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Do The ‘Dues’: Ericsson To Move Contempt Petition In SC Against Anil Ambani For Failing To Repay Rs 550 Crore
Anil Ambani addresses a press conference in Mumbai. Photo credit: SAJJAD HUSSAIN/AFP/GettyImages
Swedish networking and telecommunications company Ericsson is set to file a second contempt of court petition against Reliance Communications chairman Anil Ambani for failing to repay dues on time despite Supreme Court’s orders, reports Economic Times.
"We are going ahead with the revival of the earlier contempt petition as well as filing a new contempt petition against Anil Ambani because he failed to abide by the directions of SC as per its order on October 23,” senior counsel Anil Kher, who represents Ericsson was quoted in the report as saying.
Anil Ambani had reportedly given a personal guarantee in the Supreme Court, backing a timely payment to Ericsson and the first deadline was 30 September. He missed the deadline, prompting Ericsson to file a contempt petition against Ambani in October.
The Supreme Court, however, had extended more time to Reliance Communications, till 15 December, to settle payments with Ericsson.
According to the report, Reliance Communications had plans to sell spectrum to Reliance Jio, and use the funds to pay Ericsson Rs 550 crore plus the interest, besides other creditors. The Department of Telecommunications (DoT), however, rejected its spectrum trading pact with Jio, saying it didn’t conform to spectrum trading guidelines, prompting the Swedish company to decide to file new contempt petitions.
The DoT decision was triggered by a Jio letter stating that it shouldn’t be held liable for the Anil Ambani-owned company’s past dues.
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