Reliance Jio writes down Rs 12,000 crore even before launch of services
Reliance Jio has written down Rs 12,000 crore on spectrum for the FY16. This is the first case where an Operator has written down such a huge amount even before launch of its services. Companies write down an asset to reduce its value or offset a loss or expense. A write-down becomes a write off if the entire balance of the asset is removed from the books altogether.