Anil Ambani, convicted of contempt from the Supreme Court in the Ericsson case can go to jail

Chief of Reliance Group, Anil Ambani  has suffered a major setback from the Supreme Court. He may also have to go to jail along with two directors of his company group.

 The Supreme Court has convicted two of its directors, incl…

Chief of Reliance Group, Anil Ambani  has suffered a major setback from the Supreme Court. He may also have to go to jail along with two directors of his company group.

 The Supreme Court has convicted two of its directors, including Anil Ambani, on the petition of Ericsson India, for contempt of contempt.
 The case is to be given to the Ericsson India for the outstanding amount of Rs 550 crores. If Ambani does not pay this amount in four weeks then he may have to go to jail.

Telecom equipment maker Ericsson had filed three contempt petitions in the Supreme Court for not paying the arrears against Reliance Group chairman Anil Ambani and others.

The court asked the two directors of Anil Ambani and Reliance Group to pay Ericsson 453 crores within four weeks.

 It also said that if the payment is not made within the time limit, then the three will be given three-three months jail.

The Supreme Court also imposed a fine of Rs 1 crore on all three for defying the order. If the amount of penalty is not deposited in one month, then they will have to suffer a one-month jail sentence.