Ericsson Deal: Supreme Court Orders Anil Ambani to Pay Rs. 453 Crore Dues or Go to Jail

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The Supreme Court on Wednesday ruled in favour of Swedish telecom giant Ericsson which had alleged Reliance Group Chairman Anil Ambani on charges of contempt.

The apex court found charges against Ambani substantial and ordered the Reliance Group Chairman to deposit dues of Rs. 453 crores in four weeks time or will have to face prison for three months.

The Supreme Court bench of justices RF Nariman and Vineet Saran pointed at Ambani’s “cavalier attitude” and asked him to pay Rs.1 crore to the Supreme Court registry.

Advocate Dushyant Dave appearing for Ericsson implied, “They have money for Rafale. Somebody who is getting involved in every conceivable project has no money to pay Rs.550 crores to us and honour this Court’s order.”

Anil Ambani had disclaimed such notion by the Ericsson company.

The younger Ambani brother had said there was failure in assets sale with his elder brother Mukesh Ambani led Reliance Jio telecom.

Senior advocate Mukul Rohtagi representing Anil Ambani said, “To say that Anil Ambani gave a personal undertaking and that it was unconditional is a traversing of justice… It was conditional.”

The act of contempt charge was filed against Anil Ambani, Reliance Telecom Ltd Chairman Satish Seth, Reliance Infratel Ltd Chairperson Chhaya Virani and SBI Chairman.

Earlier on October 23, 2018, the SC had ordered Ambani to clear dues by December 15, 2018 and had ruled late payment would result a 12 percent interest per annum.

Also on February 12 this year, the apex court had adjourned the proceedings in this case due to insufficiency in time.

The further proceedings in this issue will continue later.

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