FILE PHOTO: A man speaks on his mobile phone as he walks past a closed shop painted with an advertisement of Reliance Communications in Mumbai, India, February 4, 2019. REUTERS/Francis Mascarenhas
MUMBAI (Reuters) – An Indian appellate tribunal has lifted a stay on insolvency proceedings against business tycoon Anil Ambanis debt-laden Reliance Communications, the Economic Times reported on Tuesday.
The decision by the National Company Law Appellate Tribunal (NCLAT) could potentially force Swedens Ericsson to return 5.5 billion Indian rupees ($79.06 million) in dues and interest that RCom paid the telecoms equipment maker last month.
Ericsson dragged RCom to the National Company Law Tribunal last year over unpaid dues from a deal it had si…
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