Hi Friends, 
Tried to search this phone on the forum, but was not able to found any post for the same, hence starting this new topic. 
The phone is listed on the Rim's website and the dtls are given below. 
On checking with the local Reliance Moblie Store, he advised that the price is approx Rs. 4500/- and phone is just launched and could be available in few days. 
The product note is available here - http://www.lgmobiles.com/specs/Product%20Note_RD6700_2009Aug_.pdf 
The phone look good (red+blac) in the product note, but not on the RIM's website (probabely silver colour). 
Would request if some one can post any review for this phone, once available. 
Know the battery life of LG phone is not good and for this phone it is just 2.5 hrs.  
Physical Features 104.5x47X13.4 mm  
  80 gm   
  Bar type design  
  240 x 320 pixels  
  262000 Colors TFT display  
  (MP 3 Play/Pause, FWD, Rev ), Volume Keys, Camera   
  128 MB / 64 MB  
  Expandable Memory slot of upto 4 GB  
  Up to 110 Hrs  
  Up to 2.5 Hrs  
  800 mAh Li-Ion   
Multimedia Music Player  
  Media Player  
  FM Radio  
  1.3 Megapixel  
  4 X  
  Video Recording  
  Speaker  
  Voice Recorder  
Communication T9 Dictionary   
  Long Message Service  
  MMS  
  SMS on call reject  
  (Via Reliance mail)  
  Internet Browser  
  99  
  3-Way Call Conference  
  CDMA 800 Mhz  
  BREW  
Connectivity Bluetooth  
  USB  
  PC Synchronisation  
  Supports Data Cable  
  Reliance Mobile World  
  Reliance Netconnect  
Other features 1000 x 4 Phonebook + RUIM Card  
  Airplane Mode  
  Alarm Clock  
  Calculator  
  Organiser  
  Calendar  
  World Clock  
  Games (Sudoku, Carom,Zoo Zoo Club)  
  64 polyphonicand/MP3 ringtones  
Since this is my first post, request you to ignore if there are any mistakes, etc.