Apex court finds Anil Ambani guilty of contempt of court in a plea by Ericsson for dues payment

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

The Apex court while hearing a plea by Ericsson India found Anil Ambani and other two directors of Reliance Group(ADAG) guilty of contempt of court. The case is related to the payment of 453 Crore dues by RCom(Reliance Communications) to Ericsson India.

A two judge bench comprising of R F Nariman and Vineet Saran held the three guilty of contempt of court and imposed ₹1 Crore fine on each and also directed that nonobservance of it will lead to one month jail to them. The bench in its judgement also directed RCom to pay 453 Crore dues to Ericsson within a stipulated time of four weeks or three of them will be awarded with 3 months jail.
The other two directors are Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani.

It also stated that the amount of 118 crore, already deposited by Reliance Group(ADAG) in the apex court’s registry, will be disbursed to Ericsson.

The Swedish company alleged that RCom has millions of dollars to make a big defense deal like-Rafale Deal but abstains from paying 550 Crore dues to Ericsson. Reliance denied the alleged charges and said the group is making all possible efforts to pay the dues, but the failure of its ongoing deal with Relinace Jio for the sale of its assets has hindered it from doing so.
Ericsson signed a pact with RCom in 2014 to manage and operate its network and last year approached the court over unpaid dues. RCom on other hand assured that it will comply with the court’s directions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Left, Congress slam Mamata for not raising NRC with PM

Kolkata, Sep 18 (IANS) West Bengal's opposition Left parties and the Congress have lashed out against Chief Minister Mamata...

Death toll in Andhra boat tragedy rises to 34

Rajahmundry, Sep 18 (IANS) Bodies of six more tourists were pulled out from Godavari river in Andhra Pradesh's East Godavari district on Wednesday, taking...

Help me change state name to ‘Bangla’: Mamata to Modi (Lead)

New Delhi, Sep 18 (IANS) West Bengal Chief minister Mamata Banerjee, after a spell of 15 months, met Prime Minister Narendra Modi in New...

Snapchat introduces 3D Camera Mode

San Francisco, Sep 18 (IANS) Photo-messaging app Snapchat has announced a new 3D Camera Mode that will let users make and share images with...

Lamba says Speaker did not consider Twitter resignation

New Delhi, Sep 19 (IANS) The clash of rebel MLA Alka Lamba with the Aam Aadmi Party again erupted on Wednesday with the Chandni...
- Advertisement -

More Articles Like This