India’s bankruptcy appeals court defers hearing of Reliance Communications case

Vastavam web: India’s bankruptcy appeals court delayed a hearing of Reliance Communications’ (RCom) plea seeking to overturn insolvency proceedings against the company to Wednesday.The National Company Law Appellate Tribunal’s (NCLAT) move comes after local television stations reported that RCom had offered to pay 5 billion rupees to the Swedish telecom gear maker Ericsson, which had dragged the Indian telecom company into bankruptcy courts.The NCLAT has given RCom time until Wednesday to reach a settlement with Ericsson, the CNBC TV18 and ET Now channels reported.