Stalemate over RCom-RJio deal continues; NCLAT adjourns hearing

DoT refused to give NOC as Jio wanted assurances over past dues

The stalemate over Reliance Communications’ pending dues to Ericsson India, and the subsequent insolvency fear continued on Wednesday as the National Company Law Appellate Tribunal (NCLAT) adjourned hearing in the matter to January 22 in view of the case pending before Supreme Court.

On December 14, the Department of Telecommunications (DoT) had told the top court that it would issue a No Objection Certificate (NOC) to RCom for the spectrum sale within 2 days provided the company’s arm Reliance Realty did not sell the “preference shares that are reflected in the financial statement of 2017-2018”. On its part, RCom had assured