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Holding Reliance Communications (RCom) Chairman Anil Ambani and two of the company’s directors guilty of contempt of court, the Supreme Court on Wednesday directed RCom to pay within four weeks Rs 453 crore of the Rs 571 crore it owes telecom equipment maker Ericsson. A failure to do so could land Ambani and the other two in jail for three months.
The Court was hearing three contempt applications that Ericsson had filed against Ambani and others for not clearing its dues.
How will RCom make the payment to comply with the court order? It could utilise the Rs 394 crore
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