Indian tycoon Anil Ambani settles debt with Sweden’s Ericsson
18 March 2019 - 23:15Indian tycoon Anil Ambani has settled a multimillion-dollar debt with Sweden's Ericsson, the company said Monday, after judges threatened the billionaire with jail if he did not pay his dues.
The judges warned that Ambani would be jailed for three months if 4.5-billion rupees were not stumped up within a month. "We've received complete payments, as mandated by the Supreme Court, today from Reliance Communications," a spokesperson for Ericsson said on Monday, without elaborating on the details of the settlement.Reliance Communications could not be reached for comment.
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