India’s Supreme Court said on Wednesday that Reliance Communications chairman Anil Ambani willfully did not pay 5.5 billion rupees to Swedish telecom equipment maker Ericsson, holding him guilty in a contempt of court case.
The court asked Anil Ambani and two directors of Reliance Communications to pay 4.5 billion rupees to Ericsson within four weeks. They will face three months jail term if they fail to pay the amount, the court said.
The Swedish telecom network company signed a deal with Reliance Communications in 2014 to manage and operate its network and last year approached the court over unpaid dues of 5.5 billion rupees.
Reliance Communications in a statement said that the company respect the court judgment and the group shall comply with same.