‘Deeply grateful’: Anil Ambani thanks his brother Mukesh Ambani for paying Ericsson dues

Asia’s richest man Mukesh Ambani has helped his younger brother avert a stint in jail, stepping in to make an $80 million payment for his sibling Anil whose telecom-to-infrastructure empire is struggling under the weight of debt.

The embattled former billionaire, Anil Ambani, thanked his brother Mukesh, and his sister-in-law, after Reliance Communications Ltd. completed the required ₹5.5 billion ($80 million) payment to the local unit of Ericsson AB for past maintenance services. Repeated failures to pay and Ambani’s personal guarantee landed him in trouble in February, with the top court giving him a month’s notice to comply or spend time in prison.