FILE PHOTO: Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group, addresses shareholders during the company’s annual general meeting in Mumbai, India, September 18, 2018. REUTERS/Francis Mascarenhas/File Photo
NEW DELHI (Reuters) – India’s Supreme Court said on Wednesday that Reliance Communications chairman Anil Ambani willfully did not pay 5.5 billion rupees to Swedish telecom equipment maker Ericsson, holding him guilty in a contempt of court case.
The court asked billionaire Ambani and two directors of RCom to pay 4.5 billion rupees to Ericsson within four weeks. They will face three months jail term if they fail to pay the amount, the court said.
The Swedish company signed a deal with RCom in 2014 to manage and operate its network and last year approached the court over unpaid dues of 5.5 billion rupees.
Reliance Communication said the company respect the court judgment and the “group shall comply with same.”
Reporting by Suchitra Mohanty; Writing by Rajendra Jadhav; Editing by Euan Rocha