MUMBAI: An arbitration court has restrained Reliance Communications (RCom) from selling or transferring assets without its permission, and set June 9 as the date for the next hearing, dealing a blow to the Anil Ambani-owned telcos efforts to pare debt by March end under a plan driven by its lenders.
We direct the Claimant (RCom)and its affiliates are restrained from transferring, alienating, encumbrance or disposing of any of its assets without specific permission/leave of the Arbitral Tribunal, the court of arbitration said in an interim order dated March 5.
The respondent (Ericsson) has made an arguable case and the tribunal is of the opinion that in the event it is denied any relief, it will suffer an irretrievable injury,…
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