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SC's order on Ericsson's contempt plea against Anil Ambani, others on Wed

RCom had told the court they had tried to move 'heaven and earth' to ensure Ericsson gets its due but was unable to do so due to failure of assets sale deal with Jio

Press Trust of India  |  New Delhi 

anil ambani
RCom Chairman Anil Ambani

The is scheduled to pronounce verdict Wednesday on three filed by Telecom against Group Anil and others for not clearing its dues.

A bench of Justices R F Nariman and Vineet Saran on February 13 reserved its judgement when India had alleged that the Group has money to invest in the Rafale jet deal but they were unable to clear its Rs 550-crore dues, a charge which was vehemently denied by the Anil Ambani-led company.

told the top court that with the failure of its assets sale deal with elder brother his company has entered insolvency proceedings and is not in control of the funds.

(RCom) had told the court they had tried to move "heaven and earth" to ensure gets its due but was unable to do so due to failure of assets sale deal with

The contempt plea has been filed against Ambani, Satish Seth, and SBI chairman

The court on October 23 asked to clear the dues by December 15, 2018, saying delayed payment would attract an interest of 12 per cent per annum.

The plea by Ericsson had sought that the court direct and the lenders forum to hand over the Rs 550 crore with interest from sale proceeds as per the October 23 order.

First Published: Tue, February 19 2019. 20:50 IST
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