Ericsson India Pvt Ltd Friday moved the Supreme Court seeking initiation of contempt proceedings for the second time against Chairman of Reliance Communication Ltd (RCom) Anil Dhirubhai Ambani for allegedly not complying with its order to clear dues of Rs 550 crore. “It is respectfully being brought to the notice of this court that respondents have not paid payment of Rs 550 crore as ordered and as undertaken by December 15, 2018 or even thereafter. The plea sought direction to Ambani and the lenders forum to hand over Rs 550 crore with interest, as directed by the October 23 order, from the sale proceeds. It had said that Ericsson can revive its contempt plea against Reliance if the amount is not paid by December 15, 2018. In its first contempt plea, Ericsson sought action against Ambani and others for failing to pay Rs 550 crore towards settlement to the company by September-end last year.

Source: Indian Express January 04, 2019 17:48 UTC