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SC Holds Anil Ambani Guilty Of Contempt, Says Pay Rs 453 Cr To Ericsson Or Go To Jail

The contempt plea was filed against Ambani, Reliance Telecom chairman Satish Seth, Reliance Infratel chairperson Chhaya Virani and SBI chairman.

SC Holds Anil Ambani Guilty Of Contempt, Says Pay Rs 453 Cr To Ericsson Or Go To Jail
SC Holds Anil Ambani Guilty Of Contempt, Says Pay Rs 453 Cr To Ericsson Or Go To Jail
outlookindia.com
2019-02-20T12:06:29+0530

The Supreme Court on Wednesday held Reliance Group chairman Anil Ambani and two directors guilty of contempt in pleas filed by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore. The top court has asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term.

The court also imposed a fine of Rs 1 cr each one of them, if not deposited within a month, 1-month jail will be awarded.

A bench comprising of Justices RF Nariman and Vineet Saran said if the contemnor failed to make the payments within the specified period, they they will undergo a jail term of three months.

The apex court also directed Reliance Telecom and Reliance Infratel to pay Rs 1 crore each in four weeks to the apex court's registry or the chairman will have to go additional jail term of one month.

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

"From the undertakings given by Reliance Group's top brass, it appears they have wilfully not paid the amount to Ericsson despite orders," it said.

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

(With inputs from agencies)

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