Reliance Communication (RCom) Chairman Anil Ambani told the Supreme Court on Wednesday that Reliance Jio, the business interest of brother Mukesh Ambani, gave only Rs 780 crore out of the ambitious Rs 18,100 crore-deal signed between them that failed to take off.
With Anil Ambani owing Rs 550 crore to Ericsson India that he failed to honour despite orders passed by the Supreme Court, the latter had dragged the junior Ambani to court in a contempt proceeding, the hearing of which concluded and order reserved on Wednesday.
Making an appearance in court for the second day in a row, Ambani, through his lawyer senior advocate Mukul Rohatgi, informed the court that no contempt was made out against him as the deal with Jio was an experiment that didn't work out. The bench of Justices RF Nariman and Vineet Saran questioned Rohatgi over the company's disclosure in the stock exchange of having received a sum of Rs 5,000 crore from the sale of assets to Jio, but Rohatgi denied the same.
Filing an affidavit to this effect, he said that besides Rs 780 crore, none of the three companies of Anil Ambani (RCom, Reliance Telecom and Reliance Infratech) received a single penny more. Ericsson India argued that Ambani's other group companies were in profit yet it dishonoured the court's direction.
