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Prevent Anil Ambani from leaving the country: Supreme Court to hear Ericsson petition today

The Supreme Court is likely to hear on Thursday telecom equipment maker Ericsson’s plea seeking contempt action against RCom Chairman Anil Ambani and others for failing to pay Rs 550 crore towards the settlement to the company by September end. A bench of Justices R F Nariman and Indu Malhotra is scheduled to hear the contempt plea. Swedish telecom equipment company Ericsson has petitioned the Supreme Court to prevent Anil Ambani and two senior executives from his group from leaving the country after accusing them of willfully defaulting in previously promised payment of Rs 500 by alleged abuse of process of law.

 The company was to get the payment in lieu of the business it had done with the embattled Anil Ambani group that has debt running up to Rs 45,000 crore. Ericsson had earlier agreed to scale down its dues towards Ambani‚Äôs group from Rs 1,600 crore to Rs 550 crore as part of a court-monitored settlement which promised the payment by September 30 this year. However, since the payment did not come from RCom, it has decided to approach the top court on the matter once again. 

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