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Tags: APFN | AS | India | Ericsson

Indian Court Orders Top Industrialist to Pay Ericsson $77M

Wednesday, 20 February 2019 06:42 AM

NEW DELHI (AP) — India's top court has held industrialist Anil Ambani and two of his directors guilty of contempt of court and ordered them to pay 5.5 billion rupees ($77.29) million owed to Swedish telecom equipment maker Ericsson.

Justices R.F. Nariman and Vineet Saran said Wednesday that the three each will be jailed for three months if they fail to pay 4.5 billion rupees of that amount within four weeks.

The judges said RCom chairman Anil Ambani and the two directors had violated the court's earlier order to pay Ericsson.

The Press Trust of India news agency said Ambani's attorney Mukul Rohatgi promised to comply with the court's order.

The Swedish firm last year sought the court's help in getting paid for managing and operating RCom's network in line with a 2014 agreement.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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India's top court has held industrialist Anil Ambani and two of his directors guilty of contempt of court and ordered them to pay 5.5 billion rupees ($77.29) million owed to Swedish telecom equipment maker Ericsson.Justices R.F. Nariman and Vineet Saran said Wednesday that...
APFN,AS,India,Ericsson
133
2019-42-20
Wednesday, 20 February 2019 06:42 AM
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