On Wednesday bench of justices R F Nariman and Vineet Saharan pronounced the verdict after Ericsson dragged Anil Ambani to court after RCom failed to clear its dues despite having given an undertaking, according to the petitioner’s counsel, to pay the amount.
The Apex court stated that RCom Chairman Anil Ambani and other two directors have to pay Rs 453 crore in a time period of four weeks and if they failed to clear the dues then they will have to face a jail term of three-months.
Other two directors are Satish Seth, Reliance Telecom Chairman and Chhaya Virani, Reliance Infratel Chairperson.
Earlier Rs. 118 crore was deposited by RCom, top court ordered that amount to be disbursed to Ericsson.
RCom said that they respect the court order.