ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?
  • Exclusive: June GST collections estimated at Rs 1.37-1.39 lakh cr, sources tell Zee Business ahead of announcement on 1 July
  • Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM
  • Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

SC directs RCOM to pay Ericsson Rs 550 cr with interest

The court also imposed a fine of Rs 1 crore each on RCOM, Reliance Telecommunication and Reliance Infratel that would be deposited with the Supreme Court Legal Services Committee (SCLSC). 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
SC directs RCOM to pay Ericsson Rs 550 cr with interest
The court said that the entire amount that RCOM has to pay to Ericsson is Rs 550 crore plus the interest that was generated. Reuters

The Supreme Court on Wednesday directed Reliance Communications to pay Rs 453 crore to Ericsson India within four weeks failing which its chairman will have to undergo a three-month sentence. A bench of Justice Rohinton Fali Nariman and Justice Vineet Saran directed the court`s Registry to give Ericsson Rs 118 crore that were earlier deposited by RCOM. 

The court said that the entire amount that RCOM has to pay to Ericsson is Rs 550 crore plus the interest that was generated.  The court also imposed a fine of Rs 1 crore each on RCOM, Reliance Telecommunication and Reliance Infratel that would be deposited with the Supreme Court Legal Services Committee (SCLSC). 

Watch This Zee Business Video

In case of default the Chairman of all three companies would have to undergo sentence of one month each. 

The bench ordered this as it did not accept the "unconditional apology" tendered to the court by the RCOM Chairman.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Supreme CourtRComAnil Ambani
Written By: IANS
Updated: Wed, Feb 20, 2019
02:10 pm
New Delhi, , IANS
RELATED NEWS
SC extends demolition deadline of Supertech’s twin towers till 28 August SC extends demolition deadline of Supertech’s twin towers till 28 August
Supreme Court on FCRA: Receiving foreign donation can't be absolute or even a vested right Supreme Court on FCRA: Receiving foreign donation can't be absolute or even a vested right
Haryana Private Sector Jobs Reservation Quota For Locals: Key developments so far - What court said? Status right now? Act, Bill details Haryana Private Sector Jobs Reservation Quota For Locals: Key developments so far - What court said? Status right now? Act, Bill details

LATEST NEWS

Nothing Phone 1 confirmed to come with Snapdragon 778G+ SoC on July 12 - Know more

Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy

BMW drives in 6 Series 50 Jahre M Edition priced at Rs 72.9 lakh

Xiaomi 12S Ultra confirmed to launch with Sony IMX989 sensor ahead of launch on July 4

HDFC NIMs to be under pressure for a quarter: Parekh

Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?

Exclusive: June GST collections estimated at Rs 1.37-1.39 lakh cr, sources tell Zee Business ahead of announcement on 1 July

Indian and Offshore Gaming Sites Are in the Same Boat, Experts Remind

PNB Housing Fin to seek shareholders' nod next month to raise Rs 12,000 crore in debt

GST Council Meeting Outcome: Big boost for Rakesh Jhunjhunwala's stock as sewage treated water gets exemption from GST

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV