RCom furnishes Rs 14 bn corporate bond, paves way for spectrum sale to Jio

Supreme Court had on Friday asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 14 billion within two days

Anil Ambani’s debt-ridden Reliance Communications has furnished Rs 14 billion Corporate Guarantee that the Supreme Court had ordered the company to issue for its spectrum sale to Reliance Jio Infocomm.

The Supreme Court had on Friday asked the government to issue Reliance Communications (RCom) a no-objection certificate (NoC) for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 14 billion within two days.

According to an RCOM filing, RCom subsidiary Reliance Realty has furnished the amount to pave the way for Department of Telecommunication (DoT) ’s approval on the spectrum trade.

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