Reliance Communications’ subsidiary Reliance Realty issues corporate guarantee of Rs. 1,400 crore to DoT as per order of the Hon’ble Supreme Court
Deepthi | Myequity news | Date : 03-12-2018 12:40:00 IST
As per the order dated November 30, 2018 of the Hon’ble Supreme Court of India, Reliance Realty Limited, a 100 percent subsidiary of RCOM has submitted the Corporate Guarantee of Rs 1,400 crore to the Department of Telecommunications (DoT).
As per the said Order, DoT is to approve the Spectrum Trading within this week. The Spectrum Trading transaction will now be completed and proceeds will clear the dues of Ericsson and minority investors of Reliance Infratel Limited (RITL).
About Reliance Communications
Reliance Communications Limited, founded by the late Shri Dhirubhai H Ambani, has Corporate clientele which includes 40,000 Indian and multinational corporations, including small and medium enterprises. Reliance Communications has established a pan-India, Next-Generation, digital network that is capable of supporting best-of-class services spanning the entire communications value chain. Reliance Communications owns and operates the world's largest Next-Generation IP-enabled connectivity infrastructure, comprising fibre optic cable systems in India, the USA, Europe, Middle East and the Asia Pacific region.