Supreme Court of India has ordered Anil Ambani-led RComm to cough up Rs 453 crore to resolve unpaid issues. In case of failure of this payment within four weeks, Anil Ambani can face imprisonment. Samanwaya Routray explains the details of the judgement.
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Watch Ambani in Ericsson soup- SC orders payment of dues else jail for Anil With HD Quality.
Supreme Court of India has ordered Anil Ambani-led RComm to cough up Rs 453 crore to resolve unpaid issues. In case of failure of this payment within four weeks, Anil Ambani can face imprisonment. Samanwaya Routray explains the details of the judgement.
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Watch Ambani in Ericsson soup- SC orders payment of dues else jail for Anil With HD Quality
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Reliance Communications (RCom) has completed paying Swedish telecom gear maker Ericsson nearly Rs 580 crore, thereby ensuring the telco’s chairman Anil Ambani does not go to jail. With Monday’s payment of Rs 462 crore, the debt-laden telco ends its 18-month long battle with Ericsson which had claimed dues for its maintenance services. The deadline for RCom to make the payment was March 19, failing which Anil Ambani would have had to serve a jail term of three months.
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Watch Ericsson case- Clear dues or face jail, Supreme Court tells Anil Ambani With HD Quality
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Watch SC holds Anil Ambani guilty of contempt, orders RCom to pay Ericsson With HD Quality
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Reliance Communications chairman Anil Ambani confirmed that the telco has repaid Swedish telecom gear maker Ericsson its dues and thanked his brother Mukesh Ambani and his sister-in-law Nita Ambani for the 'timely support'. 'My sincere and heartfelt thanks to my respected elder brother, Mukesh, and Nita, for standing by me during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support. I and my family are grateful we have moved beyond the past, and are deeply touched with this gesture,' said a company spokesperson in a statement sent to the media.
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The Supreme Court on Monday sought the response from Reliance Communications (RCOM) Chairman Anil Ambani on a contempt plea by telecom company Ericsson for its failure to pay outstanding dues of about Rs 550 crore.
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Reliance Communication (RCom) Chairman Anil Ambani on Wednesday told the Supreme Court the Rs 550 crore dues could not be paid to Ericsson in pursuance to the undertaking as its Rs. 18,100 crore deal with the Reliance Jio did not fructify. Asserting that he was not in the contempt of court for not clearing the dues, the RCom Chairman said the undertakings were conditional and the payment was subject to the deal with Jio going through.
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Watch Ericsson's contempt plea- SC reserves order against Anil Ambani With HD Quality
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In a big setback for Anil Ambani, the Supreme Court today held Reliance Group chairman and its two directors guilty of contempt in pleas filed by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore. Court asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term.
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Watch Ericsson case- SC holds Anil Ambani guilty of contempt, to be jailed if he fails to pay Rs 453 crore With HD Quality
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