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