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Indian billionaire settles multimillion debt with Sweden's Ericsson

File photo of Ericsson's headquarters in Sweden. Photo: Maja Suslin/TT

Published: 18.Mar.2019 17:38 hrs

Indian businessman Anil Ambani has paid a multimillion debt to Sweden's Ericsson, after judges threatened him with jail.

The Supreme Court in February found that Ambani, 59, had refused to pay telecom giant Ericsson 5.5 billion rupees ($77 million), as previously ordered by India's top court.

The judges warned that Ambani would be jailed for three months if 4.5 billion rupees were not stumped up within a month.

Read full article on The Local

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