Top Court Asks Anil Ambani To Pay Or Face Jail In Ericsson Case | Read
Industrialist Anil Ambani was held guilty of contempt today by the Supreme Court, which said he will go to jail for three months if he doesn't pay Rs. 453 crore to Ericsson India within four weeks. The court tore into the Reliance Communications chairman for what it called a "cavalier attitude" and fined him and two of his directors Rs. 1 crore each. "Anil Ambani and others breached their undertaking," the court said, calling it "willful disobedience" of its order that they should repay Swedish telecom equipment maker Ericsson. In a statement, a Reliance Communication Limited spokesperson said: "We respect the Supreme Court judgement. The RCOM Group shall comply with the same."
