Ericsson requests Supreme Court to prevent Anil Ambani from leaving India

A Swedish telecom equipment company has filed a petition in the Supreme Court to prevent Anil Ambani and two other executive officers from leaving the country after it was alleged that they have failed to clear a previously agreed payment of Rs 550 crore towards the company.

Reportedly, the company was to be paid the amount for partnering with Anil Ambani group in a business affair. Ambani’s group has debts running up to Rs 45000 crore.

According to a report in TOI, Ericsson had earlier agreed to lower its dues for the Ambani group from Rs 1600 crore to 550 crores following a court-monitored settlement, which promised the payment by September 30. But with no payment coming their way the company has approached the apex justice body once again.

“They have no respect for the law of the nation and have abused the process of law,” said Ericsson requesting the court to begin the proceedings against the company, while also restrict them from leaving the country.

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“…prevent any of these persons from leaving the country without any specific permission of the court … these directions are necessary to secure the ends of justice.”

Anil’s Reliance Communications (RCom) in a statement to the stock exchange termed Ericsson’s petition at the court as “unwarranted” and confirmed that it had sought an extension of 60 days to make the payment.

Anil Ambani had earlier managed to strike a deal with elder brother Mukesh Ambani’s Reliance Jio through the sale of spectrum, towers, and fiber.