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 flies in private jets, has money for Rafale but no money to pay Rs 550 cr dues, asks Ericsson lawyer

Firstpost  

Early this month, RCom decided to opt for insolvency proceedings following its failure to sell assets for paying back its lenders, the Anil Ambani-led telecom firm said. Supreme Court has on Wednesday reserved its judgement on a contempt plea filed against Reliance Communication chairman Anil Dhirubhai Ambani and and two others by Ericsson India over not clearing its dues of Rs 550 crore. However, somebody who is involved in every conceivable project has no money to pay Rs 550 crore and honour the Supreme Court order", Dushyant Dave for Ericsson in contempt case against Reliance Communication and Anil Ambani. Contempt proceedings Ericsson India had moved the Supreme Court seeking initiation of contempt proceedings for the second time against chairman of Reliance Communication Ltd, Anil Ambani for allegedly not complying with its order to clear dues of Rs 550 crore. In its first contempt plea, Ericsson sought action against Ambani and others for failing to pay Rs 550 crore towards settlement to the company by September-end last year.

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History of this topic

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

R-Infra to get Rs 7,100 cr from DMRC post SC ruling; defence manufacturing new engine of growth: Anil Ambani

Firstpost  

The payment from DMRC will be utilised for debt repayment and the company, which has a standalone debt of Rs 3,808 crore, will become debt free, Ambani said Mumbai, Sep 14 Reliance Infrastructure will receive Rs 7,100 crore from the Delhi Metro Rail Corporation after a recent Supreme Court judgement, the company’’s chairman Anil Ambani told shareholders on Tuesday. The …

HC Seeks Centre, SBI Stand on Anil Ambani's Plea to Include Chinese Banks in Insolvency Proceedings
4 years, 3 months ago

HC Seeks Centre, SBI Stand on Anil Ambani's Plea to Include Chinese Banks in Insolvency Proceedings

News 18  

New Delhi: The Delhi High Court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of USD 717 million against him from a court in United Kingdom, in the proceedings here related to recovery of Rs 1200 crore loan granted to two of his …

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

UK court orders Anil Ambani to pay $717 mn to 3 Chinese banks within 21 days; seeking legal advice, says firm

Firstpost  

A spokesperson for Anil Ambani said the matter pertains to an alleged personal guarantee for a corporate loan availed by Reliance Communications Limited in 2012 for global refinancing. London: A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly $717 million to three Chinese banks pursuing the recovery of funds owed to them as part of …

SC refuses to accept Vodafone's proposal to pay Rs 2,500 cr by today
4 years, 10 months ago

SC refuses to accept Vodafone's proposal to pay Rs 2,500 cr by today

India Today  

The Supreme Court Monday rejected telecom firm Vodafone's proposal to pay Rs 2,500 crore by the end of the day and Rs 1,000 crore by Friday against Adjusted Gross Revenue dues, while also refusing its plea that no coercive action be taken against it. The top court had on Friday warned of contempt proceedings against top executives of Bharti Airtel, …

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process
5 years, 1 month ago

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process

Firstpost  

Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, New Delhi: Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, according to a regulatory filing. The company, which is going through insolvency process, had made a profit of …

Shareholders plan to take Anil Ambani to court for over 90% erosion in shareholders wealth
5 years, 3 months ago

Shareholders plan to take Anil Ambani to court for over 90% erosion in shareholders wealth

The Hindu  

The back-to-back annual general meetings of five Reliance Group firms has put its chairman Anil Ambani in a difficult situation as a set of shareholders threaten to file class action suit against Anil Ambani for eroding shareholders wealth under his watch while another set of shareholders gave standing ovation to Reliance Group chairman to express their solidarity with him amidst …

NCLAT reserves order on admission of contempt plea filed against Anil Ambani, other officials
5 years, 6 months ago

NCLAT reserves order on admission of contempt plea filed against Anil Ambani, other officials

Firstpost  

New Delhi: The National Company Law Appellate Tribunal on Wednesday reserved its order over the admission of a contempt petition filed against Reliance Group Chairman Anil Ambani and its other officials by minority shareholders alleging non-payment of dues by Reliance Infratel. A two-member bench, headed by NCLAT Chairman Justice S J Mukhopadhaya, said it will decide whether the contempt petition …

