RCom asks lenders to release ₹260 crore directly to Ericsson

Reliance Communications on Thursday said it has requested "urgent approval" from lenders to release ₹260 crore received as Income Tax refunds directly to telecom equipment maker Ericsson. The Anil Ambani-led company had earlier deposited ₹118 crore with the Supreme Court. Ambani faces a 3-month jail term if RCom doesn't clear Ericsson's dues of ₹550 crore with interest in 4 weeks.