Anil Ambani pays dues to Ericsson; RCom-Jio asset sale deal called off

NEW DELHI: Reliance Communications (RCom) chairman Anil Ambani avoided a three-month jail term by paying Rs 458.77 crore in dues to Swedish telecom gear-maker Ericsson, a day before the deadline set by the Supreme Court, on Monday. Confirming the repayment, the RCom chief thanked his brother Mukesh Ambani and wife for their “timely support.” In a separate development, the same day, RCom’s asset sale deal with Mukesh Ambani’s Reliance Jio was called off.

Last month, the Supreme Court, observing that there was a wilful default, held Ambani, along with Chhaya Virani and Satish Seth, chairmen of RCom units Reliance Infratel and Reliance Telecom, guilty of contempt of court. It had ordered RCom to clear dues to Ericsson within four weeks (by March 19) or face three-month jail. RCom had earlier missed two deadlines — on September 30 and December 15, 2018.