Mr. Anil Ambani who is the Chairman of Reliance Communications Ltd was under a debt of Rs 458.77 crore and was in a race against time as the Supreme Court of India had set a four-week deadline in order to pay off debts. Mr. Mukesh Ambani, his elder brother, came to his rescue and showed the world that blood is indeed thicker than water.
Mukesh Ambani paid a total of 550 crores and interest to telecom equipment maker ‘Ericson.’ Thanking elder brother Mukesh Ambani for “timely support,” Anil Ambani 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.”
Anil Ambani was emotional as blood did save him. In one of his statements, Anil said: “My family and I are grateful we have moved beyond the past, and are deeply touched with this gesture.” Also, according to an official spokesperson for RCom, “the requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed today in compliance with the judgment of the Supreme Court.”