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The Supreme Court today allowed Reliance Communications to pay its dues to Ericsson by December 15.
A Bench of Justices Rohinton Nariman and S Abdul Nazeer passed the order after hearing Senior Advocates Dushyant Dave and Kapil Sibal who appeared for Ericsson and Reliance Communications respectively.
Two separate interim applications were heard by the Court today. One was filed by Reliance Communications seeking an extension of time for making payments.
Ericsson, on the other hand, had filed a contempt petition seeking initiation of contempt action against Reliance for disobeying Supreme Court’s order of August 3, 2018. Ericsson had also prayed that Anil Ambani be restrained from leaving the country.
On August 3, the Supreme Court had ordered Reliance to pay Rs. 550 crore to Ericsson to settle the 1,500 crores owed by Reliance. The amount was to be laid before September 30.
Reliance had not complied with the same prompting Ericsson to approach the Supreme Court.
The Court after hearing Ericsson and Reliance ordered that the amount be paid before December 15 this year. In case of default, a penalty at 12 percent will have to be paid, which will kick off from the original due date of September 30.