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Anil Ambani Avoids Jail Term , Pays Off Ericsson Dues Courtesy Mukesh Ambani

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In a huge sigh of relief for Anil Ambani after he was going through tense time for last one month. In February , the Supreme Court had found Anil Ambani guilty of contempt of court for wilfully failing to pay Ericsson.

The court had ordered Anil Ambani and two RCom directors to pay Ericsson the dues within four weeks or face a three-month jail term for contempt of court. The deadline was March 19.

But a timely help from elder brother Mukesh Ambani bailed out Anil . For helping him out of the crisis, Anil thanked his elder brother Mukesh Ambani, chairman of Reliance Industries Ltd, and Nita Ambani for their help in paying dues to Swedish company Ericsson, which confirmed it has received Rs 458.77 crore from RCom.

An RCom spokesperson stated that the requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed in compliance with the Supreme Court judgment.

“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 their strong family values by extending this timely support. I and my family are grateful and deeply touched with their gesture,” Anil Ambani said in a statement.

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