Ericsson India Private Limited (Ericsson) has filed an insolvency case against Reliance Communications Ltd. in the Mumbai bench of the National Company Law Tribunal (NCLT) to recover dues totalling Rs. 1,155 crore.
Confirming the development, an Ericsson spokesperson said in an emailed reply to a query from The Hindu, Ericsson can confirm that the company has filed an insolvency petition against Reliance Communications in the National Company Law Tribunal in India. Ericsson has done this as a last resort in order to resolve an issue regarding debt that Reliance owes to Ericsson for services provided under a contract. As the legal process is ongoing, we dont have any further comments at this point. Ericsson, an unsecured operational credit…
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