The Supreme Court held Reliance Communications Chairperson Anil Ambani and two directors guilty of contempt of court for willfully not paying 550 crore rupees to Ericsson India.
If Ambani fails to pay, he will have to serve three months of jail term.
Additionally, the Supreme court has imposed a fine of 1 crore rupees on the three Reliance Communication entities.
The Supreme Court held Reliance Communications Chairperson Anil Ambani and two directors guilty of contempt of court for willfully not paying 550 crore rupees to Ericsson India.
Ericsson had filed three contempt pleas, in answer to which the apex court has asked Reliance Communications to spend 453 crore rupees to Ericsson in four weeks in addition to a 118 crore rupees amount lying with the court. If Ambani fails to pay, he will have to serve three months of jail term.
Additionally, the Supreme court has imposed a fine of 1 crore rupees on the three Reliance Communication entities. This fine will also have to be deposited within four weeks, or the directors will have to spend a month each in jail.