Facing a three-month jail term for contempt of the Supreme Court’s orders to pay Ericsson, Anil Ambani paid off Ericsson with help from his elder brother Mukesh.
Withdrawal of RCom’s spectrum for non-payment of dues would likely hit the services of Reliance Jio Infocomm, which shares the airwaves in 21 circles.
The DoT has already served a show-cause notice on RCom for defaulting on the Rs 21-crore spectrum payment.
With the SC holding three group companies in contempt and threatening Anil with jail, Mukesh threw him a lifeline just two days ahead of deadline.
On February 1, RCom’s board reviewed the progress of the company’s debt resolution plans since the invocation of strategic debt resolution on June 2, 2017.
The process that began on Friday in Mumbai, once admitted by the Court could lead to RCom ending up into 270 days repay debt or liquidate period.