RCom wants Ericsson to refund close to Rs 580 crore

MUMBAI: Reliance Communications has asked Ericsson to refund Rs 579.74 crore that the bankrupt telco had paid it, saying the Swedish telecom equipment maker had to be treated on a par with other operational creditors. It also said the money paid must be returned because the insolvency resolution process that Ericsson had initiated against RCom had resumed.
The demand may resurrect a legal battle and delay the insolvency process, given that the payment by RCom was made on Supreme Court’s directions.
“Ericsson should not be allowed treatment which is any different than the treatment that shall be accorded to the other operational creditors… either in terms of a resolution plan subsequently approved, or, in the event of liquidation,” Deloitte, the resolution professional overseeing the telco’s affairs, said in a letter to Ericsson last week.

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