Anil Ambani, chairman of the debt-ridden telecom firm Reliance Communications Ltd (RCom), 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 on Monday 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.
As pe news18,
RCom, which owed Ericsson a one-time settlement of Rs 550 crore plus interest, had already deposited Rs 118 crore with the Supreme Court in February. The Swedish firm signed a deal in 2014 to manage and operate RCom’s network and last year approached the court over the unpaid dues.
“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.
In February, the Supreme Court had found Anil Ambani guilty of contempt of court for willfully 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 to make the payment expired on Tuesday.