The Reliance Communications Group today terminated its asset sales pact with Reliance Jio with mutual consent, a BSE release said.Both the companies had entered into an agreement for sale of RCom’s assets in December 2017 as the Anil Ambani company struggled with massive debt on its books. The deal was expected to cut RCom’s debt.The release cited a number of reasons behind the annulment of agreement. The reasons cited are: Non-receipt of consents / objections from RCOM’s over 40 foreign and Indian lenders, non-receipt of requisite permissions and approvals from DoT, the decision taken by RCom to seek resiolution of its debt woes through the bankruptcy code via NCLT among others.RCom today staved off a major crisis by paying Ericsson its dues thereby saving Anil Ambani from a three-month jail term. RCom said that it is committed to resolve its debt troubles through the NCLT process. The NCLAT will next hear the matter on April 8, 2019.