NEW DELHI: The Indian Supreme Court on Wednesday found Industrialist Anil Ambani guilty of contempt for not paying dues to Ericsson AB, saying that the chairman of the Reliance Group will face a jail term if he doesn't pay Rs 453 crore to Swedish telecom equipment maker within four weeks.The apex court has given Reliance Communications Ltd four weeks to clear the Rs 550-crore dues to Ericsson, which once supplied telecom network equipment to them. The court also said Ambani will face three months in prison if he fails to clear dues. 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."
from The News International - World https://ift.tt/2STAuRh
Friday, February 22, 2019
Anil Ambani to pay Rs 453 crore or face Jail in Ericsson case
Related Posts:
Pakistan still shelters insurgents, claims Ashraf GhaniDAVOS: Afghanistan’s President Ashraf Ghani said on Thursday that Pakistan continued to give sanctuary to an insurgent group that helps the Taliban in its war against Kabul and the United States, directly contradicting an ear… Read More
Australia capital airport closed as bushfires flare anewSYDNEY: Bushfires near the Australian capital Canberra forced the city´s airport to close on Thursday, as passenger flights were halted to make way for aircraft working to extinguish the blazes, authorities said. High tempera… Read More
France, US agree to extend digital tax row talks: French diplomatPARIS: Presidents Emmanuel Macron and Donald Trump have agreed to extend negotiations on a dispute over a French tax on digital giants to the end of the year, postponing Washington´s threat of sanctions against Paris, a Frenc… Read More
Prince Harry leaves for Canada to reunite with Meghan Markle: reportLONDON: Britain's Prince Harry is believed to have left the United Kingdom for Canada on Monday evening, to be reunited with his wife Meghan Markle and his eight-month-old son Archie, The UK media reported h… Read More
China reports 17 more cases of new virus strainThe total number of patients infected by the disease in China, all of them in central Chinese city of Wuhan, has now climbed to 62. Photo: File China reported 17 more cases of pneumonia caused by a new coronavirus strain on S… Read More
0 comments:
Post a Comment