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India Threatens to Send One of Its Billionaires to Jail

  • Anil Ambani ordered to pay dues to Ericsson, or go to prison
  • India faces mountain of bad debt, with $190 billion gone sour
Anil Ambani
Anil AmbaniPhotographer: Qilai Shen/Bloomberg
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In a remarkable warning to India’s elite, the nation’s top court said it will put one of the country’s most prominent business executives behind bars unless his group pays its dues.

It’s the latest twist in a dispute that helped push billionaire Anil Ambani’s mobile-phone carrier into bankruptcy proceedings and cast an unflattering light on the Indian mogul, who’s the younger brother of Asia’s richest man.