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Debt-laden Reliance Communications (RCom) which had secured an interim relief from Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Monday, has termed a petition by Ericsson ‘unwarranted’.
The Swedish telecom equipment-maker Ericsson has filed a contempt-of-court petition in the Supreme Court against RCom after it failed to pay ₹550 crore before a September 30 deadline. On Friday, RCom moved the Supreme Court praying for a 60-day extension to pay Ericsson.
“Multiple hearings have taken place in the matter since August 28, 2018, and TDSAT has announced interim relief on October 1, 2018. The copy of the order passed is however, still awaited and expected shortly,” RCom said in a regulatory filing, adding the “this filing is unwarranted”.
The plea is coming up for hearing on October 4.
A separate case filed before National Company Law Appellate Tribunal (NCLAT) is slated to come up for hearing on October 3.
“The extension has been sought purely due to the fact that, as approved by 38 secured lenders, and as per RCom’s undertaking, Ericsson is to be paid from the sales proceeds of spectrum being traded by RCom, and such sale could not be completed as yet owing to factors beyond the control of RCom,” it said.
RCom informed the regulator that the payment to Ericsson is to be made from the proceeds of the asset sale to Reliance Jio Infocomm (RJio), and the delays have led to Ericsson not being paid yet.
DoT’S demand
Separately, the Department of Telecommunications (DoT) has also sought securitisation of ₹2,900 crore for Spectrum Usage Charges from the Anil Ambani company.
RCom had also filed an application for approval of its assets sale with DoT on August 7. However, the licensor has “unjustly” sought securitisation demands for SUC amounting to ₹2,900 crore.
RCom has also challenged this demand before TDSAT, which is coming up for hearing on October 4.
Sources close to the development said at the hearing on Monday, TDSAT had informed DoT that spectrum trading deals should not be held back on account of any ongoing disputes related of bank guarantees.
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