SC fines Anil Ambani for Contempt of Court |
In a huge embarrassment to one of India`s leading business houses, Industrialist Anil Ambani was held guilty of contempt on wednesday by the Supreme Court of India, which said he will go to jail for three months if he doesn`t pay 64 million dollars to Ericsson India within four weeks. The court described the Reliance Communications chairman for what it called a "cavalier attitude" and fined him and two of his directors 141 thousand dollars each. The apex court said that "Anil Ambani and others breached their undertaking," calling it "willful disobedience" of its order that they should repay Swedish telecom equipment maker Ericsson. In a statement, a Reliance Communication Limited spokesperson said: "We respect the Supreme Court judgement. The RCOM Group shall comply with the same." The Supreme Court ruled that 25 million dollars, already deposited by Reliance Group in the court registry be given to Ericsson. It also said that any unconditional apology given by Reliance needs to be rejected as they had "breached the undertaking and order". Ericsson India had signed a seven-year deal with RCom in 2014 to manage and operate its network. Last year, it went to the apex court over unpaid dues of 77.5 million dollars against the Anil Ambani Company.
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