Anil Ambani Found Guilty Of Contempt; Will Be Jailed If He Fails To Pay ₹453 crore to Ericsson

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 ₹550 crore

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The Supreme Court has held Anil Ambani's Reliance Communication guilty of contempt of court. The Supreme Court said three reliance companies had no intentions to adhere to the instructions given by it.

The court rejected an unconditional apology submitted by Reliance Communications and has ordered Reliance Communications to pay ₹453 crore to Ericsson in addition to the ₹118 crores that they were supposed to pay.

The amount should be paid within a month, the court said. In case the firm defaults, Anil Ambani will face imprisonment for three months.

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 ₹550-crore dues, a charge which was denied by the Ambani-led company.

Anil Ambani told the apex court that with the failure of its assets sale deal with elder brother Mukesh Ambani-led Reliance Jio, his company has entered insolvency proceedings and is not in control of the funds. 

Reliance Communications (RCom) had told the court they had tried to move "heaven and earth" to ensure Ericsson gets its due but was unable to do so due to failure of assets sale deal with Reliance Jio.

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