Anil Ambani guilty of contempt for non-payment to Ericsson.
Anil Ambani
New Delhi: The Supreme Court on Wednesday held Anil Ambani, chairman of Reliance Communications, guilty of contempt of court for disobeying the orders to pay Rs 550 crore to Ericsson as per the undertakings given to the court.
A Bench of Justices Rohinton Nariman and Vineet Saran also held guilty of contempt three Reliance Companies — RCom, Reliance Telecom and Reliance InfraTel — and slapped a fine of Rs 1 crore each on them, failing to pay the fine will result in one month imprisonment.
The Bench has given an opportunity to Reliance companies to purge contempt by paying Rs 453 crore (which includes interest) to Ericsson within four weeks, failing which Mr Ambani will be sent to prison for three months.
( Source : Deccan Chronicle. )
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