Brother Mukesh Ambani Saves Anil Ambani From Imprisonment

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Brother Mukesh Ambani Saves Anil Ambani From Imprisonment

Anil Ambani thanked brother Mukesh Ambani for timely support and for forgetting the bitter past.

NEW DELHI, Tuesday, March 19, 2019–

Industrialist Anil Ambani, who avoided jail by paying back Swedish telecom giant Ericsson a day before a Supreme Court deadline, profusely thanked elder brother and India’s richest man Mukesh Ambani for his “timely support”.

Anil Ambani’s debt-hit Reliance Communications paid Rs.458.77-crore to Ericsson on Monday. Last month, the top court had ordered Reliance Communications or RCom and two of its directors to pay Ericsson its dues within four weeks or face a three-month jail term for contempt of court. Earlier, Anil Ambani’s RCom had filed for bankruptcy.

Thanks To My Respected Elder Brother – Anil Ambani

“My sincere and heartfelt thanks to my respected elder brother, Mukesh, and (sister-in-law) 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,” a late-night statement from Anil Ambani read. It said the support had come from his brother in “trying times”.

The statement from Anil Ambani, whose businesses in the telecom and power sectors ran into heavy debt over the years, also said that he and his family were “deeply touched” that they had moved “beyond the past”.

The Ambani Brothers Splitted After Demise Of Father In 2002

The brothers were caught in a bitter feud after their father, Dhirubhai Ambani, died without leaving a will in 2002. Although they eventually split his businesses, with Anil Ambani taking power and telecom and Mukesh Ambani keeping the oil and petrochemical businesses, the rift continued over a business commitment between the two.

The Supreme Court had held Anil Ambani in contempt in February, warning that he and two Reliance Communications employees will be sent to prison if they fail to clear Ericsson’s dues by March 19.