SC asks RCom for Rs 14-bn guarantee, clears path for spectrum sale to Jio

The corporate guarantee will be issued by Reliance Realty Ltd, a wholly-owned subsidiary of RCom; after this, govt will issue NOC within a week

The Supreme Court on Friday asked the government to issue Reliance Communications (RCom) a no-objection certificate (NoC) for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 14 billion within two days.

The said corporate guarantee will be issued by Reliance Realty Ltd, a wholly-owned subsidiary of RCom, its lawyer Kapil Sibal told the court.

The SC order, by a two-judge bench of Justice Rohinton Fali Nariman and Justice Navin Sinha, comes in the wake of Department of Telecommunications (DoT) challenging the Telecom Disputes and Settlement Appellate Tribunal's (TDSAT’s) October