Ericsson rejects 2 settlement proposals offered by RCom
Posted on 26th May 2018 |
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MUMBAI | NEW DELHI: Negotiations between Reliance Communications and Ericsson for a settlement have hit a stalemate with the Swedish telecom equipment maker rejecting two proposals of the Anil Ambani owned operator. According to people familiar with the development, RCom had offered either a payment guarantee by an Anil Ambani-controlled company or an undertaking by the directors of the telco and its two units — Reliance Infratel and Reliance Telecom — that the Swedish equipment maker would be paid within 15 days if it withdraws its insolvency petition. |
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RCOM MOVES NCLAT CHALLENGING ORDER ALLOWING INSOLVENCY PLEA
Posted on 23rd May 2018 |
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Reliance Communications on Tuesday said it has moved appellate tribunal NCLAT challenging the National Company Law Tribunal (NCLT) decision on beginning insolvency proceedings against it on a plea filed by Swedish telecom equipment major Ericsson. Anil Ambani-run RCom's plea is expected to be heard by the National Company Law Appellate Tribunal (NCLAT) in the coming week. |
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Anil Ambani’s ADAG shares rally! RCom share price gains 20%, RNaval jumps 17%
Posted on 22nd May 2018 |
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Shares of Anil Ambani’s ADAG (Anil Dhirubhai Ambani Group) rallied in the afternoon deals on Tuesday with the share price of telecommunication company Reliance Communications (RCom) gaining nearly 20% after the latter moved to NCLAT to challenge the stay order of NCLT in connection with the settlement with Swedish telecom equipment manufacturer Ericsson. Meanwhile, shares of Reliance Naval and Engineering (RNaval) also jumped more than 17%. |
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Insolvency: RCom, Ericsson India likely to settle dispute outside NCLT
Posted on 18th May 2018 |
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Even as the National Company Law Tribunal (NCLT) has admitted the petition for insolvency, Reliance Communications (RCom) is in talks with Ericsson India for a settlement of the dispute to pay Rs 11.5 billion to the latter, said sources. RCom in its reply to queries from the stock exchanges on the possible settlement with Ericsson said, “Appropriate disclosures will be made in accordance with applicable regulations, as and when any disclosable event occurs.” |
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Insolvency call hits R-Com
Posted on 17th May 2018 |
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New Delhi: Shares of Reliance Communications (R-Com) plunged nearly 16 per cent a day after the NCLT admitted an insolvency petition filed by Ericsson against the company and two of its subsidiaries. The stock fell sharply by 15.26 per cent to end at Rs 10.55 on the BSE. Intra-day, it dropped 20 per cent to Rs 9.95. |
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ADAG shares hit 52-week lows; RCom falls 14%
Posted on 16th May 2018 |
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Shares of Anil Dhirubhai Ambani Group (ADAG) companies were trading lower for the second straight day with Reliance Communications (RCom) falling 14% in intra-day trade on Wednesday after bankruptcy court admits Ericsson's plea against the company. |
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RCom appeal against Gujarat move to levy property tax dismissed
Posted on 27th April 2018 |
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The Supreme Court has dismissed the appeal of Reliance Communication, challenging the Gujarat government’s demand notices seeking to levy Rs 13-crore property tax on cell towers and telecom equipment installed on rooftops and building terraces in the state. A bench led by Justice Ranjan Gogoi, while dismissing the appeal, said, “If a competent court has passed the order, you (RCom) can not drag on for a year.” |
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RCom gets a week to pay Rs 774.19 cr towards deferred spectrum liabilities
Posted on 26th April 2018 |
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The Supreme Court on Wednesday gave Reliance Communications one week to pay Rs 774.19 crore towards deferred spectrum liabilities. A bench led by Justice AK Goel gave RCom time till May 2 to pay its liability while disposing of the telecom firm’s two appeals challenging the TDSAT’s April 19 judgments that had refused to grant additional time to make the payment. |
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