WATCH #Finance | Anil Ambani GUILTY of Contempt, Supreme Court Tells RCom to Pay Dues or Face JAIL #India #Controversy

The Supreme Court on Wednesday held industrialist Anil Ambani and Reliance Communication guilty of contempt for breaching undertakings to clear outstanding dues to Ericsson India. A bench headed by Justice Rohinton F Nariman ordered Ambani and the RCom companies to pay up Rs 453 crore with interest within four weeks. It added that the contemnors will suffer a jail term of three months and an additional penalty of Rs 1 crore if they fail to make the payment in four weeks. Ambani and the other directors were present in the courtroom when the order was pronounced. RCom was hauled up for contempt for not making the payment of Rs 550 crore to Ericsson despite the court orders and subsequent undertakings by the company and its directors. Watch the video now for full details.

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