Anil Ambani, Chairman of Reliance Communications, has thanked Reliance Industries Chairman, Mukesh Ambani and Nita Ambani for their support regarding payment of dues to Ericsson as all the RCOM’s outstanding to the Swedish company stand cleared.
“The requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed today in compliance of the judgment of the Supreme Court,” an RCOM spokesperson said.
Acknowledging his elder brother and RIL Chairman Mukesh’ support, Anil D. Ambani, Chairman, RCOM, said: “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 added.
In a major setback for the Indian businessman, the Supreme Court earlier in February held Anil Ambani and two directors guilty of contempt of court on a contempt plea filed by Ericsson India against him over not clearing its dues of Rs 550 crore.
Calling it “willful disobedience” of its order, the court said, “Anil Ambani and others breached their undertaking”.
The court had on October 23 asked RCom to clear the dues by December 15, 2018, saying delayed payment would attract an interest of 12 per cent per annum.
The court ordered businessman Mukesh Ambani’s brother Anil and two other accused directors to pay Rs 453 crore to Ericsson India within 4 weeks, failing of which would call a three-month jail term.
Telecom equipment maker Ericsson had filed three contempt applications against Reliance Group chairman Anil Ambani and others for not clearing its dues.
The plea by Ericsson had sought that the court direct Ambani and the lenders’ forum to hand over the Rs 550 crore with interest from sale proceeds as per the October 23 order.