Tag Archives: Indian tycoon Ambani pays debt after court threatened jail

Indian tycoon Anil Ambani has settled a multi-million debt with Sweden’s Ericsson, the company said on 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 Indian rupees ($77 million), as previously ordered by India’s top court. …

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