Pay Ericsson Rs 453 crore or face jail: Supreme Court to Anil Ambani




NEW DELHI: Observing there was a ‘wilful default’, the Supreme Court on Wednesday held Anil Ambani, chairman of Reliance Communication(RCom), guilty of contempt of court and ordered the debt-laden company to clear the Rs 453 crore dues to Swedish telecom equipment maker Ericsson within four weeks or face a 3-month jail term.

In a verdict that came as a setback to Ambani, the apex court also pulled up the industrialist for his “cavalier attitude” demonstrated through the affidavit filed in the court and said any “unconditional apology” given must be rejected.

Besides Ambani, the court held Reliance Telecom Ltd chairman Satish Seth and Reliance Infratel Ltd Chhaya Virani as well as their three companies guilty of contempt of court,

“The RCom group is directed to purge the contempt of this Court by payment to Ericsson the sum of Rs 453 crore within a period of four weeks from today. In default of such payment, the Chairmen who have given undertakings to this Court will suffer three months imprisonment,” said a bench of Justices R F Nariman and Vineet Saran.

Source: Press Trust of India

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