\tEricsson launched legal action against the State Bank of India (SBI) and filed another contempt petition on Reliance Communications (RCom) chairman Anil Ambani, expanding a row with the Indian operator over unpaid service charges.<\/p>\n
The vendor, which has been embroiled in a lengthy legal row with RCom over more than $70 million in unpaid dues, filed a contempt petition against the chairman of SBI, which was the lead banker in an RCom asset monetisation plan designed to pull it out of debt.<\/p>\n
Ericsson said in a filing to the Supreme Court that the bank had not fulfilled its assurances of settling RCom\u2019s dues to the Swedish equipment vendor.<\/p>\n
Freeze assets
\nFollowing news that RCom had begun insolvency proceedings [1] with Indian authorities after failing to sell assets required to settle its debts, Ericsson has also reportedly filed a third contempt petition against Ambani.<\/p>\n
A source told The Economic Times Ericsson has requested the Supreme Court freeze Ambani’s personal assets and prevent him leaving the country, following “multiple” breaches of court orders.<\/p>\n
Ericsson has previously called for Ambani to be arrested.<\/p>\n
The row between Ericsson and RCom deepened after the operator missed a series of court extensions to settle its debt.<\/p>\n
Last month, RCom made a partial payment [2] and said it would pay the full amount after the completion of the sale of assets.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/rcom-to-begin-insolvency-proceedings\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/rcom-makes-18-6m-payment-to-ericsson\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Ericsson launched legal action against the State Bank of India (SBI) and filed another contempt …<\/p>\n
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