India

SC to Anil Ambani- “pay up 453 crore in 30 days or go to jail”

The problems of Reliance Group chief Anil Ambani are increasing. On one side, Anil Ambani is being encircled by the opposition over the Rafale deal, and now he may have to go to jail in the case of contempt of court. The Supreme Court has convicted Anil Ambani for contempt of the petition on Ericsson India’s plea. Apart from Ambani, the court has found guilty of two directors of the company group in this case.

Court has asked Anil Ambani to give Ericcson India the outstanding amount of Rs 453 crores in 4 weeks. It has also been said that if not repaid within the deadline, then they should be prepared for a month jail term. The Supreme Court has imposed a penalty of one crore rupees for defying the order on all three. Significantly, telecom equipment manufacturer Ericsson had approached the Supreme Court for not paying the outstanding amount against Reliance Group Chairman Anil Ambani and others.

What was Ericsson’s allegation

Ericsson India had alleged in the court that the Reliance Group has funds to invest in the Rafale aircraft deal, but they are unable to pay the arrears of its 550 crore rupees. However, the company led by Anil Ambani had denied the charge. After this the court had reserved its decision. The hearing of the case is being done by the bench of Justice R. F. Nariman and Vineet Saran. This contempt petition was filed against Anil Ambani, against Reliance Telecom chairman Satish Seth, chairman of Reliance Infratel, Chhaya Virani and SBI president.

What was Anil Ambani’s company’s response

At the same time, Anil Ambani’s Reliance Communications had argued in the Supreme Court that after the failure of the deal to sell property with Mukesh Ambani’s Reliance Jio, his company is appealing for bankruptcy, there is no control over the amount. Reliance Communications had told the court that he made every possible effort to pay Ericsson’s dues but he did not get success.

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