Ericsson case against RCom: Anil Ambani appears before SC

Source :ANI
Author :ANI
Last Updated: Wed, Feb 13th, 2019, 18:46:37hrs
Ericsson case against RCom: Anil Ambani appears before SC

New Delhi  Reliance Communication Ltd (RCom) Chairman Anil Ambani on Wednesday appeared before the Supreme Court in connection with a contempt petition filed by Ericsson India against him over non-payment of dues.

Ericsson India has filed a case against Ambani for allegedly not clearing dues to the tune of Rs 550 crore.

Senior advocate Dushyant Dave, who appeared for Ericsson on Tuesday, had accused Ambani of serious perjury and alleged that he and his firm had hidden two sale amounts of RS 2,000 crore and Rs 3,000 crore from the court.

Anil Ambani-led RCom had earlier agreed to deposit Rs 118 crore, but Ericsson refused to accept. The top court then asked the RCom chief to deposit the amount in its registry.

Ericsson had also sought directions to the Union Home Ministry to prevent Ambani, Reliance Telecom Ltd Chairman Satish Seth, and Reliance Infratel Ltd Chairperson Chhaya Virani from leaving the country.

On October 23 last year, the top court had asked RCom to clear the dues by December 15, 2018, saying that delayed payment would attract the interest of 12 per cent per annum.

In 2014, Ericsson India had signed a seven-year deal to operate and manage RCom's nationwide telecom network. Ericsson India had alleged that RCom had not been paid dues of over 1,500 crore. It challenged the debt-ridden firm before the National Company Law Appellate Tribunal (NCLAT).

Perusing the NCLAT's order, the apex court had noted that Ericsson India was willing to settle its debt of over Rs 1,500 crore for a sum of Rs 550 crore, and it has to be paid by RCom within 120 days.