Reliance Broadband officially shutting down

Here is an excerpt from Reliance communications email:

"Dear Reliance Broadband Customer,

Thank you being our valued customer.

The Telecom sector in India is witnessing unprecedented competitive intensity prompting telecom service providers to re-evaluate their business models. As a step in this direction, Reliance Communications (RCOM) has decided to adopt a 4G focused strategy. In line with this new strategy, we have decided to discontinue our Consumer Broadband Service effective 15th Dec 2017. We sincerely regret the inconvenience caused to you, but this decision was taken keeping in view the larger stakeholder interest.

We will process any deposit or refund due to you within the next 60 days, as per the refund policy. We are seeking your co-operation to allow our partners to recover any equipment presently installed at your premises.

We once again thank you for your continued patronage, and hope to serve you again.

Best wishes,

Reliance Consumer Broadband Team"

Please let me know how to go about refund if they don't pay us within 60 days as they owe my friend Rs 1000 and his line is already disconnected. Customer care has been scrapped off !

I am yet to get refund from last year man.

They stole few hundred from me too. I guess there are not many options when ambani is so close to the government.

So chota bhai is fully bankrupt?. Voice services closing, DTH sold, broadband closing. What else is left ?.

Movies? They finance a lot of Hollywood movies.

Sushubh said:

I am yet to get refund from last year man.

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AS Kapoor2 said:

They stole few hundred from me too. I guess there are not many options when ambani is so close to the government.

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me too....

But this is a family of thugs.... they shelved Delhi Airport Expressline and put it on the shoulders of DMRC to bear the loss....

And it is not Anil Ambani who has had called the shots.... it is Mukesh...... Why would anyone close down its telecom operations with loyal customers.... it was systematically shutdown to benefit Jio..... Now Jio will gallop everything but the losses(which banks will bear, ultimately the common man.....)

@ijsa agreed. Reliance are a bunch of arrogant thugs from top to bottom. Even their customer care reps behave rudely if you compare that to Airtel who seem more educated and composed. I've heard countless people say Reliance didn't pay them a refund. I'll stay faithful to Airtel for the time being.

Sai said:

So chota bhai is fully bankrupt?. Voice services closing, DTH sold, broadband closing. What else is left ?.

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Their tower business is still lucrative and profitable. Banks already formed a consortium to sell the assets. They'll sell tower busniess, deep seas fiber landing points, fixed assets and take a few thousand crores shaving. in the end, common man's tax get lost as losses.

socialize the losses, privatize the profits. Perfect capitalist economy we got going here

Compare it to Tata who pumped in 26000cr into Tata Tele to pay off debts.

Tata are ethical people. even if incompetent in some sectors. They should just shut down their telecom and car business and hive off the profitable land rover- Jlr divisions as separate entity.

^^ I think you may be partially wrong. As per my knowledge they no longer have the loss making B2C telecom business. Their B2B enterprise businesses are very much profitable. And they have good market share and reputation in that (Tata Communications especially).

There is no reason on the earth for them to close their car business when their new gen cars becoming very popular and upcoming models have the capability to wipe competition in some segments (have lots of contacts in Tata Motors, know what is happening there). Wait and watch for another two years. Hyundai will fight with them for maintaining #2 position in India. They have understood the mistakes and are taking constant corrective actions.

Don't forget that Tata Motors PCBU is now run by a legendary former Maruti Suzuki COO & Head of Marketing under the supervision of very very strict German MD. The days of half baked Tata cars are long long gone.

Tata lost money and never made money in telecom sector source

tata sons keep on pumping money into it but I dont see the light at end of tunnel tbh

How much money Tatas' lost in telecom? TTSL has made an aggregate losses to the tune of Rs 31,000 crore on a standalone basis between FY2008 and FY2016, while TTML amassed losses of around Rs 5,600 crore between 2008 and 2017. TTL had a gross debt of Rs 35,204 crore at the end of the March 2016, while the company, which is into operations in Maharashtra, had a debt of Rs 15,535 crore at the end of last financial year. Thanks to the higher equity infusions from the parent company Tata Sons, the networth of both the companies stood lesser impacted considering the losses and the debt. TTL had a negative networth of Rs 16545.83 crore in FY16 and TTML had a negative Rs 5908.84 crore in FY17.

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regarding tata motors, their new models got rave reviews but I dont see many of them on road. and their car business apart from telecom business is losing massive money past few years. only good thing they did was buy out JLR , whose management , repeatedly told in interviews that tata gave them total independence and didnt meddle in their affairs so they have been successful . Even FY 2018 , next to none profits have been forcasted for tata motors (baring JLR)

Tata Motors in a rut as JLR’s operating margins plunge

Well they were missing tech know how on passenger cars which is now complete with jag-lr deal.

You can easily see the refinement in newer cars of Tata.

Is it the same company which used to sell 'Reliance Netconnect'? I used to get 5-10 kbps speeds on it. 😀