Insolvency proceedings against the Anil Ambani-company will now restart at the National Company Law Tribunal (NCLT), Mumbai. R-Com in May last year had filed a petition before the NCLAT against an NCLT order on a plea by Ericsson. Mukhopadhaya had observed that if insolvency proceedings against R-Com were allowed, Ericsson would have to return Rs 550 crore. It added either it may quash R-Com bankruptcy proceedings in the NCLT or allow the bankruptcy case to proceed. R-Com in early February had announced it had decided to opt for insolvency proceedings following its failure to sell assets to pay back its lenders.

Source: The Telegraph April 30, 2019 19:18 UTC