Business

Ericsson Seeks Anil Ambani's Imprisonment Over Rs 550 Crore Dues

PRERNA YADAV | 0
3202
| January 4 , 2019 , 17:37 IST

Global telecom equipment major Ericsson filed its second contempt petition in the Supreme Court against Reliance Communications’ Chairman Anil Ambani over non-payment of Rs 550 crore service dues on Friday.

Ericsson also asked the court to "allow insolvency resolution proceedings under and in accordance with the order and proceedings of the NCLT against the respondents".

As per the petition, he should be detained in civil prison and be barred from travel overseas unless he ensures payment. In early October, Reliance Communications had sought 60 more days for repayment of Rs 550 crore to unsecured creditor Ericsson. It may be noted that Anil Ambani had given a personal guarantee in the court, backing a timely payment to Ericsson, the report mentioned. The apex court will hear both the petitions on Monday.

“The fresh application was filed because RCom and others did not comply with the SC order. We have been waiting for payments for a long time and their default is contempt of court,” said senior advocate Anil Kher representing Ericsson.

ALSO READ: Anil Ambani Welcomes SC Judgement On Rafale Deal, Says Allegations Against Firm Politically Motivated

Ericsson had signed a seven-year deal in 2014 with RComm for operating and managing the Indian telecom player's nationwide telecoms network. RComm owes Ericsson the dues in unpaid service costs after the deeply leveraged and indebted RComm went out of business.

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