New Delhi: The Department of Telecommunications (DoT) is likely to study Reliance Communications’ (RCom) spectrum sale proposal further, before giving the move a no-objection certificate, a senior government official said on Friday. The statement comes in the backdrop of the department on Friday telling the Supreme Court that it would “immediately” issue a no-objection certificate for sale of spectrum by RCom to Reliance Jio Infocomm.
The department agreed to give its approval to the deal after RCom said it would not “redeem” its preferential shares that are reflected in the balance sheet of Reliance Realty for 2018-19, without the prior permission of the department. Reliance Realty had submitted a corporate guarantee of Rs 1,400 crore to the telecom department following the Supreme Court’s order. The department has not yet given an approval to the deal, which was announced last year, as it claims that the company owes the government Rs 2,900 crore in spectrum usage charges.
