Ericsson-RCom case: The Supreme Court on Wednesday held Reliance Communication Chairman Anil Ambani and two more directors guilty of contempt of court in a petition filed by Ericsson India against him over non-payment of dues worth over Rs 550 crore. The other two directors who have been found guilty include Reliance Telecom Chairman Satish Seth and Reliance Infratel Chairperson Chhaya Virani. In its judgement, the Supreme Court said that Anil Ambani and the two directors had to pay Rs 453 crore to Ericsson India in four weeks, failing which they could be jailed for at least three months. The SC also imposed a fine of Rs 1 crore each on them. If they fail to deposit the fine, one-month jail will be awarded, said the Supreme Court.
The other two directors are Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani https://t.co/Cy8c6pQTGq- ANI (@ANI) February 20, 2019
Visuals from Supreme Court, Delhi: Supreme Court holds Reliance Communication Chairman Anil Ambani and two directors guilty of contempt of court on a contempt plea filed by Ericsson India against him over not clearing its dues of Rs 550 crore. pic.twitter.com/bDS5VoHGRx- ANI (@ANI) February 20, 2019
A bench of Justices RF Nariman and Vineet Saran on February 13 had reserved its judgement after Ericsson India alleged the Reliance Group had money to invest in the Rafale jet deal but was showing reluctance in clearing its dues. The charge was vehemently denied by RCom.
Senior advocate Dushyant Dave, who appeared for Ericsson India argued that there was wilful disobedience on the part of Anil Ambani and co. of Supreme Court's orders and that contempt action should be initiated against them. Mukul Rohatgi, who appeared for RCom counter-argued that no orders of the apex court were violated and hence there was no contempt.
On October 23 last year, the court had asked RCom to clear the dues by December 15, adding that delayed payment would attract an interest of 12 per cent per annum. The plea by Ericsson had sought the court to direct Ambani and the lenders forum to hand over the Rs 550 crore with interest from sale proceeds as per the October 23 order.
Edited by Manoj Sharma