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