RCOM subsidiary submits Rs 1,400 cr corporate guarantee to DoT

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Reliance Communications (RCOM) on Monday said its auxiliary Reliance Realty has presented a corporate certification of Rs 1,400 crore to the Department of Telecommunications (DoT) according to the Supreme Court’s structure on November 30.

The zenith court in its request guided the DoT to favor RCOM’s range exchanging bargain inside seven days of the request and advised RCOM to outfit Rs 1,400 crore worth of corporate assurance.

“The range exchanging exchange will currently be finished and continues will clear the duty of Ericsson and minority financial specialists of Reliance Infratel Limited (RITL),” RCOM said in an announcement. RCOM’s benefit monetisation would continue according to design, it said.

The offers of RCOM on the BSE shut at Rs 16.62, higher by Rs 2.35 or 16.47 percent from the past close.

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