Supreme Court seeks response from RCom chief Anil Ambani on Ericsson's contempt petition
TIMESOFINDIA.COM | Updated: Jan 7, 2019, 12:01 ISTHighlights
- RCom had accused Ericsson, which is an operational unsecured creditor of the company, of attempting media trial and sensationalising the issue of dues recovery
- The telecom firm, however, said it remains committed to clear dues of Ericsson from spectrum realisation
Reliance Communications chief Anil Ambani (File photo)NEW DELHI:The Supreme Court on Monday issued notice to Reliance Communication (RCom) chairman Anil Ambani and others on a contempt petition filed by Ericsson India over non-payment of its dues.
Anil Ambani-led RCom agreed to deposit Rs 118 crore but Ericsson refused to accept. Then, the top curt asked the RCom chief to deposit the amount in its registry.
The court has also granted four weeks time to Anil to respond on why contempt proceedings be not initiated against him.
RCom on Sunday had accused Ericsson, which is an operational unsecured creditor of the company, of attempting media trial and sensationalising the issue of dues recovery, saying it might put interest of even secured lenders at risk.
The telecom firm, however, said it remains committed to clear dues of Ericsson from spectrum realisation. However, the approval for the same is pending with the government.
In a setback to embattled RCom and its Rs 15,000-crore spectrum and mobile tower deal with elder brother Mukesh Ambani’s telecom venture Reliance Jio, the government has refused to provide immunity to the latter from any past-payment liabilities that may arise once the transaction is completed.
The apex court has asked Ambani brothers to sit together and resolve disputes over sale of Anil's telecom business to Mukesh. The court made it clear that the deal will not proceed till they resolve the issues.
Mukesh-led Jio has told the court that it cannot undertake to comply with telecom regulator Trai's guidelines to take over Anil's RCom till it is given bank guarantee.
Anil Ambani-led RCom agreed to deposit Rs 118 crore but Ericsson refused to accept. Then, the top curt asked the RCom chief to deposit the amount in its registry.
The court has also granted four weeks time to Anil to respond on why contempt proceedings be not initiated against him.
RCom on Sunday had accused Ericsson, which is an operational unsecured creditor of the company, of attempting media trial and sensationalising the issue of dues recovery, saying it might put interest of even secured lenders at risk.
The telecom firm, however, said it remains committed to clear dues of Ericsson from spectrum realisation. However, the approval for the same is pending with the government.
In a setback to embattled RCom and its Rs 15,000-crore spectrum and mobile tower deal with elder brother Mukesh Ambani’s telecom venture Reliance Jio, the government has refused to provide immunity to the latter from any past-payment liabilities that may arise once the transaction is completed.
The apex court has asked Ambani brothers to sit together and resolve disputes over sale of Anil's telecom business to Mukesh. The court made it clear that the deal will not proceed till they resolve the issues.
Mukesh-led Jio has told the court that it cannot undertake to comply with telecom regulator Trai's guidelines to take over Anil's RCom till it is given bank guarantee.
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