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“Deeply Touched”: Anil Ambani Thanks Brother Mukesh Ambani For the Last-Minute Save

Ambani

Anil Ambani, whose business in the telecom and powers ran into huge debt throughout the years, stated that he and his family were “deeply touched” that they had moved “beyond the past”.

Industrialist Anil Ambani, who fended off prison by paying back Swedish telecom giant Ericsson a day before the Supreme Court due date, copiously expressed gratitude towards elder brother and India’s richest man Mukesh Ambani for his “timely help”.

Anil Ambani’s debt hit Reliance Communications paid Rs.458.77-crore to Ericsson on Monday. A month ago, the top court had ordered Reliance Communications or RCom and two of its chiefs to pay Ericsson its dues in about a month or face a three-month jail term for contempt of court.

“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 business in the telecom and power sector ran into heavy debt throughout the years, also said that he and his family were “deeply touched” that they had moved “beyond the past”.
Anil Ambani
The brothers had a bitter conflict after their dad, Dhirubhai Ambani, passed away without leaving a will in 2002. In spite of the fact that they in the long run split their business, with Anil Ambani taking power and telecom and Mukesh Ambani keeping the oil and petrochemical business, the split continued over a business responsibility between the two.
The primary indications of a thaw came about when their mom Kokilaben Ambani handled peace between the two in May 2010. A couple of months after, Anil Ambani withdrew 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 better half-Tina – went to the wedding of Mukesh Ambani’s son Akash with Shloka Mehta in Mumbai along with a large group ofhigh-profile personalities. He had previously attended the wedding of his niece, Isha, with industrialist Anand Piramal.

The Supreme Court had held Anil Ambani in contempt in February, warning that he and two Reliance Communications directors will be sent to jail on the off chance that they fail to clear Ericsson’s dues by March 19.