Anil Ambani-led Reliance Communications (RCom) on Tuesday said it will pay Rs 500 crore to Ericsson as the debt-laden firm tries to resolve issues related to unpaid dues outside of the insolvency and bankruptcy proceedings.

Ericsson, which signed a seven-year deal in 2014 to operate and manage RCom’s nationwide telecoms network, is seeking Rs 1,150 crore from RCom and two of its subsidiaries.

This comes after India’s bankruptcy court, earlier this week, admitted a plea by the Swedish telecom gearmaker seeking insolvency resolution against RCom over service dues.

RCom had moved to National Company Law Appellate Tribunal (Nclat) along with its two subsidiaries – Reliance Telecom and Reliance Infratel to stay the order passed by the Mumbai bench of the National Company Law Tribunal on May 15.

Nclat has given RCom time till Wednesday afternoon to arrive at a settlement with Ericsson.

RCom, controlled by wealthy businessman Anil Ambani, is the most-leveraged of all listed telecoms carriers in India. The company had a debt totalling Rs 45,700 crore at end-March 2017.