Home Editor's picks SC orders Anil Ambani's Reliance communication, represented by Kapil Sibal, to pay Ericsson's dues by 15th Dec

SC orders Anil Ambani’s Reliance communication, represented by Kapil Sibal, to pay Ericsson’s dues by 15th Dec

Dushyant Dave was representing Ericsson while Congress leader Kapil Sibal was representing Anil Ambani led Reliance Communication

The Supreme Court of India has allowed Anil Ambani led Reliance Communication to clear its dues to Ericsson by December 15th 2018. A Bench of Justices Rohinton Nariman and S Abdul Nazeer passed the order after hearing Senior Advocates Dushyant Dave who was representing Ericsson and Senior Congress leader Kapil Sibal who appeared for Reliance Communications.

On August 3, the Supreme Court had ordered Reliance to pay Rs. 550 crore to Ericsson to settle the 1,500 crores owed by Reliance. The court had directed Reliance to pay this amount by 30th September.

Ericsson had approached the Supreme Court after Reliance had failed to comply with the order. The Apex Court after hearing Ericsson and Reliance ordered that the amount due can be cleared by Reliance by 15th December. In case of default, a penalty at 12% will have to be paid, which will kick off from the original due date of September 30.

- Ad - - article resumes -

“You (Reliance) ask for a reasonable period, we will give you and after that its over”, Justice Nariman said.

Senior advocate and Congress leader Kapil Sibal who was representing Anil Ambani led Reliance communication said, “Jio has not given us a penny. We are waiting for DoT to give us NoC for the sale of assets. The moment DoT gives us the NoC, within a week we will pay.”

This was opposed by senior advocate Dushyant Dave appearing for Ericsson who dissuaded the court from accepting the DoT’s argument.

Ericsson had filed a plea seeking to initiate contempt action against Reliance for not complying with the deadline set by the Court and Reliance had approached SC for an extension. Both petitions were heard by the Apex court on 23rd October and a revised due date was set.

Ericsson had signed a seven-year deal with Reliance Communications in 2014 to operate and manage its nationwide telecom network. After alleged non-payment of dues since 2016, Ericsson moved the NCLT against Reliance Communication and group companies, Reliance Infratel and Reliance Telecom, in September 2017.

The National Company Law Appellate Tribunal (NCLAT) had on 30 May stayed a corporate insolvency resolution process initiated against Anil Ambani-owned Reliance communication and two group companies, Reliance Infratel and Reliance Telecom.

The NCLAT order came after Ericsson India, which had initiated the insolvency proceedings, accepted Reliance’s offer to pay ₹550 crore by 30 September.

Help Opindia Reach Every Indian. Share This Post
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Big Story

As Barkha had predicted, the Sibals also blamed the newly-elected Narendra Modi government for the advertisers to back off. Lack of advertising revenues led to deepening of their financial troubles, they claim. 

2019 World Cup Is Here!

Catch the latest on Cricket World Cup as it unfolds, special coverage by Opindia

Proud to be a brand - Made in India?
Now, Advertise on Opindia

Interview: Former RAW officer makes further shocking revelations about Hamid Ansari after alleging that he endangered lives of RAW officers in Iran

In this exclusive interview, Former RAW (Research and Analysis Wing) officer NK Sood makes further revelations about his time in Iran, Hamid Ansari and the vilified scientist Nambi Narayanan

Kapil Sibal claims Barkha Dutt was sacked before her tweets, won’t be paid anymore, Barkha says Sibal is lying

As Barkha had predicted, the Sibals also blamed the newly-elected Narendra Modi government for the advertisers to back off. Lack of advertising revenues led to deepening of their financial troubles, they claim. 
Tiranga TV boots its employees: Here is why they don't deserve any sympathy

I am a journalist and here is why I have absolutely no sympathy for the ones who joined Tiranga TV

News emerged last night that bouncers had been sent to the offices of Tiranga TV as the employees were holding a silent protest in the premises.

Prime Minister Modi, Hindus are under siege, and now is the right time to speak up

PM Modi will still win elections due to sheer inertia and the pathetic state of the country's opposition but the faith that he commands will take a hit and even if it's among a small section of the support base, it would be a travesty
Supreme court judgements - regional languages

Here are 7 bizarre judgments by the Indian Judiciary that highlight the need for urgent reforms

It's not the first time that the rather bizarre tendencies of the Indian Judiciary have been on display. In this article, we revisit some of them.

Conversion at Karnataka High Court? Islamic proselytising organisation distributed Quran among judges and advocates

Salaam Centre engages in 'Dawah' or the Islamic practice of converting non-Muslims to Muslim.
Image Source: Newstate

Campaign to raise funds for Richa Bharti, who was ordered to distribute Quran by Ranchi court, surpasses target within hours

A 19-year old college student, Richa Bharti was ordered to distribute 5 copies of Quran as a condition of bail by the Ranchi court

Aspiring model Khushi Parihar murdered over ‘friendship with other men’, live-in partner Ashraf Sheikh arrested

Aspiring model Khushi Parihar was found murdered with her head and face smashed on Saturday morning at Chatarpur farms, around 50 KMs away from the Nagpur city, her live-in partner Ashraf Sheikh has been arrested

Jharkhand: Hindu organisations allege bias as girl is arrested for Facebook post on Tabrez Ansari death based on FIR by Islamia committee

Acting on a complaint by the Anjuman Islamia Committee in Pithoria district, Ranchi, over a Facebook post on the Tabrez Ansari death, the Jharkhand police have today arrested a girl named Richa Bharti.
Kapil Sibal backed Tiranga TV senior producer accused of sexual harassment

Tiranga TV in yet another controversy: Girl accuses senior producer of sexual harassment, makes lewd chats public

A girl has accused the senior producer of Kapil Sibal backed Tiranga TV of sexual harassment. Himanshi Gupta took to Twitter to make lewd WhatsApp chats public.
Subscribe to Day's Top Stories
- Advertisment -

Latest articles

Connect with us

173,547FansLike
158,572FollowersFollow
74,790SubscribersSubscribe
Help Opindia Reach Every Indian. Share This Post