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Business EconomyPosted at: Mar 18 2019 10:54PM


Anil Ambani pays Ericsson before deadline, thanks elder brother for 'timely support'

New Delhi, Mar 18 (UNI) RCOM Chairman Anil Ambani on Monday paid Swedish telecom equipment maker Ericsson Rs 458.77 crore in dues in compliance with the Supreme Court's deadline.
A statement from Reliance Communications quoted Anil Ambani as saying ''The requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed today in compliance of the judgment of the Hon'ble Supreme Court.''
Mr Anil D Ambani said thanked his elder brother for standing with him during difficult times and said he was touched by the gesture.
''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 grateful and touched with this gesture,'' he said.
Last month, the Supreme Court had ordered Anil Ambani's Reliance Communications (RCom) and two of its directors to pay Ericsson its dues within four weeks or face a three-month jail term for contempt of court.
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