Bar Anil Ambani from leaving India, Ericsson to SC

Bar Anil Ambani from leaving India, Ericsson to SC


Swedish telecom equipment maker Ericsson asked the Supreme Court to bar Anil Ambani and two senior executives from leaving India in a contempt of court plea, reported a Financial Daily quoting a source. The demand of Ericsson came after the RCom defaulted on payment of Rs 550 crore in dues.

Even as RCom requested an extension of the deadline, Ericsson was not in favour of the demand. The company moved the top court on Monday, a day after the deadline, with a contempt of court plea against the company.

Ericsson argued in the plea that Anil Ambani and other executives should be prevented from leaving the country, accusing them of “wilfully defaulting” on payment of dues and not complying with the due process of the law, says a report in Financial Express.

Anil Ambani’s RCom called the plea “unwarranted” and said the company has already requested the top court for extending the payment deadline by 60 days. Further, RCom also got a big relief with a tribunal effectively paving way for the sale of its assets to raise funds and pay dues.

RCom had reached a settlement with its unsecured lender Ericsson for payment of Rs 550 crore against the dues of Rs 1,500 crore by September 30 from its Spectrum sale to elder brother Mukesh Ambani’s Jio Infocomm. However, the payment was not made.