For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

Anil Ambani's RCom Pays Off Ericsson's Debt Before Deadline: Report


In a race against time to meet the Supreme Court's deadline, Reliance Communications Ltd paid off Rs 458.77 crore in dues that it owed to the Swedish telecom equipment maker Ericsson, according to aPTI report citing sources. Reliance Communications Chairman Anil Ambani would have faced a 3-month jail term if he had failed to pay the debt.

Anil Ambani's RCom Pays Off Ericsson's Debt Before Deadline: Report

In the last month, the Supreme Court has observed a 'wilful default' in payments and had held Ambani guilty of contempt of court and ordered the debt-laden company to clear its dues to Ericsson within four weeks time or face a jail term.

The report said that a source in the know said RCom has paid Rs 458.7 crore to Ericsson as directed by the Supreme Court but did not divulge details.

Story first published: Monday, March 18, 2019, 19:56 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more