BREAKING NEWS

BREAKING NEWS

India's RCom asks lenders to release $36.6 mln directly to Ericsson

India's RCom asks lenders to release $36.6 mln directly to Ericsson
FILE PHOTO: A logo of Reliance Group is seen at Reliance Center in Mumbai, India, December 26, 2017. REUTERS/Danish Siddiqui/File Photo -
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DANISH SIDDIQUI(Reuters)
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(Reuters) - India's Reliance Communications (RCom) said on Thursday it has urged its lenders to allow release of 2.60 billion rupees (28.05 million pounds) directly to telecom equipment maker Ericsson.

RCom said https://www.bseindia.com/xml-data/corpfiling/AttachLive/9b311418-3b21-412e-ae76-835a7fb1dc0f.pdf it had received the sum as income tax refunds and is lying in its bank account.

India's Supreme Court on Wednesday found Anil Ambani, chairman of debt-laden Reliance Communications, guilty of contempt of court for wilfully failing to pay 5.5 billion rupees to Ericsson.

(Reporting by Krishna V Kurup in Bengaluru; Editing by Shreejay Sinha)

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