Anil Ambani guilty of contempt, clear dues or go to jail, says Supreme Court

New Delhi: Reliance Group Chairman and Industrialist Anil Ambani have been held guilty of contempt by the Supreme Court along with two other directors of Reliance.

Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani are among the two directors who are held guilty in the case by the supreme court.

Earlier a case was filed in the Supreme Court against Reliance by Ericsson India for not clearing its dues. Ericsson had argued before the court that while the Reliance Group had money to invest in the Rafale jet deal, they were unable to clear Rs. 550 crore they owed.

The apex court stated that “Anil Ambani and others breached their undertaking,” calling it “willful disobedience” of its order that they should repay Ericcson.

Supreme Court while giving 4 weeks time to Reliance in its judgement said, “Anil Ambani and 2 directors have to pay Rs 453 crore to Ericsson India within 4 weeks and if they fail to pay the amount, three months’ jail term will follow.”

Reliance Communication Limited spokesperson in a statement said “We respect the Supreme Court judgement. The RCOM Group shall comply with the same.”

Rs 1 crore fine was also imposed on each on them by the apex court and if the fine is not deposited within 30 days, one-month jail will be awarded.