The insolvency pleas follow two separate insolvency petitions filed by China Development Bank and telecoms gearmaker Ericsson.
Reliance Communications defaulted on a $1.78-billion loan it took from China Development Bank.
Days before the PM replaced the deal with one that would eventually exclude HAL and favour Reliance, the Dassault CEO had said ‘contract finalisation and signature could come very soon.’ So what changed?
The defence minister clarified that not “a single procedure was violated” during the purchase and that when the Modi government came to power, “the situation was grim” and that it had “to move forward fast”.
RCom, controlled by billionaire Anil Ambani, had a net debt of Rs 44,345 crores ($6.92 billion) at the end of March.
Reliance may expand the capacity at its dual refinery complex in Jamnagar in Gujarat by 30 million tonnes a year to 100 million tonnes per year.
The inter-ministerial group is likely to give in to a request for a hike in the duration of deferred spectrum payments, a move that could help increase the cash flow of telcos by Rs 55,000 crore.
The companies include Bharti Airtel, Vodafone India, Idea Cellular, Reliance Communications and Aircel.
Reliance Industries launched on Friday a “zero-cost” phone with 4G-enabled features in a move aimed at further disrupting the country’s highly competitive telecoms sector.
Was TRAI, after consulting with the AG, right in allowing Reliance Jio to extend its tariff promotional offer after it expired?
While the case may have been stalled due to political pressure, SEBI’s decision shows that Reliance should have acted in a more even-handed manner.
J.S. Deepak’s transfer may have been prompted by his conflict with Reliance Jio and TRAI and reflects poorly on an already controversial, crony capitalism-prone sector.
Singrauli, a district in Madhya Pradesh, has seen widespread displacement of tribals whose rights are compromised in favour of mining.
Prominent lawyer Prashant Bhushan discusses the recent Sahara-Birla diaries, over-invoicing of coal imports by Reliance and Adani groups, and the Essar tapes.
The Hindutva ideology propagated by the organisation, represents a unitary vision of politics and development, which can be more easily aligned with the scientific rather than humanistic mode of thinking.
An excerpt from Sue the Messenger: How legal harassment by corporates is shackling reportage and undermining democracy in India
Despite the likely rise in political confrontation and a deepening economic crisis in Venezuela following the recent elections, India-Venezuela relations will remain mostly unaffected and continue to be focused on oil.
Auditor pulls up Department of Telecom for causing loss of thousands of crores by favouring, failing to impose fines on private operators