DoT seeks more information on the proposed merger of RJIL and Infotel
The Department of Telecommunications (DoT) has asked for additional information on the proposed merger of Reliance Jio Infocomm Limited (RJIL) and its long distance services arm, Infotel Telecom Limited. The detail quest by DoT comes after RJIL has sought its approval for the merger of Infotel with itself. Infotel Telecom had earlier received the company court’s approval for the merger and now it has sought DoT’s approval for the same.
DoT has reportedly asked the telecom operator to provide details about the minimum paid up equity capital as on April 1 for 2012, 2013 and 2014. Further, DoT has sought information on the net worth of the company during the same period along with the breakup of the Indian and foreign equities.
RJIL has also been asked to clarify the merger of the operator with Rancore Technologies Private Limited. Rancore Technologies is also a subsidiary of Reliance Industries (RIL).
Moreover, DoT has suggested that the proposal should also be considered by Telecom Ministry’s Wireless Planning & Coordination (WPC) wing as RJIL holds 20 MHz of broadband wireless access spectrum across all 22 circles.
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