The top court stated that Ambani and other two directors have to pay Rs 453 crore to Ericsson India within 4 weeks and if they fail to pay the amount, three months’ jail term will follow. The court also imposed a fine of Rs 1 crore each on them and if the amount is not deposited within a month, then 1-month jail will be awarded.
Top gainers in the Sensex pack include ONGC, Vedanta, Yes Bank, Bajaj Finance, Axis Bank, Sun Pharma, L&T, Tata Steel, HDFC, Reliance and Bharti Airtel, rising up to 2.12 per cent. On the other hand, HCL Tech, Hero MotoCorp, Bajaj Auto and M&M were the losers, falling up to 0.76 per cent.
Saudi Crown Prince Mohammed bin Salman’s visit to India starting today is expected to be watershed in the time-tested bilateral ties and presents a monumental opportunity to expand collaboration between the two long-time partners in many vital sectors.
Expectations about the economic and investment fallout of the royal visit have skyrocketed following the $20 billion deals the Saudi Crown Prince signed in Pakistan ahead of his delegation’s visit to India – the kingdom’s fourth largest trade partner after China, the US and Japan.