The National Company Law Tribunal (NCLT) has admitted three insolvency petitions filed against RCom and its subsidiaries by Ericsson

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The National Company Law Tribunal (NCLT) has admitted three insolvency petitions filed against RCom and its subsidiaries by telecom gear maker Ericsson to recover ₹1,150 crore in dues.  RCom now cannot sell any of its assets till the case is heard, jeopardising the bailout deal with Mukesh Ambani’s Reliance Jio. Under the deal, RJio was to acquire RCom’s mobile network and fixed-line assets. But the bankruptcy proceedings do not leave RCom with any option.

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