Industrialist Anil Ambani has been held guilty of contempt by the Supreme Court

Swedish telecom equipment maker Ericsson had gone to the Supreme Court

Anil Ambani and others breached their undertaking,” the court said, calling it “willful disobedience” of its order.

Swedish telecom equipment maker Ericsson had gone to the Supreme Court against Anil Ambani’s company for not clearing dues.

Ericsson India had alleged that the Reliance Group has money to invest in the Rafale jet deal, but they were unable to clear Rs. 550-crore dues, a charge which was vehemently denied by the Anil Ambani-led company.

Anil Ambani had told the top court that with the failure of its assets sale deal with elder brother Mukesh Ambani-led Reliance Jio, his company has entered insolvency proceedings and is not in control of the funds.

Reliance Communications (RCom) had told the court they had tried to move “heaven and earth” to ensure Ericsson gets its due but was unable to do so due to failure of assets sale deal with Reliance Jio.

The contempt plea has been filed against Anil Ambani, Reliance Telecom chairman Satish Seth, Reliance Infratel chairperson Chhaya Virani and SBI chairman.

The court had, on October 23, asked RCom to clear the dues by December 15, 2018, saying delayed payment would attract an interest of 12 per cent per annum.

 

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