Letter to BS: RCom verdict sends strong SC message to other defaulters

The bigger lesson is for the government which ignored the larger picture in an era of digital revolution - that a vital sector would land in distress on very high spectrum charges

The recent episode — where the Supreme Court has ordered Reliance Communications or RCom to pay the money it owes to the local subsidiary of Ericsson AB, failing which RCom chairman Anil Ambani faces jail time — reflects oversight and a failure to do due diligence by regulatory institutions. With a rapidly expanding market-driven economy, the role of these institutions gets critical in maintaining their own reputation as well as that of the government, market and companies. RCom’s bankers were clearly indulgent towards a company whose ability to repay loans was in doubt from 2016, when Jio set off a