RCom's insolvency put on hold after settlement with Ericsson
The National Company Law Appellate Tribunal has put Anil Ambani-led Reliance Communications' insolvency proceedings on hold and allowed banks to complete sale of the company's tower assets to Reliance Jio. This comes after RCom and Ericsson agreed to settle a dispute over unpaid dues. Ericsson will get a payment of â¹550 crore from RCom within 120 days.