Connect with us

Company News

Ericsson Files Contempt of Court Petition Against Anil Ambani

Swedish telecom gear maker Ericsson has filed a petition in the Supreme Court for contempt of court against Anil Ambani, chairman of Reliance Communications after the firm failed to pay about Rs 5.50 billion to Ericsson to settle the dispute over dues.

RCom had to pay the amount to Ericsson by September 30 but the company approached SC seeking a 60-day extension. As Ericsson did not agree to the extension, it has now filed a contempt of court petition.

SC will hear the plea of RCom on October 4 whereas a date is not finalised for Ericsson. However, sources say Ericsson’s petition can also be taken up on October 4.

Meanwhile, the National Company Law Appellate Tribunal will hear the matter on October 3. The tribunal has asked the two parties to settle the disputes.

Queries sent to the companies remained unanswered.

In order to pare debt, RCom has already sold its tower and fibre business to Reliance Jio. However, selling of spectrum to Jio has not received a clearance from Department of Telecommunications yet. RCom has contested the department’s Rs 20 bn (approx) demand for spectrum charges for clearing the deal. – Business Standard

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!