SC holds RCom chairman Anil Ambani, two directors guilty of contempt of court

Supreme Court holds Reliance Communication chairman Anil Ambani and two directors guilty of contempt of court on a contempt plea filed by Ericsson India against him over not clearing its dues of Rs 550 crore. The other two directors are Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani

Supreme Court says Anil Ambani & two directors have to pay Rs 453 Cr to Ericsson India within 4 weeks & if they fail to pay the amount, three months' jail term will follow. SC also imposed a fine of Rs 1 cr each on them, if not deposited within a month, 1-month jail will be awarded