SC tells Anil Ambani Pay Rs 453 crore in 4 weeks or go to jail

Supreme Court (SC) held Reliance Communications Ltd (RCom) chairman Anil Ambani guilty of contempt of court for not honouring an undertaking to pay Rs 550 crore in dues to Ericsson India Ltd
Bench asked Anil Ambani to pay Rs 453 crore to Ericsson within four weeks failing which the three would have to undergo imprisonment of three months. It directed the Registry to transfer the Rs 118 crore already deposited in court to Ericsson within one week.
A Bench of Justices R F Nariman and Vineet Saran slammed the RCom chief’s “cavalier attitude…to the highest court of the land” and also held the chairpersons of Reliance Telecom Ltd and Reliance Infratel Ltd guilty of contempt.
Court also asked the three companies to pay a fine of Rs 1 crore each to the Registry within one week failing which the three chairpersons will have to serve one month in prison. “This sum will be paid over to the Supreme Court Legal Services Committee,” the Court said.
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