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RCom says deposited Rs 131 cr towards part payment to Ericsson

Reliance Communications (RCom) on Monday said that it has been given four weeks' time to file its response to the contempt petition filed by Ericsson against the telco's chairman Anil Ambani.

NEW DELHI: Reliance Communications (RCom) on Monday said that it has been given four weeks' time to file its response to the contempt petition filed by Ericsson against the telco's chairman Anil Ambani. The Swedish telecom gear maker from thereon has a week to file its rejoinder, post which the matter will be listed.

Last week, Ericsson filed its second contempt petition in the Supreme Court against Reliance Communications’ Chairman Anil Ambani, asking that he be detained in civil prison and be barred from travel overseas unless he ensures payment of Rs 550 crore owed to the Swedish company.

Ambani had given a personal guarantee in the court, backing prompt payment of Rs 550 crore to Ericsson . The petition was filed after RCom missed both its payment dealdines-September 30 and December 15.

On Monday, RCom said it had deposited a "partial payment of Rs 131 crore to Ericsson with the SC registry from the operational funds available with the company". "RCom has taken all required steps towards enabling the settlement and remains fullycommitted to make the payment to Ericsson from the proceeds of the Spectrum sale," said the telco in a regulatory filing.

Rcom under a debt of RS 46,000 crore plans to sell its assets to Jio and Canadian firm Brookfield for Rs 18,000 crore and is awaiting clearance from the Department of Telecommunications (DoT). Once the no-objection certificate comes in, RCom said it will be able to exit insolvency, pay deferred spectrum liabilities to DoT amounting to Rs 10,900 crore and pay lenders Rs 38,000 crore.

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