RIL Picks Debt Liabilities Of Reliance Jio

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Reliance Industries, the parent company of Reliance Jio has announced that it has taken the certain identified debt liabilities of the latter. The company said that it has already received consent from the National Company Law Tribunal (NCLT).

RIL Picks Debt Liabilities Of Reliance Jio

 

"We refer to the disclosure made by Reliance Jio Infocomm Limited (RJIL), a wholly-owned subsidiary of the company, dated March 18, 2020, regarding approval of the Scheme of Arrangement amongst RJIL and certain classes of its creditors by the Hon'ble National Company Law Tribunal, Ahmedabad Bench, for transfer of certain identified liabilities to the Company," Reliance Industries said in a regulatory filing.

RIL said that now the Jio's liabilities have been transferred to the parent company. However, the company has not shared the exact amount of debt. But, earlier many reports claim that Jio has $1.08 trillion of debt. Furthermore, RIL said, "Shall bear no impact on account of assumption of the identified liabilities."

Meanwhile, Reliance Jio has revised its 4G vouchers, and now it is offering double data benefits until the plan is valid. The plans are priced at Rs. 11, Rs. 21, Rs. 51, Rs. 101, and Rs. 251. The company is offering 800MB 4G data, 2GB, 6GB, and 12GB data, with these vouchers.

It also includes free talk time to other networks. The first plan now offers 75 minutes for calling on the other networks. The other plan is offering 200 minutes for the same, while the third plan ships 500 minutes, and the last plan offers 1000 minutes for the calling on other telecom operators such as Vodafone, Idea, BSNL, and MTNL.

On the other hand, the company has not revised its last voucher, and it still offers the same benefits such as 2GB 4G data per day for 51 days. The plan offers speed up to 64 Kbps.

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