PSU Watch logo

| Sale of Central Electronics Ltd reaches concluding stage, financial bids received |   | Mumbai metro to extend operation hours, increase frequency from Oct 17 |   | Indigenisation push: 7 defence CPSEs created |   | CIL to refrain from holding any e-auction till situation stabilizes |   | Coal output from captive mines to go to power sector |  

Younger Brother Says Thank You To The Elder

While it is unclear how Mukesh helped Anil, he seems to have provided some kind of support to his younger brother to pay off a debt of Rs 550 crore to Ericsson

Mumbai: Brotherly love seemed to have returned to Reliance after billionaire Anil Ambani sent a "heartfelt" message, thanking his elder brother Mukesh Ambani for his "timely support". This comes after the Reliance Communications Ltd (R Com) chief possibly staved off a jail term by paying its dues of Rs 462 crore to Ericsson. Anil had been threatened by the Supreme Court with a prison term for not paying the Swedish telecom equipment manufacturer its dues by March 19.

“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 touched with this gesture,”
Anil spoke on the "importance of staying true" to their family values, adding that he is grateful that the family have moved beyond the past. “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 touched with this gesture,” the message read.

A split in the conglomerate

Following their father’s death in 2002, the public feud of the Ambani brothers over control of the Reliance resulted in a split in the conglomerate. Mukesh Ambani, the richest man in the country, controls oil-to-telecoms powerhouse Reliance Industries.

Was Anil bailed out by Mukesh?

The apex court had held Anil Ambani in contempt last month for not paying Ericsson’s dues even though he had enough money to pay it off. The SC threatened to send him, along with the chairmen of Reliance Telecom and Reliance Infratel— Satish Seth and Chhaya Virani— to pay the dues within four weeks or face a three-month prison sentence for contempt of court. While it is unclear how Mukesh helped Anil, he seems to have provided some kind of support to his younger brother to pay off a debt of Rs 550 crore.