MUMBAI: Industrialist Anil Ambani released a statement, thanking Mukesh Ambani after the latter decided to settle his younger brother's huge debt of 458.77-crore to Swedish telecom company Ericsson, a day before the deadline. He thanked Mukesh Ambani for his "timely support in trying times".
"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.
Earlier the Supreme Court had put two options before Anil Ambani, either to pay Rs. 453 crores to Ericsson India or go to jail for three months, as he was held guilty of contempt by the top court. The court added that Anil Ambani should pay the entire amount to the Swedish company within four weeks.
Reliance Telecom Chairman Satheesh Seth and Chaya Virani, Reliance Infratel Chairperson, were also held guilty of contempt by the top court and fined Rs. 1 crore each which they should pay within one month.
Ericsson India had filed a suit earlier after the Reliance Telecom failed to give them Rs 550 within the stipulated time as per the court ruling. They alleged that Anil Ambani is doing injustice to them though he has money to invest in the Rafale deal. Anil Ambani had told the top court that, with the failure of an assets sale deal with Mukesh Ambani's Reliance Jio, his company had entered insolvency proceedings.
Ericsson demanded that the contempt of court should be filed against Anil and his directors and they must be behind the bars till they clear their dues while calling for actions to block them going outside India. Ericsson had earlier, deducted dues to Rs.550 crore from the initial 1600 crore due to the settlement done in the presence of the court.
"Anil Ambani and others breached their undertaking," the court said, calling it "willful disobedience" of its order that they should repay Swedish Telecom Equipment maker Ericsson. In a statement, a Reliance Communication Limited spokesperson said: "We respect the Supreme Court judgement. The RCOM Group shall comply with the same."
