NEW DELHI | Indian court orders top industrialist to pay Ericsson $77M

20Feb - by Editor - 0 - In STL.News

NEW DELHI (AP) — India’s Supreme Court on Wednesday found Anil Ambani, the chairman of Reliance Communications, 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 the three will be jailed for three months if they fail to pay 4.5 billion rupees of that amount within four weeks.

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