Indian court orders top industrialist to pay Ericsson $77 million

Indian court orders top industrialist to pay Ericsson $77 million

India’s Supreme Court on Wednesday found Anil Ambani, chairman of Reliance Communications, guilty of contempt of court for wilfully failing to pay 5.5 billion rupees ($77.29 million) to Ericsson. The court has ordered the billionaire to pay 4.5 billion rupees to Ericsson within four weeks or risk a three-month jail term.

Timothy
Timothy
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