Reliance group chairman Anil Ambani on Tuesday said the group has repaid over Rs 35,000 crore of <a href="https://www.wionews.com/india-news/in-heartfelt-message-anil-ambani-thanks-brother-mukesh-for-timely-support-during-trying-times-204209">debt during the past 14 months</a> and exuded confidence that it would meet all future debt obligations through the ongoing asset monetisation plan.

In a conference call with media, he said the Rs 35,000 crore debt repayment includes debt servicing by Reliance Capital, Reliance Power and Reliance Infra and their respective affiliates.

"The Reliance group has made aggregate debt servicing payments of over Rs 35,000 crore in the 14 months period from April 2018 till May 2019," Ambani said.

These comprise principal repayment of Rs 25,000 crore and interest payment of nearly Rs 11,000 crore he said without offering details.

He claimed that this payment has been funded almost entirely from the proceeds from asset monetisation and that the group is fully committed to meet all its future debt servicing obligation in a timely manner as more asset sales are on.&nbsp;

Reliance group chairman Anil Ambani on Tuesday said the group has repaid over Rs 35,000 crore of debt during the past 14 months and exuded confidence that it would meet all future debt obligations through the ongoing asset monetisation plan.

Reliance group chairman Anil Ambani on Tuesday said the group has repaid over Rs 35,000 crore of debt during the past 14 months and exuded confidence that it would meet all future debt obligations through the ongoing asset monetisation plan. In a conference call with media, he said the Rs 35,000 crore debt repayment includes debt servicing by Reliance Capital, Reliance Power and Reliance Infra and their respective affiliates. "The Reliance group has made aggregate debt servicing payments of over Rs 35,000 crore in the 14 months period from April 2018 till May 2019," Ambani said. These comprise principal repayment of Rs 25,000 crore and interest payment of nearly Rs 11,000 crore he said without offering details. He claimed that this payment has been funded almost entirely from the proceeds from asset monetisation and that the group is fully committed to meet all its future debt servicing obligation in a timely manner as more asset sales are on.

Reliance has paid debt servicing payments of over Rs 35,000 crore: Anil Ambani

The Supreme Court on Wednesday held Reliance Communications chairman Anil Ambani guilty of contempt of court.

The contempt finding came&nbsp;on a plea filed by Ericcson India which has <a href="http://www.wionews.com/india-news/supreme-court-issues-notice-to-anil-ambanis-rcom-over-contempt-petition-by-ericsson-188738">accused Ambani of not clearing dues of Rs 550 crore</a>.&nbsp;Two Reliance directors were also held guilty of contempt.&nbsp;

On Wednesday, a bench comprising Justices RF Nariman and Vineet Saran said Ambani and the two directors would have to pay Rs 435 crore to Ericcson within four weeks. The court added that if they failed to do so, a three-month jail term would follow.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
Visuals from Supreme Court, Delhi: Supreme Court holds Reliance Communication Chairman Anil Ambani and two directors guilty of contempt of court on a contempt plea filed by Ericsson India against him over not clearing its dues of Rs 550 crore. <a href="https://t.co/bDS5VoHGRx">pic.twitter.com/bDS5VoHGRx</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1098092447693828096?ref_src=twsrc%5Etfw">February 20, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The Supreme Court also imposed a fine of Rs 1 crore on all three of them, saying again that if they did not pay up — a one-month jail term would be imposed on them.&nbsp;

The two directors were Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani.&nbsp;

Ambani had in January this year offered to pay Rs 118 crore to Ericsson but the Swedish company's lawyers turned the offer down. The Supreme Court then told Ambani to deposit the money in the court's registry.&nbsp;

On&nbsp;Wednesday, the&nbsp;court directed that Rs 118 crore already deposited by Reliance Group in the apex court's registry be disbursed to Ericsson within a week.

"From undertakings given by Reliance Group's top brass, it appears they have wilfully not paid the amount to Ericsson despite orders and undertakings given," the court said.&nbsp;

The court specified that any unconditional apology given by Reliance needs to be rejected as they have breached the undertaking and order.&nbsp;

The bench said the three Reliance companies did not adhere to the 120-day deadline and the extra 60 days given by the apex court to pay Rs 550 crore to Ericsson.

It said the undertakings given in the court was false to the knowledge of the court and affected the administration of justice.&nbsp;

Ambani, Seth and Virani were present in the courtroom.

(With inputs from PTI)

The Supreme Court on Wednesday held Reliance Communications chairman Anil Ambani guilty of contempt of court. The contempt finding came on a plea filed by Ericcson India which has accused Ambani of not clearing dues of Rs 550 crore.

The Supreme Court on Wednesday held Reliance Communications chairman Anil Ambani guilty of contempt of court. The contempt finding came on a plea filed by Ericcson India which has accused Ambani of not clearing dues of Rs 550 crore. Two Reliance directors were also held guilty of contempt. On Wednesday, a bench comprising Justices RF Nariman and Vineet Saran said Ambani and the two directors would have to pay Rs 435 crore to Ericcson within four weeks. The court added that if they failed to do so, a three-month jail term would follow. Visuals from Supreme Court, Delhi: Supreme Court holds Reliance Communication Chairman Anil Ambani and two directors guilty of contempt of court on a contempt plea filed by Ericsson India against him over not clearing its dues of Rs 550 crore. pic.twitter.com/bDS5VoHGRx — ANI (@ANI) February 20, 2019 × The Supreme Court also imposed a fine of Rs 1 crore on all three of them, saying again that if they did not pay up — a one-month jail term would be imposed on them. The two directors were Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani. Ambani had in January this year offered to pay Rs 118 crore to Ericsson but the Swedish company's lawyers turned the offer down. The Supreme Court then told Ambani to deposit the money in the court's registry. On Wednesday, the court directed that Rs 118 crore already deposited by Reliance Group in the apex court's registry be disbursed to Ericsson within a week. "From undertakings given by Reliance Group's top brass, it appears they have wilfully not paid the amount to Ericsson despite orders and undertakings given," the court said. The court specified that any unconditional apology given by Reliance needs to be rejected as they have breached the undertaking and order. The bench said the three Reliance companies did not adhere to the 120-day deadline and the extra 60 days given by the apex court to pay Rs 550 crore to Ericsson. It said the undertakings given in the court was false to the knowledge of the court and affected the administration of justice. Ambani, Seth and Virani were present in the courtroom. (With inputs from PTI)

Supreme Court holds Anil Ambani guilty of contempt, tells him to pay up or go to jail

reliance-infratel

Reliance Infratel, News on Reliance Infratel, stories on Reliance Infratel, articles on Reliance Infratel, Reliance Infratel stories at Wion, Reliance Infratel news, Reliance Infratel latest news

reliance infratel

Reliance has paid debt servicing payments of over Rs 35,000 crore: Anil Ambani

Supreme Court holds Anil Ambani guilty of contempt, tells him to pay up or go to jail