The National Company Law Appellate Tribunal (NCLAT) on Wednesday recalled its previous order which allowed debt-ridden Reliance Communications to proceed with the sale of its tower and fibre assets.

The sale of these businesses form an important part of the overall Rs 250 billion asset monetisation blueprint of the troubled company.

The top court order effectively halts the RCom-Jio deal worth Rs25,000 crore to the extent of sale of tower and fibre assets.

The matter was mentioned before a bench comprising Justices Adarsh Kumar Goel and Rohinton F. Nariman. The case will be heard on 19 April.

The National Company Law Tribunal had prevented RCom from selling any asset without its permission, following a legal challenge from Swedish telecoms gear maker Ericsson, seeking payment of unpaid dues of Rs 11.55 billion ($177.7 million) by RCom and two of its units.

A two-judge bench headed by Justice A.K. Goel asked the parties to approach the National Company Law Appellate Tribunal (NCLAT) in accordance with law.

RCom said its bond holders have also accepted part pre-payment through bonds that were due to mature in 2020.

Holders of the debt-laden telecom operator's $300 million bonds have also approved the monetisation of other real-estate assets, RCom said in a statement.

“@CCI_India approves acquisition of RCOM’s towers, optic fiber cable, right to use spectrum and media convergence nodes by RJIO,” the anti-trust regulator tweeted.

"The company has filed an appeal before the Hon'ble Bombay High Court to protect the interest of the secured lenders," said the telecom company in a statement to the stock exchanges late Tuesday evening.