BSNL dues call to Reliance Communications

State-owned telecom firm BSNL will approach the National Company Law Tribunal this week to recover dues of about Rs 700 crore from Reliance Communications, according to official sources.

Earlier, debt-ridden R-Com in its plea before the National Company Law Appelate Tribunal (NCLAT) said that it wanted to voluntarily go back into the insolvency process as it would help to sell its assets in a time-bound manner.

It had moved the appellate tribunal, seeking directions to the 37 lenders led by the SBI to release Rs 260 crore directly to Ericsson. However, the lenders of R-Com have opposed the plea, saying it will lead to an outgo of public money for settling the payment of a private party.