Ericsson dues: Mukesh Ambani bails out Anil, but RCom-Jio deal off the table

A day before the expiry of the Supreme Court-set deadline, elder brother Mukesh Ambani bailed out younger sibling Anil Ambani in paying off Rs 458.77 crore to Ericsson India, thus clearing the outstanding dues and fending-off a possible jail term for the younger brother. The last date of making the payment was March 19.

“The requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed on Monday in compliance of the judgment of the Hon’ble Supreme Court,” an RCom spokesperson said.

While RCom did not state the source of funds for making the payment, it hinted that the help came from the elder brother Mukesh Ambani. “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.