A day after Supreme Court verdict against Anil Ambani, RCom asks lenders to release Rs 260 cr directly to Ericsson
5 years, 10 months ago

A day after Supreme Court verdict against Anil Ambani, RCom asks lenders to release Rs 260 cr directly to Ericsson

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Observing there was a ‘willful default’, the Supreme Court ordered RCom to clear the Rs 453 crore dues to Swedish telecom equipment maker Ericsson within four weeks or face a 3-month jail term. The Supreme Court on Wednesday found Anil Ambani, chairman of debt-laden RCom, guilty of contempt of court for willfully failing to pay Rs 550 crore to Ericsson. Observing there was a ‘willful default’, the Supreme Court ordered the debt-laden company to clear the Rs 453 crore dues to Swedish telecom equipment maker Ericsson within four weeks or face a 3-month jail term. Besides Ambani, the court held Reliance Telecom Ltd chairman Satish Seth and Reliance Infratel Ltd Chhaya Virani as well as their three companies guilty of contempt of court, “The RCom group is directed to purge the contempt of this court by payment to Ericsson the sum of Rs 453 crore within a period of four weeks from today.

History of this topic

SC restores claims worth ₹10,952 cr of Reliance Infratel's 4 indirect creditors
3 weeks, 5 days ago
R-Infra to get Rs 7,100 cr from DMRC post SC ruling; defence manufacturing new engine of growth: Anil Ambani
3 years, 4 months ago
HC Seeks Centre, SBI Stand on Anil Ambani's Plea to Include Chinese Banks in Insolvency Proceedings
4 years, 3 months ago
AGR case: SC seeks details of spectrum users of bankrupt telcos
4 years, 5 months ago
NCLT reserves order on SBI plea against Anil Ambani to recover over Rs 1,200 crore
4 years, 6 months ago
Lenders to Reliance Naval seek EoIs for sale of Anil Ambani company
4 years, 7 months ago
UK court orders Anil Ambani to pay $717 mn to 3 Chinese banks within 21 days; seeking legal advice, says firm
4 years, 7 months ago
RCom creditors panel to vote on Rs 23,000-cr resolution plans on 24 February; loans of Chinese lenders to reduce by nearly 65%
4 years, 10 months ago
UK court dismisses Chinese bank plea for conditional order in $680 mn claim against RCom chief Anil Ambani
5 years ago
UK High Court dismisses $680-mn claim application by Chinese banks against Anil Ambani
5 years ago
Reliance Communications lenders reject resignation of Anil Ambani, 4 other directors
5 years, 1 month ago
Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process
5 years, 1 month ago
NCLAT reserves order on admission of contempt plea filed against Anil Ambani, other officials
5 years, 6 months ago
Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May
5 years, 8 months ago
Reliance vs Ericsson: Unsecured Creditor Walks Away With Money; Banks Clueless About Recovery
5 years, 9 months ago
Anil Ambani Avoids Prison As Reliance Clears Ericsson Dues Before SC Deadline
5 years, 9 months ago
RCom pays ₹460 crore to settle Ericsson dues
5 years, 9 months ago
NCLAT Refuses To Direct SBI To Release Rs.260 Crores To Reliance To Enable It To Settle Ericsson Dues [Read Order]
5 years, 10 months ago
In a sinking ship
5 years, 10 months ago
RCom looks to real estate assets, Jio deal to pay Ericsson dues of Rs 453 cr after Supreme Court order
5 years, 10 months ago
Supreme Court verdict against Anil Ambani in Ericsson-RCom case: Chronology of events
5 years, 10 months ago
Reliance Group stocks under pressure; slip up to 4.3% on Supreme Court order against Anil Ambani in Ericsson case
5 years, 10 months ago
Anil Ambani's Reply Affidavit Clearly Demonstrates His Cavalier Attitude To The Highest Court Of The Land: SC [Read Judgment]
5 years, 10 months ago
Ericsson-RCom case: Supreme Court holds Anil Ambani guilty of contempt, asks him to pay dues of Rs 453 cr in 4 weeks
5 years, 10 months ago
Supreme Court holds RCom, Anil Ambani guilty of contempt in Ericsson dues case
5 years, 10 months ago
Breaking: SC Holds Anil Ambani Guilty Of Contempt; No Jail If Reliance Pays Ericsson Rs 453 Crores In 4 Weeks [Read Judgment]
5 years, 10 months ago
'Reliance Has Money To Pay Rafale; But Not To Pay Our Debts', Ericsson Submits As SC Reserves Orders On Contempt Plea Against Anil Ambani
5 years, 11 months ago
Supreme Court reserves verdict in Ericsson’s contempt plea against RCom
5 years, 11 months ago
Anil Ambani flies in private jets, has money for Rafale but no money to pay Rs 550 cr dues, asks Ericsson lawyer
5 years, 11 months ago
Anil Ambani Appears Before SC In Contempt Plea By Ericsson; SC Adjourns Matter For Tomorrow
5 years, 11 months ago
RCom chairman Anil Ambani reaches Supreme Court in contempt petition filed by Ericsson India
5 years, 11 months ago
Reliance Communications stock sinks by more than half to a record low as firm asks NCLT to resolve debt
5 years, 11 months ago
RCom heads to Indian bankruptcy court after Ambani brothers’ mobile battle
5 years, 11 months ago
RCom files for insolvency after govt refuses nod for asset sale to Jio
5 years, 11 months ago
SC issues notice to Anil Ambani over RCom Ericsson dues
6 years ago
Dues settlement row: Reliance Communications says Ericsson attempting media trial, endangering interest of creditors
6 years ago
Reliance Communications says 'fully committed' to settle dues with Ericsson from spectrum sale
6 years ago
RCom files case in Supreme Court against DoT over Jio deal
6 years ago
SC issues notice on RCom’s plea challenging TDSAT order directing refund of unspent prepaid balance
6 years, 1 month ago
Anil Ambani clears legal hurdle to sell telecom assets to Reliance Jio
6 years, 1 month ago
Supreme Court tells RCom to pay Ericsson dues by 15 December
6 years, 2 months ago
RCom caps borrowing limit to ₹50,000 crore
6 years, 3 months ago
Reliance Communications agrees to sell Rs 25,000 cr assets by August end; to pay Ericsson Rs 550 crore
6 years, 5 months ago
RCom-Jio deal: Reliance Infratel, HSBC Daisy submits final consent terms to NCLAT
6 years, 6 months ago

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