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INDIAN (B)

INDIAN (B)

Threat of jail caps a long fall for Anil Ambani

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On February 20, Supreme Court said that the Reliance Group’s phone unit had disobeyed a ruling to pay about $77 million owed to the local subsidiary of supplier Ericsson AB, adding that the tycoon will personally face three months of jail unless the payments are made within four weeks. Ambani’s group said it will comply with the order and make the payments within the required time.



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