Reliance Communications pays Rs 462 crore to Ericsson

Late last month, the Supreme Court had ordered Anil Ambani's RCom and two of its directors to pay Ericsson Rs 450 crore within four weeks or face a three-month jail term for contempt of court

Reuters 

Swedish telecom equipment maker Ericsson has received Rs 462 crore from Indian telecoms firm Reliance Communications Ltd (RCom), a spokeswoman for Ericsson said on Monday.

Late last month, the Supreme Court had ordered Anil Ambani's RCom and two of its directors to pay Ericsson Rs 450 crore within four weeks or face a three-month jail term for contempt of court.

RCom owes a total Rs 571 crore to Ericsson, including a one-time settlement of Rs 550 crore and interest payments of Rs 21 crore.

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First Published: Mon, March 18 2019. 17:56 IST