Ericsson India had earlier tried to block a deal for merger of Reliance Communications with Aircel. NSEBSEReliance communicati…Loading data…
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ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIES Ericsson India on Wednesday filed an insolvency case against Reliance Communication, TV channels reported. Ericsson India is an operational creditor of RCom and has been fighting to retrieve its dues.
Shares of Reliance Communication slipped nearly 5 per cent to Rs 21 in Mumbai trade at 3 pm on Wednesday, even as the broader market notched up solid gains. The BSE Sensex was up 0.11 per cent at 32,192.
Ericsson India had earlier tried to block a deal for merger of Reliance Communications with Aircel. But the National Company Law Tribunal (NCLT) in August set aside the objection raised by Ericsson India and passed an order allowing the deal.