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.
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.
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