Anil Ambani Thanks Elder Brother Mukesh For Last-Minute Save

Anil Ambani Thanks Elder Brother Mukesh For Last-Minute Save

Anil Ambani Thanks Elder Brother Mukesh For Last-Minute Save

New Delhi: A day before the Supreme Court's deadline, the Industrialist Anil Ambani, avoided jail by paying back Swedish telecom giant Ericsson. The Industrialist had profusely thanked elder brother and India's richest man Mukesh Ambani for his "timely support".

On Monday, the Reliance Communications had paid Rs. 458.77-crore to Ericsson. The Top Court had Last month ordered Reliance Communications and two of its directors to pay Ericsson its dues within four weeks or face a three-month jail term for contempt of court.

A late-night statement from Anil Ambani stated, "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." It said the support had come from his brother in "trying times".

The statement from Anil Ambani, also said that he and his family were "deeply touched" that they had moved "beyond the past".

After the death of their father Dhirubhai Ambani, who passed away without leaving a will in 2002, the brothers were caught in a bitter feud. 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 first signs of a thaw came about when their mother Kokilaben Ambani brokered peace between the two in May 2010. A few months later, Anil Ambani withdrew a Rs. 10,000-crore defamation suit filed against his brother over comments published in a New York Times article. Earlier this month, Anil Ambani and his wife - Tina - attended the wedding of Mukesh Ambani's son Akash with Shloka Mehta in Mumbai along with a host of high-profile personalities. He had earlier attended the wedding of his niece, Isha, with industrialist Anand Piramal.

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