India’s National Company Law Tribunal has reportedly admitted three insolvency petitions filed by Ericsson against debt-laden Reliance Communications, which could threaten the operator’s plan of selling its wireless assets to Reliance Jio Infocomm.
The tribunal’s dedicated bankruptcy court has admitted the three petitions nearly eight months after Ericsson filed an NCLT plea seeking to recover 11.5 billion rupees ($169.5 million) in unpaid dues, the Economic Times reported.
According to the report, Ericsson will now be asked to suggest the name of an interim resolution professional that...
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