Reliance Communications (RCOM) has requested urgent approval from its lenders to release approximately Rs 260 crore received from Income Tax refunds, lying in its bank account, directly to Ericsson. A sum of Rs 118 crore has already been deposited with the Supreme Court.
RCOM is confident of raising the balance approximately Rs 200 crore for payment to Ericsson, in order that the entire Rs 550 crore plus interest thereon stands paid to Ericsson well within the time of 4 weeks allowed by the Supreme Court.
RCOM is India’s foremost and truly integrated telecommunications service provider.
