FIR is based on a complaint by SBI, which had flagged the account of Reliance Communications as fraudulent. The bank has an exposure of around Rs 3,000 cr in the firm.
In a plea to SC, lenders said any move to ban bankrupt companies such as Aircel & RCom from selling airwaves, leased from govt, will sink their insolvency resolution process.
The top court also asked the Department of Telecom to file the requisite documents in this regard and posted the matter for further hearing on 17 August.
The telecom disputes tribunal had in December 2018 directed the Centre to return around Rs 104 crore against spectrum charges of Rs 774 crore to Reliance Communications.
The $680 million is the amount Industrial & Commercial Bank of China is seeking to recover from Anil Ambani by invoking a ‘personal guarantee’ he gave in 2012.
Reliance Naval says cash crunch is impacting progress of existing projects leading to extended timelines & thereby erosion of confidence amongst clients.
Imposition of formal rights and digital compliance mechanisms introduces new expectations for both employers and workers. This transition will require sustained awareness efforts.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Speaking to ThePrint, Salman Akram urges dignity in tragedy, recalling the loss of his brother, Wing Commander Nauman Akram, in similar crash & the mockery his family faced after.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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