RCom Moves Tribunal To Withdraw Ericsson Appeal

RCom Moves Tribunal To Withdraw Ericsson Appeal

Reliance Communications said on Monday it has moved the National Company Law Appellate Tribunal (NCLAT) to withdraw its appeal to settle dues with Ericsson so as to pursue a debt resolution plan via the National Company Law Tribunal.

The NCLAT has asked Swedish telecom equipment maker to file its reply regarding the matter by February 8 and has scheduled a hearing for February 12, the company said.

NCLAT has prohibited the debt-laden company’s guarantors and any third party from invoking any guarantee, mortgage or to sell any assets without its or the Supreme Court’s permission, RCom said.

[“source-ndtv”]