The Supreme Court on Wednesday held Reliance Communication Chairman Anil Ambani guilty of contempt and said he will go to jail for 3 months if he doesn’t pay Rs 450 crore to Ericsson.
Supreme Court said that Anil Ambani and two other directors have to pay Rs 453 crore to Ericsson India within 4 weeks and if they fail to pay the amount they will be given a jail term of three months. SC also imposed a fine of Rs 1 crore each on them. If the fine is not deposited within a month they will be awarded a jail term on one month.
The other individuals are directors of Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani.
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The Supreme Court was pronouncing its verdict on three contempt applications filed by telecom equipment maker Ericsson against Reliance Group chairman Anil Ambani and others for not clearing dues.
A bench of Justices RF Nariman and Vineet Saran on February 13 reserved its judgement when Ericsson India had alleged that the Reliance Group has money to invest in the Rafale jet deal, but they were unable to clear its Rs 550 crore dues, a charge which was vehemently denied by the Anil Ambani-led company.
On October 23, last year, the apex court had asked RCom to clear the dues by December 15, 2018, saying delayed payment would attract an interest of 12 per cent per annum.
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