Supreme Court holds Anil Ambani guilty of contempt, asks to pay up Ericsson
New Delhi, Feb 20 (IBNS): Holding Reliance Group chairman Anil Ambani guilty of contempt, the Supreme Court on Wednesday directed him to pay up all the dues to Ericsson or face jail, media reports said.
The top court said Anil Ambani will have to face a three-month jail if he doesn't pay Rs. 450 crore to Ericsson.
A division bench comprising Justices Rohinton Fali Nariman and Vineet Saharam pronounced the order on the Swedish telecom giant Ericson AB's contempt petition against Reliance Communications and its chairman Anil Ambani.
On Oct 23, 2018, the Supreme Court had asked Reliance Communications (RCom) to clear all the dues by Dec 15 of the same year.
However, RCom had said it couldn't pay up the dues due to the failure of assets sale deal with Reliance Jio, which is led by Anil Ambani's elder brother Mukesh.
After the verdict, Anil Ambani refused to comment on top court's verdict against him.
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