Anil Ambanis assets

End game: Ericsson seeks auction of Anil Ambani's assets for disobedience of Supreme Court orders






Ericsson India on Tuesday filed another contempt application seeking freezing and auctioning of personal assets of Reliance Communications chairman Anil Ambani and others for "willfull and malicious disobedience" of the Supreme Court's orders that asked him to repay dues worth Rs 550 crore to the Swedish telecom equipment maker.
The apex court bench led by justice RF Nariman is likely to hear the matter on February 12, the day when Anil Ambani and Reliance Telecom chairman Satish Seth and Reliance Infratel chaiperson Chhaya Virani are supposed to be present before the apex court.
The SC had last month sought response from Ambani and others on the Swedish telecom equipment manufacturer's plea seeking that the chairman be "detained in civil prison" and restrained from travelling abroad unless the payment is made. After RCom failed to pay for its supplies procured from Ericsson in 2014, the latter initiated insolvency proceedings against it before NCLT to recover Rs 1,150 crore. Subsequently, the two parties made an out of court settlement by which RCom was required to pay Rs 550 crore.