Ericsson allowed to file objection over RCom insolvency plea

The National Company Law Appellate Tribunal (NCLAT) on Monday allowed telecom equipment maker Ericsson India to file its objection over Reliance Communications' (RCom) plea to proceed with insolvency process. This comes after RCom moved NCLAT to withdraw its appeal to settle Ericsson's dues to pursue a debt resolution plan in NCLT. RCom shares fell 35% after the firm approached NCLT.