[ad_1]
New Delhi: The Supreme Court on Tuesday asked Reliance Communication Ltd to clear the 550 CRS fees to telecom equipment manufacturer Ericsson India by December 15, stating that the delay in payment would attract interest of 12% per annum. 19659002] A judge presided over by Judge RF Nariman said that it was the last opportunity offered to the comil to offset the settlement amount.
He stated that Ericsson could revive his plea of contempt against Reliance if the settlement amount was not paid by December 15.
Leading counsel, Kapil Sibal, appearing for Reliance, said the company was waiting for approval from the telecommunications ministry to sell its spectrum, after which it would pay Ericsson.
Leading counsel, Dushyant Dave, appearing for Ericsson, said that the argument of the Reliance is a "complete bogey".
Ericsson filed a plea in the Supreme Court to obtain a contempt action against COM Chairman Anil Ambani and others for failing to pay Rs 550 crore towards settlement-delivery at the company by the end of September.
Image of representation. Reuters
The company alleged that RCom "deliberately and knowingly" defied the Supreme Court's order of 3 August and the commitment it made to pay Rs 550 before the end of September this year.
Proceedings for contempt of senior officials of the Republic, including Ambani.
"They do not respect the right of the nation and have abused the right to a fair trial," said the plea.
The Supreme Court approved the Settlement Agreement. and Ericsson India Pvt Ltd as a result of a payment dispute and asked the telecommunications company to pay Rs 550 crore to the Indian branch of the Swedish company by September 30.
Ericsson India, which had signed a 7-year contract in 2014 to operate RCom's national telecommunications network, alleged that it did not receive the royalty of more than 1,500 crores and challenged the firm in debt before the Tribunal National Corporate Law Call (NCLAT).
The Supreme Court took cognizance of the interim order of May 30th. of the NC LAT and noted that Ericsson India was willing to settle its debt of more than 1,500 crore for an amount of 550 crore rupees which was to be paid by the Com within 120 days.
He authorized the COM to sell badets across the spectrum. , optical fiber, telecommunications towers, mobile network networks and some real estate badets, for a total value of approximately 25,000,000,000 RRC.
[ad_2]
Source link
