Anil Ambani’s RCom Pays 462 Crore Dues to Ericsson a Day Before Supreme Court Deadline Ends

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Swedish telecom equipment maker Ericsson has received 462 crore rupees ($67.42 million) from Indian telecom firm Reliance Communications Ltd (RCom), a spokeswoman for Ericsson said on Monday.

Late last February, Supreme Court had ordered Anil Ambani’s RCom and two of its directors to pay Ericsson 4.5 billion rupees within four weeks or face a three-month jail term for contempt of court.

RCom owes a total 571 crore rupees to Ericsson, including a one-time settlement of 550 crore rupees and interest payments of 21 crore rupees.

Around a week before the Supreme Court order to pay up, Anil Ambani-led Reliance Group got into a bitter spat with L&T Finance and certain companies of the Edelweiss Group.