Thursday, December 3, 2015

ROYALTY DEFAULT : MICROMAX PROMOTERS ISSUED WARRANT

India based handset maker Micromax's directors have been issued bailable warrants by  Delhi High Court. The directors are - Sumeet Kumar, Rahul Sharma and Vikas Jain — in a matter of contempt on its earlier order of November 2014 relating to payment of royalty to Swedish technology major Ericsson on the sale of its handsets. 

It also restrained Micromax’s subsidiary firm YU Televentures from importing and selling mobile handsets and other devices that infringe Ericsson’s registered patents without paying royalty.

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