Anil Ambani's RCom pays Rs 458.77 crore to Ericsson: Sources

NEW DELHI: Racing towards time to meet the Supreme Court's deadline, Reliance Communications (RCom) has paid Rs 458.77 crore of dues to Swedish telecom equipment maker Ericsson, in line with assets.

Failure to cough up the dues would have supposed that RCom chairman Anil Ambani would have faced a 3-month prison time period. Observing there was a 'wilful default', the Supreme Court final month held Ambani to blame + of contempt of court and ordered the debt-laden company to clear the dues to Ericsson inside 4 weeks or face a 3-month prison time period.

RCom seems to be to actual estate property, Jio deal to pay Ericsson dues

The company stated in a commentary on Thursday it has already deposited Rs 118 crore with the Supreme Court and has sought approval from its lenders to free up tax refunds of an extra Rs 260 crore to Ericsson. Since the company is in chapter court for debt answer, it wishes lenders' popularity of this sort of transaction.

A source in the know stated RCom has paid Rs 458.7 crore to Ericsson as per the SC directive, but didn't reveal details. However, Ericsson could now not be reached for comments.