SC to Anil Ambani, two RCom directors: Pay Ericsson ₹453 cr or face jail

The Supreme Court on Wednesday held Reliance Communication (RCom) Chairman Anil Ambani and two directors of the group guilty of contempt of court and asked them to pay ₹453 crore to Swedish telecom equipment major Ericsson within four weeks. Failure to comply with the order will invite a three-month jail term.

This is in addition to the ₹118 crore RCom had deposited with the Supreme Court Registry, said the court order, a copy of which was viewed by BusinessLine. The court will hand over this deposit to Ericsson in a week.

Reliance Telecom Chairman Satish Seth and Reliance Infratel Chairperson Chhaya Virani are the other two directors found guilty by the court on Wednesday.