliance Communication Ltd to clear the dues of Rs 550 crore to telecom equipment maker Ericsson India by December 15, saying that delayed payment would attract an interest of 12 per cent per annum.
Anil Ambani led RCom to exit telecom fully to focus on realty
Tue, Sep 18, 2018
Billionaire Anil Ambani Tuesday announced that the cash-strapped Reliance Communications will be completely exiting the telecom business to concentrate on real estate in future
Trouble brews for RCom, as DoT threatens to cancel licences
Mon, Jul 23, 2018
Another trouble strikes Anil Ambani-led Reliance Communications (RCom), as the Department of Telecommunications (DoT) has asked the telecom firm to pay Rs 774 crore in bank guarantees towards upcoming spectrum payment dues or its licences will be cancelled
Reliance Communications alleges govt bias in Idea-Vodafone merger case
Thu, Jul 12, 2018
In a letter dated July 10, 2018 to telecom secretary Aruna Sundararajan, debt-ridden telecom firm Rcom referred to conditional approval given to Idea Cellular and Vodafone India to go ahead with their merger deal without insisting on any bank guarantee (BG) against pending one-time spectrum charges (OTSC) of Vodafone, as per the sources.
Reliance Communications gets this Rs 2,000 crore good news
Thu, Jul 05, 2018
Apart from the cash payment of Rs 6,600 crore, RCOM had also given this Rs 2,000 crore bank guarantee under protest.
NCLAT recalls order that allowed Reliance Communications to go forward with sale of Reliance Infra biz
Wed, Apr 18, 2018
The appellate tribunal would start its hearing on the plea of Reliance Infratel (RCom's subsidiary that runs the tower and fibre businesses) from April 23 over sale of its businesses. "In view of the order passed by the Supreme Court, dated April 16, 2018...Interim order dated April 6, 2018 is recalled," said NCLAT bench headed by Justice S J Mukhopadhaya.
SC vacates stay on sale of assets of Reliance Communications
Thu, Apr 05, 2018
RCom owes the Indian lenders a total of Rs 42,000 crore and its consolidated assets include Reliance Communications, Reliance Infratel and Reliance Telecom. The sale was initiated through a bidding of RCom consolidated's assets and Reliance Jio had agreed to buy spectrum, cell towers and other infrastructure, including 1.78 lakh km of fibre optics line for Rs 17,300 crore.
Reliance Communications calls bondholders' meet over asset-sale plan
Tue, Feb 13, 2018
Debt-laden telecoms carrier Reliance Communications Ltd will hold a meeting of its bondholders on March 6 to seek approvals for asset-sale plans, the company said in a regulatory filing late on Monday. RCom, as the company is widely known, did not provide much details.
RCom seeks withdrawal of Trai directive on subscriber refund
Sun, Feb 04, 2018
Trai is, however, of the view that the demand on customer refunds is fully justified as it pertains to premature closure of services by an operator