Reliance Communications has been given the go-ahead to sell off its wireless business unit after National Company Appellate Law Tribunal removed an order blocking the sale.
The NCLAT had blocked the sale of the wireless assets due to various legal challenges, including one from Ericsson.
The Swedes claimed RCom had not paid it for equipment and services for two years, and instead tried to pull a fast one by issuing a few post-dated cheques.
After this obstruction has been lifted, RCom is now free to offload the unit to Reliance Jio.
“As directed by the Hon’ble Supreme Court, RCom moved the Hon’ble NCLAT today for vacation of the stay in relation to sale of its tower and fiber assets” a RCom statement reads.
“The Hon’ble SC had itself vacated the stay in relation to spectrum, MCNs and real estate yesterday.