SC holds Anil Ambani guilty of contempt, tells him to clear dues or go to jail
After hearing, RCom's advocate Mukul Rohatgi, said he respects SC decision and will honour the directions on payment of dues to Ericsson.
New Delhi: The Supreme Court on Wednesday held Reliance Group Chairman Anil Ambani and other two directors guilty of contempt of court. The other two directors are Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani.
The plea was filed by Ericsson India against Ambani over not clearing its dues of Rs 550 crore.
Supreme Court in its judgement said, “Anil Ambani and 2 directors have to pay Rs 453 crore to Ericsson India within 4 weeks and if they fail to pay the amount, three months' jail term will follow.”
The top court also imposed a fine of Rs 1 crore each on them. One-month jail will be awarded, if the fine is not deposited within 30 days.
After hearing, RCom’s advocate Mukul Rohatgi, said he respects the decision of the Supreme Court and expressed confidence that the group will honour the directions on payment of dues to Ericsson.
Rohatgi expressed confidence that the bunch will respect the directions on payment of dues to Ericsson.
"We have faced our difficulties. However, the court ruled the way it has ruled," Rohatgi added.