Supreme Court dismisses RCom's plea for more time to pay Ericsson dues

Staff reporter, New Delhi
15/12/2018   0 Comments

Supreme Court rejected Thursday the Reliance Communications (RCom) petition for paying Swedish telecom gear maker Ericsson for a long time, which caused a major shock to the debt-related company, which can now be withdrawn in bankruptcy proceedings. Senior advocate Anil Kher said that RCom is now required to pay Rs 550 crores to Ericsson by December 15, thereby issuing bankruptcy orders against the company again. The Swedish firm will still revive the contempt of the court's petition against RCOM Chairman Anil Ambani, who has given a personal guarantee to the equipment manufacturer for payment on time.

If payment is not made within the prescribed date, then after the winter break, after the court restart in January, the contempt petition and the bankruptcy order will be listed. 
Senior advocate Kapil Sibal and Mukul Rohatgi - appeared with Rakom on behalf of a former attorney general-lawyer Mahesh Agarwal, senior advocate Dushyant Dave was involved with Kher in the Swedish legal team's legal team. If the deadline of December 15 has expired, then it will be the second time that RCOM has not followed its payment plan, on the first of September 30, under the orders of the SC.


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