NEW DELHI: State-owned telecom company BSNL will approach National Company Law Tribunal this week to recuperate dues of about Rs 700 crore from Reliance Communications, in keeping with legit resources.
Earlier, debt-ridden RCom in its plea sooner than the NCLAT said that it desires to voluntarily return into the insolvency process, as it is going to help promoting its assets in a time certain means.
It had moved the appellate tribunal, seeking instructions to the 37 lenders led via SBI to liberate Rs 260 crore at once to Ericsson. However, lenders of RCom have hostile the plea, announcing that it is going to result in outgo of public money for settling fee of a non-public celebration.
"BSNL has aready invoked bank guarantee of around Rs 100 crore submitted by RCom for default on payments. Decision was taken on January 4 by BSNL chairman and managing director Anupam Shrivastava to start legal proceedings against RCom for recovery of dues of around Rs 700 crore," the resources instructed PTI.
BSNL has roped in Singh and Kohli legislation company for the go well with. The case submitting were given not on time due to choice of invoices from all circle places of work.
RCom has been struggling to pay Rs 453 crore out of Rs 550 crore to Ericsson below a agreement reached between the two firms sooner than NCLAT.
The Supreme Court has given time until March 19 to RCom Group to make fee to Ericsson, failing which its chairman Anil Ambani should serve three month jail term.
RCom has already paid Rs 118 crore to Ericsson. It approached the NCLAT to direct SBI to liberate Rs 260 crore which the company has won as source of revenue tax refund in accept as true with and retentionship account held at the public sector financial institution as it is going to help company in making fee to Ericsson and purge contempt of court docket.
The NCLAT on Friday declined to factor any direction to SBI and has requested for update on development in regards to fee of Ericsson due on March 19. The tribunal will listen the case on April 8.
Earlier, debt-ridden RCom in its plea sooner than the NCLAT said that it desires to voluntarily return into the insolvency process, as it is going to help promoting its assets in a time certain means.
It had moved the appellate tribunal, seeking instructions to the 37 lenders led via SBI to liberate Rs 260 crore at once to Ericsson. However, lenders of RCom have hostile the plea, announcing that it is going to result in outgo of public money for settling fee of a non-public celebration.
"BSNL has aready invoked bank guarantee of around Rs 100 crore submitted by RCom for default on payments. Decision was taken on January 4 by BSNL chairman and managing director Anupam Shrivastava to start legal proceedings against RCom for recovery of dues of around Rs 700 crore," the resources instructed PTI.
BSNL has roped in Singh and Kohli legislation company for the go well with. The case submitting were given not on time due to choice of invoices from all circle places of work.
RCom has been struggling to pay Rs 453 crore out of Rs 550 crore to Ericsson below a agreement reached between the two firms sooner than NCLAT.
The Supreme Court has given time until March 19 to RCom Group to make fee to Ericsson, failing which its chairman Anil Ambani should serve three month jail term.
RCom has already paid Rs 118 crore to Ericsson. It approached the NCLAT to direct SBI to liberate Rs 260 crore which the company has won as source of revenue tax refund in accept as true with and retentionship account held at the public sector financial institution as it is going to help company in making fee to Ericsson and purge contempt of court docket.
The NCLAT on Friday declined to factor any direction to SBI and has requested for update on development in regards to fee of Ericsson due on March 19. The tribunal will listen the case on April 8.
BSNL to approach NCLT this week against RCom to recover Rs 700 crore
![BSNL to approach NCLT this week against RCom to recover Rs 700 crore]()
Reviewed by Kailash
on
March 17, 2019
Rating:
