India's Reliance Communications Ltd said on Monday it has moved the National Company Law Appellate Tribunal (NCLAT) to withdraw its appeal to settle dues with Ericsson so as to pursue a debt resolution plan via the National Company Law Tribunal.
The NCLAT has asked Swedish telecom equipment maker to file its reply regarding the matter by 8 Feb and has scheduled a hearing for 12 Feb, the company said.
NCLAT has prohibited the debt-laden company's guarantors and any third party from invoking any guarantee, mortgage or to sell any assets without its or the Supreme Court's permission, RCom said.
*Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.