NCLT dismisses RCom plea seeking ₹325-crore refund from Ericsson
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday dismissed Reliance Communications Ltd’s (RCom’s) plea seeking a refund of nearly ₹325 crore from Swedish telecom equipment maker Ericsson India Pvt. Ltd., part of the ₹550 crore that the Reliance Group paid in 2019 to purge a Supreme Court contempt order.
The tribunal held that the payment did not violate insolvency norms, and was made solely to comply with the Supreme Court’s directions and not for any insolvency-linked settlement.
