Big setback for RCom: Supreme Court holds Anil Ambani guilty of contempt in Ericsson default case
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In a major setback, the Supreme Court has held Anil Ambani guilty of contempt in Ericsson default case, and also directed RCom to pay balance payment of Rs 450 crore to Ericsson in 4 weeks. Notably, in case of default of payment to Ericsson, Anil Ambani will be sent to jail for 3 months, CNBC Tv18 reported Supreme Court as saying. Anil Ambani wilfully did not pay Rs 550 crore to Ericsson, and he a ‘cavalier’ approach, noted the apex court.
In response, Reliance Communication said in a statement on the exchanges that it shall comply with the court’s directive.”We respect the Hon’ble Supreme Court judgement. The RCOM Group shall comply with same,” a Reliance Communication~ Limited spokesperson said.
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