gujarat banner
Hometelecom News

Ericsson petitions Supreme Court to prevent Anil Ambani from leaving India: report

Ericsson petitions Supreme Court to prevent Anil Ambani from leaving India: report

Ericsson petitions Supreme Court to prevent Anil Ambani from leaving India: report
Profile image

By CNBC-TV18 Oct 3, 2018 11:17:22 AM IST (Published)

Swedish telecom company Ericsson has submitted a petition to the Supreme Court requesting that Anil Ambani should be prevented from leaving the country till he settles his dues, reported The Times of India.

Swedish telecom company Ericsson has submitted a petition to the Supreme Court requesting that Anil Ambani should be prevented from leaving the country till he settles his dues, reported The Times of India.

Recommended Articles

View All

The report stated that besides Ambani, the Swedish company has asked the apex court to ensure two of Ambani's senior executives should also be barred from leaving the country.
The development follows the Swedish firm’s accusation that Ambani and his senior officials willfully defaulted in making promised payment of Rs 550 crore.
Earlier, Anil Ambani had made a deal with Reliance Jio, with expected inflows of up to Rs 25,000 crore through sale of various assets, the report said. But the hopes of settlement of all troubles hit a road block after the telecom ministry demanded bank guarantees worth Rs 2,900 crore over spectrum usage charges.
 
Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know. 
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!