On 8th April, the National Company Law Appellate Tribunal (NCLAT) said Ericsson, the Swedish equipment maker may have to refund upto Rs 576 crore. The amount includes interest charges too. The refund must be made to Reliance Communications if the insolvency proceedings against the RCom gets revived.
With the total record of RCom debt of over Rs. 46,000 crore, Rcom was asked to scrap its wireless assets sale to Reliance Jio, owned by Mukesh Ambani.

Last month in February 2019, the Anil Ambani-owned telco had approached the National Company Law Appellate Tribunal (NCLAT) to withdraw the appeal.
The appeal was filed last year for a stay on an insolvency petition against RCom admitted by the National Company Law Tribunal (NCLT). However, giving no reaction to Ambani's appeal, the court continued its proceedings of RCom paying Ericsson Rs 550 crore approx. as a settlement amount.

Justice Mukhopadhyay, speaks on the dismissal of RCom's appeal. The reason for it is that the court wants financial creditors to get preference to get any funds from RCom. The present creditor like Ericsson would get priority.

One of the Ericsson's representatives disclosed that they had received their dues along with interest through RCom. The company now wants to withdraw the insolvency petition against the telco. However, the case is yet to be heard from the Supreme Court. It has been recorded that RCom cleared its due payment in the span of 18 months to Ericsson.