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Chandigarh, The Punjab and <keyword id="101738" type="COMPANY" weightage="20" keywordseo="Haryana-High-Court">Haryana High Court</keyword> on Tuesday issued notices to the Punjab government and the Centre on a plea filed by <keyword id="6354504" type="PERSON" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> Infocomm Ltd, seeking action against "miscreants" damaging its telecom infrastructure and forcibly closing its stores in the state. During the ongoing agitation by farmers against three new farm laws enacted by the Centre, over 1500 mobile towers in Punjab have been damaged. Reliance Jio, a subsidiary of <keyword id="6487" type="DOMAIN" weightage="20" keywordseo="Reliance-Industries-Ltd">Reliance Industries Ltd</keyword>, on Monday, submitted in its plea that "vested" interests are engaged in spreading "false rumours" against it and that the petitioner, its <keyword id="1464040" type="PERSON" weightage="20" keywordseo="parent-company">parent company</keyword> and its affiliates had no plans to enter corporate or contract farming. Justice Sudhir Mittal has issued notice of motion for February 8, according to Aashish Mittal, the counsel for Reliance Jio. The company has made the state of Punjab through its chief secretary, Union Ministry of Home Affairs, <keyword id="116246" type="COMPANY" weightage="20" keywordseo="Department-of-Telecommunications">Department of Telecommunications</keyword> and the Punjab Director General of Police as respondents in the matter. In the civil writ petition, Reliance Jio has also sought appropriate directions to respondents for investigation into the well-orchestrated and sustained disinformation campaign being carried out by <keyword id="2404104" type="PERSON" weightage="20" keywordseo="Vested-interests">vested interests</keyword> and miscreants against it. In the petition, the company has stated that in the past few weeks, its over 1,500 telecom towers were damaged or rendered inoperative by miscreants crippling its mobile network in Punjab. A number of its centres and stores were also forcibly closed by miscreants by using illegal force and intimidation, it submitted. The petitioner submitted that its subscribers were being forced to port to other networks, while its employees were being subjected to grave threat to life and forcibly prevented from serving subscribers in the state. According to the petition, vested interests inimical to the petitioner and its parent company <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, are engaged in spreading false rumours to the effect that the petitioner and its affiliates were somehow a beneficiary of recent legislation passed by Parliament governing marketing of agricultural produce. In a statement, Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them . The company also sought constitution of a competent authority under the Punjab Prevention of Damage to Public and Private Property Act for the assessment of losses caused to it.

Punjab and Haryana High Court issues notice to state and Centre on Reliance Jio's plea on telecom tower damage

What if Vodafone Idea dies?

<ul><li><keyword id="1553175" type="General" weightage="80" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> is in talks with its lenders for a loan recast.</li><li>The telco last month opted for the adjusted gross revenue (AGR) dues moratorium.</li><li><keyword id="6354955" type="General" weightage="20" keywordseo="kumar-mangalam-birla" source="Orion">Kumar Mangalam Birla</keyword> may infuse $150 million into Vodafone Idea.</li></ul>Vodafone Idea and <a href="https://www.businessinsider.in/business/telecom/news/airtel-opts-for-agr-dues-moratorium-becomes-the-second-telco-to-do-so/articleshow/87254202.cms">Airtel</a> last month opted for the adjusted gross revenue (AGR) dues moratorium that was announced by the government as part of the <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">telecom relief package</a>. By opting for the moratorium, Vodafone Idea was able to free up its cash-flow by up to ₹60,000 crore for four years, putting it in a better position to recover from its woes. According to a <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/vodafone-idea-in-talks-with-banks-for-loan-recast/articleshow/87616740.cms?from=mdr">report</a> by The Economic Times (ET), now Vodafone Idea is in talks with its lenders, including a consortium led by the State Bank of India (SBI), its biggest lender for a recast of loans. "After the government extended relief to the telco, lenders believe that uncertainty over its future is over for now," said an official aware of the discussions to ET. Vodafone Idea is reportedly looking for a stay on its interest payments, lower rates or a longer payment tenure. Banks have an exposure of ₹28,740 crore to Vodafone Idea, of which, SBI alone has an exposure of ₹11,000 crore. <cmsannotation type="cmsannotation" annotationid="What is a loan recast?" comment="subhead" text="What is a loan recast?">What is a loan recast?</cmsannotation> A loan recast is restructuring of a loan, offering concessions such as stay on interest, longer repayment tenure, lower interest or a combination of these. Banks’ exposure to Vodafone Idea: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of loan book </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDFC First Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,240 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.90% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.40% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,500 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.65% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Punjab National Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.44% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.43% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,700 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.23% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,300 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.21% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.09% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Nomura Vodafone Idea has reportedly also informed its lenders that it has resumed talks with global investors to raise funds. The funds will be used by the telco for infrastructure improvement. As per <a href="https://www.livemint.com/companies/news/birla-may-infuse-at-least-150-mn-into-vodafone-idea-this-month-11635879044507.html">reports</a>, Aditya Birla Group chairman Kumar Mangalam Birla may infuse $150 million into the company, followed by <keyword id="137231" type="General" weightage="20" keywordseo="vodafone-group" source="Orion">Vodafone Group</keyword> which is expected to monetise a part of its stake in Indus Towers and invest it into Vodafone. The AGR dues moratorium and reports of fresh investments have also boosted the confidence of banks in Vodafone Idea. "There is no reason for us to be really concerned. They have plans which they are working on in terms of raising capital, etc, and also increasing the investment in technology. So, that account is back on track,” <a href="https://www.financialexpress.com/industry/provisions-plan-banks-stay-cautious-on-vodafone-exposures/2363215/">said</a> SBI Chairman Dinesh Khara. Business Insider India has written to Vodafone Idea and is awaiting a response. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-need-tariff-hikes-agr-moratorium-might-not-be-enough-say-analysts/articleshow/86285450.cms">Vodafone Idea and Airtel need tariff hikes, AGR moratorium might not be enough, say analysts</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/business/telecom/news/yes-bank-sbi-and-others-want-vodafone-idea-to-be-saved-heres-why/articleshow/86196076.cms">Yes Bank, SBI and others want Vodafone Idea to be saved, here’s why</a>

