Calling this a strategic fit, S N Subrahmanyan, CEO & Managing Director said that, this acquisition is part of our strategy to deliver industry-leading IT services to our clients worldwide.
"The requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed today in compliance of the judgment of the Supreme Court," a RCOM spokesperson stated.
A provisional arrest warrant against Nirav Modi, a prime accused in the multi-crore PNB scam, has been issued by the Westminster court in London. However, strict civilian laws in the United Kingdom might allow him to get bail instantly.
A two-member bench headed by Justice S J Mukhopadhaya directed ArcelorMittal to deposit the amount with the Committee of Creditors (CoC).
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