| Reliance Communications (RCOM) Related news |
Reliance Communications committee of creditors to meet today
Posted on 27th August 2019 |
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The committee of creditors (CoC) of Reliance Communications (RCom) will hold their sixth meeting on August 27, according to a BSE notice. Ericsson had dragged RCom to insolvency and bankruptcy proceedings in September 2017 over non-payment of dues of over Rs 1,500 crore. The petition was admitted in the National Company Law Tribunal (NCLT), however, the National Company Law Appellate Tribunal (NCLAT) stayed the insolvency order, aer an appeal from RCom and a settlement with Ericsson was chalked out. |
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Two RCom promoters pledge 11.5% more stake in Axis Trustee services
Posted on 17th August 2019 |
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Two promoter entities of Reliance Communications (RCom) have pledged 11.5 per cent more stake in favour of Axis Trustee Services, according to regulatory filings. Reliance Communications Enterprises and Reliance Telecom Infrainvest on August 16 pledged about 11.51 per cent of their holding in Reliance Communications amounting to 31.82 crore shares in favour of Axis Trustee Services acting as security/debenture trustee. |
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RCom Q1 loss widens to Rs 366 crore
Posted on 10th August 2019 |
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New Delhi: Debt-ridden Reliance Communications on Friday reported widening of consolidated loss to Rs 366 crore in the first quarter ended June 30, 2019. The company had posted a loss of Rs 342 crore in the same period a year ago. |
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Anil Ambani’s distressed unit of Reliance Communications seeks bond extension
Posted on 27th July 2019 |
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A unit of Reliance Communications Ltd., tycoon Anil Ambani’s distressed telecom firm, is seeking an extension from holders of its dollar-denominated bonds maturing Aug. 1, the company’s spokesman said. Global Cloud Xchange is in discussions with holders of its 7% $350 million notes for a deal that would provide the issuer more time to discuss options on the maturity of the senior secured notes, the spokesman said in a statement. |
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RCom unit seeks extension from holders as maturity looms for dollar bonds
Posted on 26th July 2019 |
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A unit of Reliance Communications Ltd., tycoon Anil Ambani’s distressed telecom firm, is seeking an extension from holders of its dollar-denominated bonds maturing Aug. 1, the company’s spokesman said. Global Cloud Xchange is in discussions with holders of its 7% $350 million notes for a deal that would provide the issuer more time to discuss options on the maturity of the senior secured notes, the spokesman said in a statement. |
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RCom pay default: Contempt plea against Ambani nixed
Posted on 24th July 2019 |
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The National Company Law Appellate Tribunal on Tuesday dismissed a contempt petition filed against Reliance Group Chairman Anil Ambani and 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, dismissed any contempt plea against Ambani and his officials. |
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RCom Spectrum case: Supreme court dismisses DoT plea against TDSAT order
Posted on 3rd July 2019 |
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The Supreme Court on Tuesday dismissed the Department of Telecommunications’ appeal against a Telecom Dispute Settlement Appellate Tribunal (TDSAT) order that held that liabilities of past dues related to spectrum usage charges (SUC) rested only with Reliance Communications (the seller) and not the buyer of its 800 MHz spectrum, which then was Reliance Jio Infocomm. |
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Chinese lenders demand at least $2.1 billion from Anil Ambani's RCom
Posted on 18th June 2019 |
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Chinese lenders, including China Development Bank, Industrial and Commercial Bank of China and Exim Bank of China, have demanded at least $2.1 billion from Anil Ambani’s Reliance Communications, that slid into bankruptcy earlier this year. State-owned China Development Bank, with loans worth Rs 9,860 crore ($1.4 billion) was the biggest creditor to the indebted telecom company, according to a filing made by the company to stock exchanges. |
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RCom to Jet: Here are 10 worst-performing stocks of 2019. Do you own any?
Posted on 13th June 2019 |
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At a time when the frontline benchmark index on the BSE, the S&P BSE Sensex, breached the 40,000 mark, nearly 275 stocks that comprise the BSE 500 index have given a negative return thus far in calendar year 2019 (CY19). A ‘hope rally’ that the Narendra Modi – led National Democratic Alliance (NDA) would secure a second consecutive term continued post the outcome of the general election as well. |
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RCom lenders claims Rs 49,193 crore dues
Posted on 1st June 2019 |
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Financial creditors of Reliance Communications have submitted claims of over Rs 49,193 crore, which showed that China Development Bank, LIC and SBI have the highest exposure in the dues. According to the list, Interim Resolution Professional (IRP) Pardeep Kumar Sethi has admitted claims of Rs 47,038.79 crore and the remaining amount has been put for verification. |
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