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Reliance Communications Ltd.
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Reliance Communications

This is likely to be the highest-ever recovery of dues by financial creditors in the troubled telecom sector and in the resolution process under the Insolvency and Bankruptcy Code. All the creditors on the panel have approved the resolution plan submitted by UV Asset Reconstruction Company for Reliance Communications, the Anil Ambani-owned company informed in a regulatory filing. Reliance Infratel has about 43, telecom towers as well as some fibre assets and data centres. UV Asset Reconstruction Company had bid Rs 14, crore for spectrum, real estate assets as well as the enterprise and data centre businesses held in Reliance Communications and Reliance Telecom.

Reliance Communications Ltd.

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Reliance Communications

Reliance Communications Limited popularly, R. Comm was an Indian mobile network provider headquartered in Navi Mumbai that offered voice and 2G and 3G data services. In February , the company filed for bankruptcy as it was unable to sell assets to repay its debt. As of March , the company has reworked its strategy and continues to operate 4g data services, fixed-line communications, data center services, enterprise [ clarification needed ] solutions [ clarification needed ] as well as subsea cable networks under the banner name, "Global Cloud Xchange". It became Reliance Communications Limited in

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The tariff war triggered by new telecom operator Reliance Jio Infocomm with its free 4G services has led to drastic fall in margins of telecom operators.