Anil Ambani, chairman of the debt-ridden telecom firm Reliance Communications Ltd (RCom),payed the Supreme Court ruled amount of 550 crore to Ericsson company.
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 judgement. The Ericsson company also acknowledged that they received 458.7 crore.
Whereas,Anil Ambani thanked his brother for standing by his side throughout the crisis.“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,” he said in a statement.
In February, the Supreme Court had found Anil Ambani guilty of contempt of court for wilfully 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.
The apex court, in February, held Ambani in contempt for not paying Ericsson’s dues despite having the money to do so. As per Supreme Court’s orders, March 19 was the last day to make the payment which included penal interests.