Ericsson, which is a Swedish multinational networking and telecommunications company, had filed three contempt plea in the Supreme Court. The contempt plea was filed against Ambani, Reliance Telecom chairman Satish Seth, Reliance Infratel chairperson Chhaya Virani and SBI chairman.
New Delhi: Reliance Communication chairman Anil Ambani and two other directors of the company have been held guilty of contempt of court in the Reliance Communications-Ericsson case by the Supreme Court on Wednesday.
While rejecting the unconditional apology submitted by Reliance Communications, the apex court ordered the company to pay a fine of Rs 453 crore to Ericsson, along with the Rs 118 crore that it was supposed to pay.
Also read: RCom of Anil Ambani withholding dues to Ericsson? Case hearing adjourned
The company has been given a month’s time to pay the money or Ambani will go to jail for three months.
Supreme Court says Anil Ambani & 2 directors have to pay Rs 453 Cr to Ericsson India within 4 weeks & if they fail to pay the amount, three months' jail term will follow. SC also imposed a fine of Rs 1 cr each on them, if not deposited within a month, 1-month jail will be awarded https://t.co/5PG6OsD2j3
— ANI (@ANI)Ericsson, which is a Swedish multinational networking and telecommunications company, had filed three contempt plea in the Supreme Court.
The contempt plea was filed against Ambani, Reliance Telecom chairman Satish Seth, Reliance Infratel chairperson Chhaya Virani and SBI chairman
Meanwhile, 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 the failure of assets sale deal with Jio.
The court on October 23 had asked RCom to clear the dues by December 15, 2018, saying delayed payment would attract the interest of 12% per annum.
A bench of Justices RF Nariman and Vineet Saran on February 13 reserved its judgment 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.
With PTI inputs
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