Wed, Feb 20, 2019
India’s Supreme Court on Wednesday found Anil Ambani, chairman of debt-laden Reliance Communications (RCom), guilty of contempt of court for wilfully failing to pay 5.5 billion rupees ($77.29 million) to telecom equipment maker Ericsson. The court ordered the billionaire and two RCom directors to pay 4.5 billion rupees to Ericsson within four weeks or risk a three-month jail term, according to a ruling from a two-member bench headed by Supreme Court judge Rohinton Fali Nariman. The RCom had previously deposited more than 1 billion rupees with the court. In a statement, the Indian telco said it respected the ruling and “shall comply with the same”.
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Fri, Dec 01, 2017
Anil Dhirubhai Ambani, chairman of ADAG Group and Reliance Communications is an Indian business magnate. His real time net worth has been as on December 1, 2017 stood at $ 2.4 billion as per Forbes data. He is also the younger sibling of Mukesh Ambani, the richest man in India.
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