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Ericsson files contempt of court against RCom's Anil Ambani for non payment of dues, says report

Ericsson files contempt of court against RCom's Anil Ambani for non-payment of dues, says report

Ericsson files contempt of court against RCom's Anil Ambani for non-payment of dues, says report
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By CNBC-TV18 Oct 2, 2018 9:31:14 AM IST (Published)

RCom failed to pay Rs 550 crore by the deadline.

Swedish telecom equipment major Ericsson filed a contempt of court petition in the Supreme Court against Reliance Communications' Anil Ambani after the company failed to pay Rs 550 crore by the deadline, The Economic Times reported.

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“We have filed a contempt of court petition against Anil Ambani, who had given an undertaking in the Supreme Court that the settlement amount to Ericsson will be paid by September-end,” Anil Kher, a senior counsel representing Ericsson, told the paper.
RCom last week asked Ericsson to extend the deadline by 60 days, however, the latter didn't agree to it as it “already waited a long time to recover its dues”, sources told the paper.
The debt-laden telco's nonpayment of dues can drag it back to insolvency proceedings, nullifying its spectrum sale deal with Reliance Jio, the report said.
The Supreme Court will next hear the case on October 4, a day after the National Company Law Appellate Tribunal (NCLAT) hears the matter, it added.
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