SC holds Anil Ambani guilty of contempt in Ericsson case, told to clear dues in 4 weeks

The Supreme Court on Wednesday held industrialist Anil Ambani guilty of contempt in a case filed by telecom equipment maker Ericsson. The court slapped a fine of Rs 1 crore on three Reliance Group companies – RCom, Reliance Telecom Ltd and Reliance Infratel Ltd – in the case. The Swedish telecom equipment maker had complained that Reliance Communications had not paid up as ordered by the court earlier.

The apex court directed Anil Ambani to pay the dues of Rs 453 crore in four weeks failing which he will be sentenced to three-month jail term. An amount of 118 crore is already deposited with the registry. The court directed this amount to be released immediately.