Indian court orders Anil Ambani to pay Ericsson $77M

Setopati

2019-02-20 17:47:14

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.

Published Date: 2019-02-20 17:47:14

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