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R-Jio, RCom ordered to share deal details; ‘You used spectrum, pay’

The Supreme Court came down heavily on telecom companies today, seeking to know who was using the spectrum.

Justice Arun Mishra told Reliance Jio counsel that spectrum is government property, not private property and anybody using it is liable to pay. Justice Mishra told Jio’s counsel, KV Vishwanathan, that it will recover everything from him. “We will catch hold of you and recover the entire amount,” Justice Mishra said.

Vishwanathan informed that he is sharing and not using it, also spectrum usage charges have been paid.

The SC asked the Department of Telecommunications (DoT) to clarify if a nod was given to Reliance Jio to use the spectrum. “It’s government property, someone will be purchasing spectrum. What nonsense is this?” SC said.

RCom’s resolution professional Shyam Divan said that Reliance Communications and Reliance Jio deal didn’t fructify as the prospective buyer refused to give the undertaking to pay RCom debts.

“Why Reliance Jio sale fell through? Who is using this RCom spectrum? We are interested to know this,” Justice Arun Mishra asked. Financial Express

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