As reported earlier, the debt-ridden Reliance Communications, in December 2017, struck a deal to sell most of its spectrum, fibre, towers and switching nodes to Jio, but the sale got stuck due to legal issues. Ericsson, which is claiming Rs 1,012 crore of arrears from RCom, got an arbitration tribunal order preventing the transfer of the telco’s assets till further orders. RCom reached the Bombay High Court against the tribunal’s order, but its appeal was dismissed over a week ago.
Now to get relief, Anil Ambani- owned RCom has moved the Supreme Court to remove a legal hurdle which threatens to stall its efforts to complete the sale of wireless assets to Reliance Jio Infocomm and repay part of its Rs 45,000 crore debt before the end of March.
Rs 25,000 crore deal with Jio is crucial for it to avoid landing in the bankruptcy court.
Source: http://cablequest.org/index.php/news/legal-news/item/12444-rcom-reaches-sc-on-asset-sale-issue
Now to get relief, Anil Ambani- owned RCom has moved the Supreme Court to remove a legal hurdle which threatens to stall its efforts to complete the sale of wireless assets to Reliance Jio Infocomm and repay part of its Rs 45,000 crore debt before the end of March.
Rs 25,000 crore deal with Jio is crucial for it to avoid landing in the bankruptcy court.
Source: http://cablequest.org/index.php/news/legal-news/item/12444-rcom-reaches-sc-on-asset-sale-issue
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