Dues Settlement Row: RCom Accuses Ericsson Of Media Trial And Working Against Other Lenders’ Interests 

Anil Ambani-led Reliance Communications (RCom), on Sunday (6 January) accused Ericsson of trying to hold media trials and sensationalising their dispute, the Economic Times reports.

RCom, which owes the Swedish equipment maker Rs 550 crore in spectrum realisation dues, said that Ericsson was an “operational unsecured creditor” of the company and they were putting at risk the interests of even secured lenders.

An RCom spokesperson said, "It is deeply regrettable that Ericsson India Private Limited (Ericsson), an operational unsecured creditor, is attempting a trial by media and sensationalising issues, as evidenced in recent media reports”.

On Friday (4 January), Ericsson India urged the Supreme Court to initiate contempt proceedings against RCom Chairman Anil Ambani, for not clearing dues for the second time.

Further, Ericsson wants to ensure Reliance Telecom Ltd Chairman Satish Seth and Reliance Infratel Ltd Chhaya Virani are "detained in civil prison" unless they made the payment and asked the Ministry of Home Affairs to stop Anil Ambani from leaving the country.

The RCom spokesperson also denied reports of being served with notice on Ericsson’s recent contempt petition. He further alleged that Ericsson was sharing the information to the media and causing issues.

"Needless to say, the Hon'ble Supreme Court has not even considered the matter till date. Ericsson's conduct as an unsecured creditor gravely endangers matters and is at the cost of secured lenders comprising 38 banks and secured creditors including 17 public sector banks and 13 foreign banks," the spokesperson adds.

RCom has also said that it has taken the necessary steps to enable the settlement and is still completely committed to clear its dues with Ericsson from the spectrum sale.