Last month, the Supreme Court had convicted Reliance Communications Chairman Anil Ambani for deliberately defaming the court for violating his order and not paying the outstanding payment to Ericsson, a company making telecom equipment.
Due to the debt burden, Reliance Communications (RCOM) has paid Ericsson’s outstanding payment of 550 crores with interest. Anil Ambani, who has been convicted of contempt by the Supreme Court, has escaped from going to jail and it is all possible with the help of his elder brother Mukesh Ambani. Anil’s brother Mukesh and sister-in-law Nita performed well in his difficulty.
After paying Ericsson dues, Anil Ambani has expressed his gratitude towards his elder brother and sister-in-law. Anil said, “I thank my respected elder brother, Mukesh, and sister-in-law, Nita, for standing and helping me in this difficult time. By helping me on time, he has highlighted the strong values of the family and the importance of the family. I and my family are very grateful that we have gone ahead with the old things and their behaviour has influenced me in the end. “
The court strictly said that Anil Ambani will have to pay Ericsson 453 crore rupees in 4 weeks. Supreme Court said that Shankha Virani, chairman of Ambani, Reliance Telecom, Satish Seth and Reliance Infratel, has violated the assurances given in the court and the orders related to it. If they do not pay in due time, they will have to face the sentence of three months in jail. Along with Anil, RCOM’s two units were facing the threat of being jailed for the chairman Shadow Vrani and Satish Seth. However, RCom paid Ericsson dues of Rs 458.77 crores just a day before the deadline.
Immediately after paying Ericsson, Rcom announced the end of the deal in December 2017 for the sale of telecommunications assets with Reliance Jio. The deal was of Rs 17,000 crore. About 15 months ago, Anil Ambani had contracted the sale of Reliance Communications to the company of his elder brother Mukesh Ambani.
