Read more at
NEW DELHI: An appellate tribunal has refused to direct State Bank of India and other lenders to Reliance Communications to release Rs 260 cr of tax refunds, held in a trust fund, to pay the telco’s dues to Ericsson.
The order passed by National Company Law Appellate Tribunal (NCLAT) on Friday is a setback for RCom, which must pay the Swedish telecom gear maker its remaining dues of Rs 453 crore by Tuesday to ensure its chairman Anil Ambani doesn’t go to jail.