Reliance Communications asks Ericsson to refund Rs.579.74 Cr

Reliance Communications asks Ericsson to refund Rs.579.74 Cr

Agency News

Mumbai 26 Aug, 2019: Opening door to another long legal battle, Anil Ambani-owned Reliance Communications on Monday has asked Swedish Telecom equipment maker, Ericsson to refund Rs. 579.74 crore.

The bankrupt telecom company, Reliance Communications, had already paid 579.74 Crore to Ericsson few months back as per the directions of Supreme Court. Reliance Communications said that the money paid must be returned becasue the Insolvency resolution process that Ericsson had initiated against R Com had resumed. It is believed that the demand by RCom will open another legal battle between the two. Analysts also feared that the legal battle will delay the insolvency process also.

Pointing the new issue, Deloitte, the resolution professional(RP) overseeing the telco affairs, has already sent a letter to Ericsson last week. In the letter, Deloitte asked the Ericsson to refund the total sum of the money which was received by it from RCom.