Published on 21/02/2019 1:51:23 PM | Source: HT Media

Reliance Communications asks lenders to release $36.6 million directly to Ericsson

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Mumbai: Reliance Communications (RCom) said on Thursday it has urged its lenders to allow release of ₹260 crore ($36.55 million) directly to telecom equipment maker Ericsson.

RCom said it had received the sum as income tax refunds and is lying in its bank account.

The Supreme Court on Wednesday found Anil Ambani, chairman of debt-laden Reliance Communications, guilty of contempt of court for wilfully failing to pay ₹550 crore to Ericsson.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed