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Pay Ericsson or go to jail: SC to Anil
Observing there was a ‘wilful default’, the Supreme Court on Wednesday held Anil Ambani, chairman of Reliance Communication(RCom), guilty of contempt of court and ordered the debt-laden company to clear the Rs 453 crore dues to Swedish telecom equipment maker Ericsson within four weeks or face a 3-month jail term.
By
migrator
migrator
New Delhi
In a verdict that came as a setback to Ambani, the apex court also pulled up the industrialist for his “cavalier attitude” demonstrated through the affidavit filed in the court, saying any “unconditional apology” given must be rejected.
Besides Ambani, the court held Reliance Telecom Ltd chairman Satish Seth and Reliance Infratel Ltd Chhaya Virani and their three companies guilty of contempt of court.
It also imposed Rs one crore fine on each of the three companies and in case of default the chairmen of these companies will have to undergo one month’s imprisonment.
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