April 5, 2018 / 9:38 AM / in a year

India's RCom says top court lifts ban on assets sale

April 5 (Reuters) - Debt-laden telecoms firm Reliance Communications Ltd (RCom) said on Thursday that India’s Supreme Court has lifted a ban on sale of its assets, and has ordered secured lenders to proceed with the sale.

RCom also said it will file an appeal before the National Company Law Appellate Tribunal (NCLAT) on Friday.

The company is "confident of securing appropriate relief from the NCLAT to enable sales of tower and fibre assets to also be completed at the earliest," it said in a statement bit.ly/2q6iJOp.

The National Company Law Tribunal had halted RCom from selling any asset without its permission, following a legal challenge from Swedish telecoms gear maker Ericsson. (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Biju Dwarakanath)

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