RCom taps all sources to settle Ericsson dues, avoid jail term for Anil

Anil Ambani’s almost-bankrupt Reliance Communications (RCom) will have to pay Rs. 571 crore to Swedish telecommunications equipment maker Ericsson within four weeks, failing which the Reliance Group chairman will have to face a three-month jail term. But, where the money will come from is the million-dollar question now.

RCom has already deposited Rs. 118 crore net of tax with the Supreme Court registry, which will be given to Ericsson within a week, according to sources in the know of the development.

Of the remaining Rs. 453 crore, the company is banking on two income tax refunds of Rs. 129 crore and Rs. 134 crore to pay Ericsson.