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Supreme Court helds Anil Ambani guilty of contempt

The Supreme Court bench of Justices R F Nariman and Vineet Saran has held Anil Ambani, Chairman of Reliance Communications, guilty of contempt of court for defaulting payments to Ericsson as per the undertaking given to the Court.

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The Supreme Court bench of Justices R F Nariman and Vineet Saran has held Anil Ambani, Chairman of Reliance Communications, guilty of contempt of court for defaulting payments to Ericsson as per the undertaking given to the Court. The three Reliance Companies – RCom, Reliance Telecom and Reliance InfraTel- are also held guilty of contempt, and fine of Rs One Crore each has been imposed on them. The Court however has given an opportunity to Reliance companies to purge contempt by paying Rs.453 crores to Ericsson within 4 weeks, failing which Anil Ambani will be sent to prison for three months.

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