SC Holds Anil Ambani, Asks to Pay 435 Crores in 4 Weeks!
The Supreme Court held industrialist Anil Ambani guilty of contempt for breaching undertakings to clear large dues to Ericsson India.
Though Ambani and directors of the group companies escaped from the jail term, for now, SC made it clear they should pay Rs 435 crores along with an interest in 4 weeks time to avoid 3-month jail and an additional payment of 1 crore.
"RCom had no intention to abide with the undertakings… Undertakings were false to the knowledge of the RCom and group companies. This amounts to contempt of court," the judge said.
RCom was hauled up for contempt for not making the payment of Rs 550 crore to Ericsson. Two Supreme Court officials were dismissed last week for trying to favour Anil Ambani.