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Rel Comm asks lenders to release $36.6 mn directly to Ericsson

India’s Reliance Communications (RCom) said on February 21 that it has urged its lenders to allow the release of Rs 2.60 billion ($36.55 million) directly to telecom equipment maker Ericsson.

RCom said that it had received the sum as income tax refunds and is lying in its bank account.

The Supreme Court on February 20 found Anil Ambani, chairman of debt-laden Reliance Communications, guilty of contempt of court for willfully failing to pay Rs 5.5 billion to Ericsson.

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