SC Allows RCom To Deposit Rs 118 Crore Against Ericsson Dues For Now

The Supreme Court allowed Reliance Communications to deposit Rs 118 crore by way of two demand drafts for now in lieu of the Rs 550 crore dues it owes to Ericsson.

The apex court, while hearing a contempt petition moved by Ericsson against Reliance Communications’ Anil Ambani, asked the latter to deposit the amount in the court’s registry. It has also issued a notice to Ambani and asked RCom to respond within 4 weeks.

Hearing other contempt petition moved by RCom against Department of Telecommunications (DoT) for not giving the No Objection Certificate (NoC), the top court said that the DoT would give the required NoC once RCom and Reliance Jio Infocomm dealt with their issue of past dues and cleared as to who will pay it.

The top court asked both RCom and RJio to sit together and resolve the issue by Friday when it shall next hear the matter.― Business Standard