Jio-Reliance Communications spectrum deal on holdhttps://indianexpress.com/article/business/companies/jio-reliance-communications-spectrum-deal-on-hold/

Jio-Reliance Communications spectrum deal on hold

As a result, the Department of Telecommunications (DoT) has withheld the no objection certificate (NoC) it had undertaken to provide by December 17.

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On Wednesday, senior executives of RCom and RJio met DoT Secretary Aruna Sundararajan and other senior officials, but sources said that no solution had been arrived as yet.

With Reliance Jio on Wednesday sticking to its stand that it would not take the responsibility for past spectrum-related dues of Reliance Communications (RCom), the fate of the Rs 25,000-crore spectrum trading transaction between the two hangs in balance. As a result, the Department of Telecommunications (DoT) has withheld the no objection certificate (NoC) it had undertaken to provide by December 17.

On Wednesday, senior executives of RCom and RJio met DoT Secretary Aruna Sundararajan and other senior officials, but sources said that no solution had been arrived as yet. They added that DoT officials asked the two companies to decide who would bear the liability for past spectrum dues and provide an undertaking. Subsequently, the department would clear the deal.

Both RCom and Jio did not respond to queries sent by FE till the time of going to the press. However, RCom has time to find a solution to the issue as the National Company Law Appellate Tribunal on Wednesday. —FE