Wednesday, 20 March 2019

Indian tycoon Ambani pays debt after court threatened jail

Indian tycoon Ambani pays debt after court threatened jailIndian tycoon Anil Ambani has settled a multi-million debt with Sweden's Ericsson, the company said Monday, after judges threatened the billionaire with jail if he did not pay his dues. The Supreme Court in February found that Ambani, 59, had refused to pay telecom giant Ericsson 5.5 billion rupees ($77 million), as previously ordered by India's top court. The judges warned that Ambani would be jailed for three months if 4.5 billion rupees were not stumped up within a month.




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