Supreme Court holds Reliance Communication chairman Anil Ambani guilty of contempt of court

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New Delhi: Supreme Court holds Reliance Communication chairman Anil Ambani guilty of contempt of court on a contempt plea filed by Ericsson India against him over not clearing its dues of Rs 550 crore.

Supreme Court says Anil Ambani & 2 directors have to pay Rs 453 Cr to Ericsson India within 4 weeks & if they fail to pay the amount, three months’ jail term will follow. SC also imposed a fine of Rs 1 cr each on them, if not deposited within a month, 1-month jail will be awarded.

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