New Delhi: Industrialist Anil Ambani was held guilty of contempt this morning by the Supreme Court, which said he will go to jail for three months if he doesn’t pay Rs. 453 crore to Ericsson India within four weeks.
The Court tore into Reliance Communications Chairman for what it called a “cavalier attitude” and fined him and two of his Directors Rs. 1 crore each. “Anil Ambani and others breached their undertaking,” the Court said, calling it “wilful disobedience” of its order that they should repay Swedish Telecom Equipment maker Ericsson.
The Supreme Court ruled that Rs. 180 crore already deposited by Reliance Group in the Court registry be given to Ericsson. It also said any unconditional apology given by Reliance needs to be rejected as they had “breached the undertaking and order.”
In a statement, a Reliance Communication Limited spokesperson said: “We respect the Supreme Court judgement. The RCOM Group shall comply with the same.”
Ericsson India signed a seven-year deal with RCOM in 2014 to manage and operate its network. Last year, it went to the Supreme Court against Anil Ambani’s company over unpaid dues of Rs. 550 crore.
This post was published on February 20, 2019 6:34 pm