Supreme Court green signals RCom spectrum sale to Reliance Jio

Jio is set to up it's game as the Supreme Court today ordered Reliance Communications to furnish bank guarantees of Rs 1,400 crore within two days - thus paving the way for the sale of its spectrum assets to Reliance Jio. The Court asked the government to clear the sale within seven days after the guarantee is submitted and said that backed by properties as assurance, the guarantee should be sufficient. Rel Comm saw a sharp rally in trade in reaction to the news.