Reliance Communications’ subsidiary Reliance Realty issues corporate guarantee of Rs. 1,400 crore to DoT
Mumbai : As per the order dated November 30, 2018 of the 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). RCOM’s Asset Monetization proceeds as per plan.