‘Jio’s refusal, not DoT’s call, behind RCom’s failed deal’

NEW DELHI: The Supreme Court on Wednesday rejected the Anil Ambani-led Reliance Communication’s (RCom) allegation that the department of telecommunication’s (DoT) refusal to grant a ‘no objection’ certificate led to scrapping of its Rs 25,000-crore spectrum sale deal with Reliance Jio, which left RCom in the red.
A bench of Justices R F Nariman and Vineet Saran said the SC had done its utmost to lend a helping hand to effect sale of RCom assets. “DoT was called before this court and asked to give its NOC for sale of spectrum. However, it was pointed out that NOC could be given according to certain guidelines, one of which mandated that the buyer of the spectrum (Reliance Jio) would have to undertake that it would be responsible for payment of the erstwhile debts of the seller,” it said.