The chairman said that the debt resolution will see RCom in leaving the SDR framework with no conversion of debt into equity and zero write-off by lenders and also said that he further expects full closure by March 2018.
Since September 2016, Reliance Jio Infocomm Ltd has been laying the markers for the telecom sector.
An asset monetisation process for Reliance Communications assets was mandated by the lenders of RCom, who appointed SBI Capital Markets Limited to run the process.
As part of the deal, Reliance Jio will acquire spectrum, tower, optical fibre network and other wireless assets of RCom. "These assets are strategic in nature and are expected to contribute significantly to the large scale roll-out of wireless and Fiber to Home and Enterprise services by Reliance Jio", the statement added.
After the transactions, RCom is expected to gain from the sale, the proceeds of which will be used for the company's debt reduction. While the companies are yet to announce the deal size, it is estimated to be worth around Rs 23,000 crore, a massive relief for Anil's debt-ridden Reliance Communications (RCom) that is saddled with loans of almost Rs 45,000 crore and was facing possible bankruptcy proceedings. The company went to Anil Ambani's fold in 2005 when the two brothers split their family businesses.
"The RJio deal consideration comprises primarily of cash payment and includes transfer of deferred spectrum instalments payable to the Department of Telecommunication (DoT)". Anil had said on Tuesday that after the completion of the revival process, the "new RCom" would have debt of just Rs 6,000 crore, down from Rs 45,000 crore in October.
The development came a month after RCom was hit by an insolvency petition from China Development Bank, its largest single creditor. Even a deal with Brookfield Infrastructure Group for selling its tower assets did not materialise.
It also said that at least 13 journalists and media personnel were killed past year while the number was four in 2015. Mohammad Karim said Thursday the powerful mine killed six shepherd children Wednesday ages 10, 9 and 8.
She was held at the airport on October 9 on suspicion of what Egyptian authorities consider drug trafficking. She said she was unaware the drug, which is legal in the United Kingdom , was banned in Egypt .
Once a BJP fortress, it has swung against the party these elections, but has managed maximum representation with seven ministers. Sources said that senior party leaders met Amit Shah to finalise the names of the ministers in Rupani's cabinet.
Marriage and family therapist Paula-Jo Husack told CBS San Francisco that gaming disorder is not only serious, but an "epidemic". The WHO entry does not include any information about prevention or treatment of gaming disorder, unfortunately.
People accuse me of hype and absurdity when I refer to "dangerous" cold - but it is not a phrase I use lightly. Highs will be in the upper teens and low 20s, but there is a good chance wind chills will hover close to zero.
The FBI has said McCabe did not start overseeing the Clinton investigation until his wife's state Senate campaign was over. McCabe's wife, Jill, did not get $700,000 in donations from Hillary Clinton for a Virginia state Senate race in 2015.
Lorde on Sunday canceled a performance in Israel scheduled for next summer after appeals by pro-Palestinian activists. Israeli Minister of Culture, Miri Regev , said in a statement that he hoped Lorde would reverse her decision.
There remained a heavy police presence outside the apartment building Wednesday as authorities continued to investigate. The two women were in a relationship, Tedesco said, and the children belonged to one of the women, the chief said.
Both nations claim Kashmir in full. "On the other hand, the entire episode unfolded was deeply unsatisfactory". He said the meeting was originally scheduled to last half an hour but was extended by another 10 minutes.
Apple raises pay for Tim Cook, other top executives
Cook's personal use of private aircraft based on hourly flight charges and other variable costs incurred by Apple for such use". Tim Cook , the chief executive of Apple , saw his pay package rise by $4 million to $12.8 million thanks to a bounce in sales.
Giants suspend Apple for finale for 'detrimental' conduct
He was selected to start in the Pro Bowl for the second consecutive season, but will not be participating due to the injury. I guess he don't remember things, " Collins said on December 14 when reporters relayed Apple's reaction.
Sam Darnold gives Browns hope - with a reservation
Carson Wentz, Jared Goff, Dak Prescott, and Deshaun Watson were all passed on by Cleveland in the last two years. That out the way, the redshirt sophomore is playing something of the anti-Josh Rosen in this situation.
Power outage strikes Disneyland in California
The outage is now affecting the Toontown and Fantasyland sections of the park, with crews working furiously to restore power. Twitter user Geoff Fienberg tweeted that he was " stuck on a fuckin ride " (he later identified it as "It's a Small World").
Google might set up Pixel 2 retail stores in India
The stores could offer Google Home smart speakers, Chromecast devices, Pixel laptops , Daydream View VR headsets, and more. He said the company had created a "dark room" to show that the Pixel 2 can take good pictures at night or low light.
Winter Weather Advisory in Place Overnight Tonight for Snow
By Monday afternoon, winds will blow from the west at 18 to 28 miles per hour, and temperatures will reach about 42 degrees. And 6-9 inches of snow outside 495 (again, NW of Boston), Worcester, to northern MA into VT & NH (away from the coast).