Mukesh Ambani comes to the rescue of his brother with Ericsson dues
As Tuesday was the deadline for Anil Ambani’s Reliance Communications to clear Rs 580 crore due to Ericsson, the Swedish equipment maker, Mukesh Ambani came to the rescue of his younger brother by paying the money owed on Monday.
The reliance communications have cleared dues in the last moment with the timely help from Mukesh and his wife Nita. On this note, Anil thanked his brother and sister-in-law Nita in a statement which read as follows: “My sincere and heartfelt thanks to my respected elder brother, Mukesh, and Nita, for standing by me during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support.” He also said that he and his family are grateful that he had moved beyond the past, and was deeply touched with the gesture.
A statement was released from RCom spokesperson which said that a payment of Rs 550 crore, plus interest, has been paid to Ericsson, as per the order of the Supreme Court. Anil would have been served with a three-month jail term along with two other Reliance employees.
Reliance Communications has also terminated the deal worth Rs.17,000 crores of selling telecom assets transfer agreement to Mukesh Reliance's Jio as they failed to receive approval from the government. The Anil Ambani-owned operator is also facing contempt charges from minority shareholders of Reliance Infratel.
The two brothers have split the Ambani’s properties upon their father’s death after fighting in the court for a few months. However, the prompt help from the elder brother has restored the faith in the family system.