Anil Ambani to pay Rs 453 crore or face Jail in Ericsson case
NEW DELHI: The Indian Supreme Court on Wednesday found Industrialist Anil Ambani guilty of contempt for not paying dues to Ericsson AB, saying that the chairman of the Reliance Group will face a jail term if he doesn't pay Rs 453 crore to Swedish telecom equipment maker within four weeks.
The apex court
has given Reliance Communications Ltd four weeks to clear the Rs 550-crore dues
to Ericsson, which once supplied telecom network equipment to them. The court
also said Ambani will face three months in prison if he fails to
clear dues.
The
court tore into the 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 broken their oath," the court aforementioned, line it
"willful disobedience" of its order that they must repay Swedish telecommunication
equipment maker Ericsson.
In a statement, a Reliance Communication restricted interpreter said: "We respect the Supreme Court judgement. The RCOM group shall accommodates with similar."
In a statement, a Reliance Communication restricted interpreter said: "We respect the Supreme Court judgement. The RCOM group shall accommodates with similar."
Anil Ambani to pay Rs 453 crore or face Jail in Ericsson case
Reviewed by Every News
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February 21, 2019
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Reviewed by Every News
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February 21, 2019
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