NCLAT declines RCom’s appeal for Rs 577 crore refund from Ericsson

The NCLAT on Wednesday declined RCom’s resolution professional’s plea seeking refund of Rs 577 crore from Swiss firm Ericsson, and directed the RP to approach the Mumbai-bench of NCLT for the same. Reliance Communications is presently going through the Corporate Insolvency Resolution Process under the supervision of the Mumbai-bench of National Company Law Tribunal.
The RP had filed and interim application with the NCLAT, contending that Ericsson, which is only an operational creditor of the company, should return the money paid by it, as RCom is now under the resolution process.
However, a two-member NCLAT-bench headed by Chairperson Justice S J Mukhopadhaya asked that the RP may raise all arguments for refund of money begfore the NCLT.