Pay 453 Crores or face 3 Months jail : SC to Anil Ambani

Anil Ambani might lose his offset share in Dassault which is already as low as 3%.

Supreme court ordered Anil Ambani’s RCom to pay a whopping Rs 453 to Ericson. The ruling comes days after Anil Ambani files his company Reliance Communications for Bankruptcy under the new Insolvency and Bankruptcy code.

But the Supreme Court tore down the application saying the firm cannot file bankruptcy unless it pays back Rs. 453 Crores to Ericson according to the agreement. This comes just months after the Supreme court denied selling off the RCom’s assets to Jio, owned by Mukesh Ambani.

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