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

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May

Firstpost  

At the last hearing, RCom had sought 357 days exclusion in the insolvency process citing the stays it had on the process by the NCLAT and the Supreme Court. Mumbai: The National Company Law Tribunal on Thursday allowed Reliance Communications to exclude the 357 days spent in litigation and admitted it for insolvency. With this, RCom, which owes over Rs …

Anil Ambani firm got 143.7 million euro tax waiver after Rafale deal announcement, claims French newspaper Le Monde
5 years, 9 months ago

Anil Ambani firm got 143.7 million euro tax waiver after Rafale deal announcement, claims French newspaper Le Monde

Firstpost  

Reliance Communications rejected any wrongdoing and said the tax dispute was settled under legal framework which is available for all companies operating in France. New Delhi: France waived taxes worth 143.7 million euros to a French-registered telecom subsidiary of Anil Ambani’s Reliance Communications in 2015, months after India’s announcement of buying 36 Rafale jets, a leading French newspaper Le Monde …

Le Monde drops Rafale bombshell: French authorities cleared Anil Ambani's $162 million tax after NDA deal
5 years, 9 months ago

Le Monde drops Rafale bombshell: French authorities cleared Anil Ambani's $162 million tax after NDA deal

India Today  

French national newspaper Le Monde has reported that the French authorities waived off taxes worth 143.7 million euros or 162.6 million dollars in favour of Indian businessman Anil Ambani's France-based telecom company called "Reliance Atlantic Flag France". Alexandre Ziegler April 13, 2019 TAX Anil Ambani's company was reportedly investigated by the French tax authorities and found liable to pay 60 …

Anil Ambani Avoids Prison As Reliance Clears Ericsson Dues Before SC Deadline
5 years, 9 months ago

Anil Ambani Avoids Prison As Reliance Clears Ericsson Dues Before SC Deadline

Live Law  

With Reliance Communications paying Rs.462 crores to Ericsson before the deadline fixed by the Supreme Court, its Chairman Anil Ambani has avoided imprisonment, reports the Economic Times. As per the ET report, Ericsson's lawyer confirmed receipt of the payment.On February 20, the Supreme Court had held Ambani and three Reliance companies guilty of contempt of court for not complying with. …

RCom pays ₹460 crore to settle Ericsson dues
5 years, 9 months ago

RCom pays ₹460 crore to settle Ericsson dues

Live Mint  

Mumbai: Ericsson SA has received ₹462 crore from Indian telecom firm Reliance Communications Ltd, the Swedish company said on Monday, potentially saving billionaire Anil Ambani and two RCom directors from a jail term. Late last month, the Supreme Court found Anil Ambani, chairman of the debt-laden firm, guilty of contempt of court for wilfully failing to pay the Swedish telecom …

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

NCLAT Refuses To Direct SBI To Release Rs.260 Crores To Reliance To Enable It To Settle Ericsson Dues [Read Order]

Live Law  

In a major set back to Anil Ambani, the National Company Law Appellate Tribunal on Friday refused to direct the State Bank of India to release the amount of Rs.260 crores of income tax refund held by it in trust on behalf of all creditors of Reliance Communications to enable the telecom company to pay Rs.450 crores to Ericsson India …

In a sinking ship
5 years, 10 months ago

In a sinking ship

The Hindu  

IN a case of how the mighty can fall, one of India’s top businessmen, Anil Ambani, chairman of the Anil Dhirubhai Ambani Group, faces the prospect of spending time in jail and going bankrupt. Jio’s failure to buy Rcom assets At the centre of Anil Ambani’s problems was Reliance Jio’s failure to buy RCom’s assets. Keeping in mind the crisis …

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

RCom looks to real estate assets, Jio deal to pay Ericsson dues of Rs 453 cr after Supreme Court order

