“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. I and my family are grateful we have moved beyond the past, and are deeply touched with this gesture,” Anil Ambani said in a statement.
Today was the last day of the deadline given to Anil Ambani from Supreme Court to pay off the dues to Ericsson or the debt-laden businessman had to face a jail term of around 3 months. Thought the statement issued by RCom chief did not have a clear mention of his elder brother giving him the money, but a special thanks to both Mukesh Ambani and his wife Nita Ambani was given. Interestingly, the statement also confirmed that Reliance Communications has made a payment of Rs 550 crore and interest thereon to Ericsson, in compliance with the SC judgement.
Recently, RCom called off the sale of its telecom assets to Mukesh Ambani-controlled Reliance Jio Infocomm, citing failure to get approvals from lenders and the government. Ericsson, in 2017, had moved the apex court under Insolvency and Bankruptcy Code (IBC) against RCom alleging that the telecom company has not paid its dues of nearly Rs 1,500 crore after signing a seven-year deal in 2013 to operate and manage its nationwide network.
In December 2017, RCom had signed a blockbuster deal with Jio for the sale of wireless spectrum, tower, fibre and media convergence nodes assets, the proceeds of which were to be used to pare its debt. However, owing to several litigations, the deal never took off. On Monday, the two groups called off the deal, citing delays in approvals from government and lenders.