Asset sale to Jio at risk from govt’s ₹2,940 cr demand: RCom to SC

Reliance Communications (RCom) has told the Supreme Court that its asset sale to Reliance Jio will be in danger if approvals aren’t ready by mid-December. The government has refused to approve RCom’s spectrum sale to Jio unless it’s given ₹2,940 crore in bank guarantees from either company. RCom said it has given land valued at ₹1,400 crore as security.