You are here: Home » News-IANS » Business-Economy
Business Standard

SC reserves order in RCom case

IANS  |  New Delhi 

The on Wednesday reserved on the contempt petitions filed by against Communications and its Anil Ambani, who was present in the court for the second day.

The contempt petitions were filed against and for failing to clear Rs 550 crore dues to Ericsson. Dushyant Dave, appearing for Ericsson, argued that the court had ordered to pay the amount by September 30 and their failure to pay despite extensions constituted contempt of the top court's order.

"The contempt was wilful," he told a bench comprising Justice and Justice

Defending Anil Ambani, said the undertaking to pay dues was subject to the spectrum sale deal between and Jio going through. Despite best efforts to get permissions to sell the assets to Jio, the deal could not go through due to failure to secure a no-objection certificate from the (DoT), said Rohatgi.

"We could manage only Rs 780 crore in the sale with Jio, which was routed to the DoT through lenders to avoid cancellations of the licences," Rohatgi said.

He contended there could not be any vicarious liability in this case to as there was no personal undertaking. "There is no personal undertaking. It's a listed company. The dues of a listed company cannot be paid by an individual," he said.--IANS

vsc/pcj

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 19:32 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU