RCom seeks lenders’ approval to release Rs 260 cr to Ericsson

Beleaguered telecom operator Reliance Communications (RCom) has sought “urgent” approval from its lenders to release about Rs 260 crore lying with it to Ericsson.

RCom said in a statement, it had received the Rs 260 crore from Income Tax refunds, which has been lying in its bank account.

It had earlier deposited Rs 118 crore with the Supreme Court, it added.

“RCom is confident of raising the balance about Rs 200 crore for payment to Ericsson, in order to ensure that the entire Rs 550 crore, plus interest thereon, stands paid to Ericsson, well within the time of four weeks allowed by the Supreme Court,” it added.