March 8, 2018 / 10:21 AM / Updated 2 hours ago

Indian court dismisses RCom's appeal against arbitration order

(Reuters) - An Indian court has dismissed Reliance Communications Ltd’s (RCom) plea against an arbitration court order that barred the telecom operator from selling or transferring its assets without the tribunal’s permission.

FILE PHOTO: A worker cleans a mobile store of Reliance Communications Ltd, controlled by billionaire Anil Ambani, in Kolkata, India, September 10, 2016. REUTERS/Rupak De Chowdhuri/File Photo

The company intends to file an appeal against the interim order of the Bombay High Court, an RCom spokesman said in an emailed statement to Reuters.

The court threw out three appeals from Rcom and its two companies, the Economic Times reported earlier.

Debt-laden Rcom had appealed against the interim order in a case filed by Ericsson seeking payment of unpaid dues.

“The claims of secured financial lenders stand higher in priority as compared to Ericsson, which is an unsecured operational vendor. Further, the sale of assets is being undertaken in pursuance of the decisions of the secured financial lenders,” the spokesman said.

Reporting by Vishal Sridhar in Bengaluru; Editing by Gopakumar Warrier