ITV

Tag: RBTV

  • Reliance Big TV clears dues to Antrix; to resume service shortly

    Reliance Big TV clears dues to Antrix; to resume service shortly

    MUMBAI: Direct-to-home (DTH) operator Reliance Big TV (RBTV) today settled its dues of Rs 28 crore to Antrix Corpo (Antrix) thereby ensuring the immediate resumption of services. The Telecom Disputes Settlement & Appellate Tribunal (TDSAT)’s order has asked Antrix to reinstate RBTV’s services today, according to Pantel Technologies MD Vijender Singh. Pantel had earlier taken over the DTH biz of Anil Amabni Reliance ADA.

    RBTV was using satellite operator MEASAT’s transponders for providing the DTH service. DTH operators in India have to go through Antrix for hiring transponders even from foreign satellite operators.

    Acknowledging the development, Singh said, “This is a win for us. We will resume the services of RBTV shortly.”

    Earlier this month, Antrix had disconnected the transponder service to the DTH operator over non-renewal of agreement and non-payment of outstanding dues. As a result, beginning 15 April, RBTV’s DTH service had come to a standstill. The Rs 28 crore covers the period from October 2017 onwards.

    Last month, the DTH operator, which is now owned by Pantel Technologies and Veecon Television and Media, had asked for grant of one more opportunity on the assurance that it would abide by the time schedule fixed by the TDSAT. The DTH operator had also said that Antrix would be at the liberty to disconnect the service in case of any default.

    Also Read :

    TDSAT allows broadcasters to disconnect signals to RBTV

    Reliance Big DTH to take FTA route under new management?

  • Veecon Media acquires Reliance Big TV

    Veecon Media acquires Reliance Big TV

    NEW DELHI: Delhi-based Veecon Media and Television Ltd  (Veecon Media) has bought out Reliance  Communications Ltd’s (RCom’s) entire stake in its subsidiary Reliance Big TV Ltd (RBTV). According to a release on the BSE website, RCom has entered into a binding memorandum of understanding with Veecon Media to sell RBTV, which provides direct-to-home (DTH) services called Big TV, across India.  

    As per the terms of the transaction, the buyer will acquire the entire shareholding of RBTV on an ‘as-is where-is’ basis along with all existing trade and contingent liabilities. Veecon Media has the following professionals listed as directors of the company: Jaswant Kumar Srivastava, Lalit Kumar Srivastava, and Rohit Roha. It operates spiritual channel Kaatyayani TV and a 24-hour news network.

    Big TV’s existing DTH license will be renewed with the submission of the required bank guarantees with the ministry of information and broadcasting  by Veecon Media.

    The acquisition ensures that RBTV’s 1.2 million customers continue to receive services uninterrupted and the continuity of employment for the company’s 500 employees.

    The transaction will help reduce the liability of unsecured creditors, benefitting all stakeholders, including lenders and shareholders of RCom.

    The exit from the DTH business is in consonance with the RCom’s stated objective to focus on B2B businesses.