Anil Ambani’s RCom pays of dues worth Rs 459cr to Ericsson

Mangalore Today News Network

Mumbai, Mar 18, 2019 : Reliance Communications has paid Rs 458.77 crore to Ericsson India as per the Supreme Court’s directive, after the court had held chairperson Anil Ambani and two directors guilty of contempt of court for wilfully not paying Rs 550 crore to the latter, PTI reported quoting sources, Yahoonews reported.

 

The Supreme Court, on 20 February, had held Reliance Communications in contempt and said Ambani and two directors have to pay Rs 453 crore to Ericsson India within four weeks.

A three-month jail term would have followed if they had failed to pay the amount within the time period assigned, the bench comprising Justices RF Nariman and Vineet Saran had said.

The two directors who had been held guilty of contempt are Reliance Telecom Chairperson Satish Seth and Reliance Infratel Chairperson Chhaya Virani.

The apex court had also directed Reliance Telecom and Reliance Infratel to pay Rs 1 crore each in four weeks to the apex court’s registry or the chairperson would have to serve an additional jail term of one month.

It had directed that the Rs 118 crore already deposited by the Reliance Group in the apex court’s registry be disbursed to Ericsson.

The apex court had also specified that any unconditional apology given by Reliance needs to be rejected as they have breached the undertaking and the order.