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Pay the dues or go to jail, SC tells Ambani

  • IndiaGlitz, [Wednesday,February 20 2019]

The Supreme Court has on Wednesday held Reliance Communication chairman Anil Ambani and two directors of the company guilty of contempt of court on a contempt plea filed by Ericsson India against Ambani over dues of Rs 550 crore.

Although the apex court had ordered Reliance to pay the dues last year, the company is yet to honour the verdict.

The due payment should be cleared in 4 weeks.  In case Ambani fails to pay the amount, he will be jailed for three months.

In another news, Ambani recently filed for bankruptcy in a default case.

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