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|21 February, 2019

India's Reliance Communications asks lenders to release $36.6mln directly to Ericsson

India's Supreme Court on Wednesday found Anil Ambani guilty of contempt of court

A man opens the shutter of a shop painted with an advertisement of Reliance Communications in Mumbai, India, November 3, 2015.

A man opens the shutter of a shop painted with an advertisement of Reliance Communications in Mumbai, India, November 3, 2015.

REUTERS/Shailesh Andrade

India's Reliance Communications (RCom) said on Thursday it has urged its lenders to allow release of 2.60 billion rupees ($36.55 million) directly to telecom equipment maker Ericsson.

RCom said it had received the sum as income tax refunds and is lying in its bank account.

India's Supreme Court on Wednesday found Anil Ambani, chairman of debt-laden Reliance Communications, guilty of contempt of court for wilfully failing to pay 5.5 billion rupees to Ericsson

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($1 = 71.1410 Indian rupees)

(Reporting by Krishna V Kurup in Bengaluru; Editing by Shreejay Sinha) ((Reuters Messaging: Krishna.VKurup@thomsonreuters.com ; +91 80 6749 1310; Reuters Messaging: Krishna.VKurup.thomsonreuters.com@reuters.net))

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