Ericsson won’t accept settlement from RCom without SC direction

Mumbai: Swedish telecom gear maker Ericsson will not accept any settlement offer by Reliance Communications (RCom), unless directed by the Supreme Court, people familiar with the matter said. The stance comes post the debt-laden telco’s offer to make payments using income tax refunds to the company.

“RCom lawyers had said they are willing to give Rs 129 crore, which is an income tax refund, and another forthcoming refund of Rs 134 crore. This was over and above Rs 118 crore that has been deposited with the Supreme Court registry earlier,” said Anil Kher, senior advocate representing Ericsson, on the option given by RCom in the top court this week.

“However, Ericsson did not respond to this suggestion and left it to the decision of the court,” the senior counsel said.