After relief from Indian government, Vodafone Idea reportedly turns to banks for a loan recast

<ul><li>RCom asset sale which is currently underway will fetch as less as ₹10,000 crore</li><li>Banks and other creditors have claims worth ₹49,000 crore. </li><li>RCom has 43,000 telecom towers across the country, along with spectrum which will expire in 2021.</li></ul> Anil Ambani’s Reliance Communications (RCom) will leave its creditors<a href="https://telecom.economictimes.indiatimes.com/news/rcom-lenders-may-get-only-rs10k-cr-against-rs49k-cr-claims/70941928"> nearly empty handed</a>, according to a report from The Economic Times citing sources. The asset sale, which is currently underway, could fetch as little as ₹10,000 crore including the proceeds from the sale of spectrum and towers. Lenders have claimed ₹49,000 crore from RCom, of which nearly a third of the claims are from banks in China. The China Development Bank and Exim Bank have an exposure of ₹13,256 crore, combined while Standard Chartered Bank has a claim of ₹2,100 crore. Whereas, amongst its top Indian bankers are State Bank of India with an exposure of ₹4,800 crore, Bank of Baroda with ₹2,500 crore; Syndicate Bank with ₹1,225 crore and Punjab National Bank with ₹1,127crore. A valuable asset that RCom holds is the spectrum that it owns, which it will have to return to the government in 2021. The value of the spectrum will depend on how much time the successful bidder gets to use the airwaves, before the licence expires. If the bankruptcy resolution process is delayed, the idle 4G spectrum across 14 circles may lose value further. RCom has 43,000 telecom towers across the country, along with spectrum. Yet, it is not short of suitors. As per ET reports, Airtel is keen on buying its spectrum along with Reliance Jio which is owned by Anil Ambani’s brother Mukesh Ambani. Mukesh had<a href="https://www.businessinsider.in/mukesh-ambani-and-anil-ambani-may-restart-reliance-communications-deal-talks/articleshow/70253856.cms"> bid for and</a> inked a deal to acquire Anil’s telecom assets, but a lawsuit by its lender Ericsson stalled the deal. SEE ALSO <a href="https://www.businessinsider.in/the-difference-between-mukesh-ambanis-jio-and-ani-ambanis-reliance-communications/articleshow/70869465.cms">Mukesh Ambani's strategy with Reliance Jio is avoiding Anil Ambani's mistakes with RCom</a>

Chinese banks have a lot to lose as Anil Ambani’s RCom assets may be worth a quarter of the loans

You Searched For "jio towers punjab" and got 4 results

Punjab and Haryana High Court issues notice to state and Centre on Reliance Jio's plea on telecom tower damage

PTI

What if Vodafone Idea dies?

Rounak Jain

After relief from Indian government, Vodafone Idea reportedly turns to banks for a loan recast

Rounak Jain

Chinese banks have a lot to lose as Anil Ambani’s RCom assets may be worth a quarter of the loans

Katya Naidu

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