Firstpost  

RCom owes a total Rs 571 crore to the Swedish telecoms equipment maker, including a one-time settlement of Rs 550 crore and interest payments of Rs 21 crore. Business tycoon Anil Ambani is planning to use a payment from his brother’s company and the sale of real estate assets to pay what he owes to Sweden’s Ericsson following a court …

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

Firstpost  

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. …

Supreme Court verdict against Anil Ambani in Ericsson-RCom case: Chronology of events
5 years, 10 months ago

Supreme Court verdict against Anil Ambani in Ericsson-RCom case: Chronology of events

Firstpost  

The Supreme Court on Wednesday held Reliance Communications Ltd chairman Anil Ambani and two others guilty of contempt of court. New Delhi: The following is the chronology of events in the case in which the Supreme Court on Wednesday held Reliance Communications Ltd chairman Anil Ambani and two others guilty of contempt of court. Observing there was a ‘wilful default’, …

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

Anil Ambani's Reply Affidavit Clearly Demonstrates His Cavalier Attitude To The Highest Court Of The Land: SC [Read Judgment]

Live Law  

The Supreme Court, on Wednesday, held three Reliance Companies, guilty of contempt of court for defaulting payments to Ericsson as per the undertaking given to the Court. The court also observed that the three Reliance Companies have willfully not paid the sum of INR 550 crore plus interest and have thus breached the undertakings given to the Court. "The undertakings …

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

Ericsson-RCom case: Supreme Court holds Anil Ambani guilty of contempt, asks him to pay dues of Rs 453 cr in 4 weeks

Firstpost  

The RCom chairman and others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks, the Supreme Court said. The Supreme Court on Wednesday held Reliance Communication chairman Anil Dhirubhai Ambani and others guilty of contempt in a plea filed by Ericsson India over not clearing its dues of Rs 550 crore. The Supreme Court …

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

Breaking: SC Holds Anil Ambani Guilty Of Contempt; No Jail If Reliance Pays Ericsson Rs 453 Crores In 4 Weeks [Read Judgment]

Live Law  

The Supreme Court bench of Justices R F Nariman and Vineet Saran has held Anil Ambani, Chairman of Reliance Communications, guilty of contempt of court for defaulting payments to Ericsson as per the undertaking given to the Court.The three Reliance Companies - RCom, Reliance Telecom and Reliance InfraTel- are also held guilty of contempt, and fine of Rs One Crore …

'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

'Reliance Has Money To Pay Rafale; But Not To Pay Our Debts', Ericsson Submits As SC Reserves Orders On Contempt Plea Against Anil Ambani

Live Law  

The Supreme Court bench of Justices R F Nariman and Vineet Saran today reserved orders on the contempt petitions filed by Ericsson against the Chairman of Reliance Communications Ltd Anil Ambani and other officials.Ambani was present in Court today along with Reliance Telecom Ltd Chairman Satish Seth and Reliance Infratel Ltd Chairperson Chhaya Virani.The contempt petitions have been. The Supreme …

Anil Ambani Appears Before SC In Contempt Plea By Ericsson; SC Adjourns Matter For Tomorrow
5 years, 11 months ago

Anil Ambani Appears Before SC In Contempt Plea By Ericsson; SC Adjourns Matter For Tomorrow

Live Law  

Anil Ambani, Chairman of Reliance Communications, appeared in the Supreme Court in response to the notices issued by the apex court in the contempt petitions filed Swedish company Ericsson. Three officials of the company were also present.The bench of Justices R F Nariman and Vineet Saran however adjourned the matter for tomorrow. The contempt petitions have been filed alleging that …

RCom chairman Anil Ambani reaches Supreme Court in contempt petition filed by Ericsson India
5 years, 11 months ago

RCom chairman Anil Ambani reaches Supreme Court in contempt petition filed by Ericsson India

Firstpost  

The Supreme Court of India had issued notice to Anil Ambani and others on a contempt petition filed by Ericsson India over non-payment of its dues. Reliance Communications chairman Anil Ambani has reached the Supreme Court on Tuesday to appear in a contempt petition filed by Ericsson India over not clearing its dues of Rs 550 crore. Contempt proceeedings Ericsson …

