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.

- Advertisement - - 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.

Share This Post With Your Friends & Fans:
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.


Most read articles recently

Sri Lanka attacks

Sri Lankan millionaire’s family was an ISIS cell: Suicide bombers shatter shameless excuses peddled by ‘liberals’ to justify Islamic terrorism

All over the world, the terrorist attacks by radical Islamists is immediately served with long and extensive excuses about how social ills, discrimination, poverty, hardships, and atrocities lead to terrorism.

Meet the Photoshop artist whose work Akshay Kumar showed to Prime Minister Modi

While mostly people have been appreciative of his artwork, suspended bureaucrat Ashish Joshi has threatened him with police complaint about his cleverly Photoshopped image
If you believe Google trends, this election is a runaway win for Modi

If you believe Google trends, this election is a runaway win for Modi

It’s fairly clear: Congress hasn’t managed to get its message out.  If you ask Google Trends, this election is over. The writing is on the wall. PM Narendra Modi is all set to win

Propagandist Dhruv Rathee mocks Manohar Parrikar’s death to score political brownie points

Earlier, too, Rathee was caught speaking the same language as that of Pulwama attack terrorist by mocking 'cow urine drinkers'
The Quint lies, twists and tortures CVoter data to make it say that the Modi wave is over. Here is what the data actually says

The Quint lies, twists and tortures CVoter data to make it say that the Modi wave is over. Here is what the data actually says

Leftist portal The Quint published an article headlined "Modi wave over? Why pollsters are scaling down projections for BJP" based on CVoter data, where the data itself was twisted, selectively quoted and misrepresented

Two AAP MLAs lunged towards Kejriwal and one punched him such that his glasses fell off, claims Kapil Mishra

AAP MLAs reportedly beat up Kejriwal so much that he has injured his knees and could not walk properly

Mamata Banerjee sends kurtas and sweets for him says PM Modi in a freewheeling chat with filmstar Akshay Kumar

Prime Minister Modi's informal interaction with film star Akshay Kumar leads to a meltdown of 'journalists'
Tehseen Poonawalla mocks people for using chalks to clean their shoes

Robert Vadra’s relative mocks Modi’s memories, exposes why Congress could never understand needs of India’s poor

Tehseen Poonawalla mocked PM and others who claimed to have used chalk to whiten their dirty canvas shoes and called them dumb.

Naxal sympathisers, ultra-left wing activists and Congress beneficiaries among ’eminent’ people seeking inquiry against CJI

We look into the background of some of these people part of the 'eminent' group which has now asked for a probe against the sitting CJI for sexual harassment

Twinkle takes out all her anger on Tweets against me, so your family life must be peaceful: PM Modi says to Akshay Kumar

Twinkle Khanna, daughter of former Congress MP Rajesh Khanna, in the past has used false equivalence to take a dig at some of the initiatives of Prime Minister Modi.

Latest articles

Connect with us

157,373FansLike
130,463FollowersFollow
54,910SubscribersSubscribe

Don't miss these

Share This Post With Your Friends & Fans: