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Tech Mahindra withdraws case against Rcom

The discussions are on as to how much will the telco pay said people familiar with the matter. Tech Mahindra  (Tech M) withdrew its case against  Reliance Communications (Rcom) from the National Company Law Tribunal ( NCLT ) on Thursday saying parties are looking at a settlement The discussions are on as to how much will the telco pay said people familiar with the matter. Tech Mahindra (Tech) had filed a petition for recovery of Rs 8.2 crore from the Anil Ambani-owned telco and its two units a few days after RCom’s proposed merger with Aircel was called off. RCom had earlier in a regulatory filing, said the quality of service and amounts billed are disputed and termed the petitions as “misconceived, premature and motivated by extraneous considerations.” The Anil Ambani company said “the claim amount is not considered material by the respective companies concerned.” The telco is struggling under a debt of Rs 45000 crore. “We wish to inform you that T...