SC issues notice to Anil Ambani over RCom Ericsson dues
6 years ago

SC issues notice to Anil Ambani over RCom Ericsson dues

Live Mint  

New Delhi: The Supreme Court on Monday issued notice to Anil Ambani on a plea by Ericsson India Pvt. Senior lawyer Harish Salve, appearing for Reliance Jio said, “Knowing the problems with prior dues and when giving physical guarantee, we can’t take the risk.” The court was responding to a contempt petition by RCom against the department of telecommunications claiming …

Dues settlement row: Reliance Communications says Ericsson attempting media trial, endangering interest of creditors
6 years ago

Dues settlement row: Reliance Communications says Ericsson attempting media trial, endangering interest of creditors

Firstpost  

RCom said it remains committed to clear dues of Ericsson from spectrum realisation. However, the approval for the same is pending with the government New Delhi: Debt-laden Reliance Communications Sunday accused Swedish telecom gear maker Ericsson, which is an operational unsecured creditor of the company, of attempting media trial and sensationalising the issue of dues recovery, saying it might put …

Anil Ambani clears legal hurdle to sell telecom assets to Reliance Jio
6 years, 1 month ago

Anil Ambani clears legal hurdle to sell telecom assets to Reliance Jio

Live Mint  

New Delhi: The Supreme Court on Friday cleared the sale of spectrum by Anil Ambani-controlled Reliance Communications Ltd to elder brother Mukesh Ambani’s Reliance Jio Infocomm Ltd on the condition that the seller furnishes ₹ 1,400 crore as corporate guarantee to the government within two days. The tribunal had also asked RCom to not sell a land parcel worth ₹ …

Supreme Court tells RCom to pay Ericsson dues by 15 December
6 years, 2 months ago

Supreme Court tells RCom to pay Ericsson dues by 15 December

Live Mint  

New Delhi: The Supreme Court on Tuesday gave Reliance Communications Ltd time till 15 December to clear the pending payment of ₹ 550 crore towards telecom equipment manufacturer Ericsson India Pvt. RCom moved the top court on 19th March, seeking a stay on the orders by the Bombay high court and the Mumbai bench of the National Company Law Tribunal, …

Anil Ambani's Reliance Group Files Rs 5,000 Crore Defamation Suit Against Congress Owned National Herald
6 years, 4 months ago

Anil Ambani's Reliance Group Files Rs 5,000 Crore Defamation Suit Against Congress Owned National Herald

Live Law  

Anil Ambani's Reliance Group companies have filed a Rs 5,000 crore defamation suit against Congress-owned National Herald, claiming an article published in the newspaper regarding the Rafale fighter jet deal was "libellous and derogatory".They also filed a second, similar suit against Gujarat Congress leader Shaktisinh Gohil seeking Rs 5,000 crore in damages for defamation.The two suits. Anil Ambani's Reliance Group …

Rafale row: Anil Ambani files ₹5,000 crore defamation suit
6 years, 4 months ago

Rafale row: Anil Ambani files ₹5,000 crore defamation suit

The Hindu  

Anil Ambani’s Reliance Group companies have filed a ₹5,000-crore defamation suit against Congress-owned ‘National Herald’, claiming an article published in the newspaper regarding the Rafale fighter deal was “libellous and derogatory”. The civil defamation suit was filed by Reliance Defence, Reliance Infrastructure and Reliance Aerostructure, which belong to Anil Ambani-led Reliance Group, against the Associated Journals Limited, the publisher of …

Reliance Communications agrees to sell Rs 25,000 cr assets by August end; to pay Ericsson Rs 550 crore
6 years, 5 months ago

Reliance Communications agrees to sell Rs 25,000 cr assets by August end; to pay Ericsson Rs 550 crore

India TV News  

Debt-ridden Reliance Communications is looking to complete the sale of its business assets worth Rs 25,000 crore by the end of this month and has also agreed to pay Rs 550 crore towards settlement to telecom gearmaker Ericsson by September-end. Reliance Communications in a regulatory filing said that it has "agreed to pay a settlement amount of Rs 550 crore …

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