Billionaire Mittal Wins Temporary Reprieve in India Court
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Billionaire Sunil Mittal and his company Bharti Airtel Ltd. won temporary reprieves in a legal battle over airwaves that’s fueled a 95 percent drop in overseas investment into the world’s second-largest wireless market.
India’s Supreme Court yesterday ordered a lower court to halt proceedings against Mittal, 55, until April 15, when it will next hear his challenge to charges relating to Bharti’s purchase of mobile-phone airwaves beyond the legal limit. Bharti, the nation’s biggest wireless operator, also won a reprieve until April 11 in a case over roaming agreements for third-generation services.