Mukesh Ambani who is considered to be one of the richest Indians paid a whooping amount of Rs 453 Crores in the form of dues to Ericsson and saved his brother Anil Ambani from going to jail. Let’s understand the details of this case. Mukesh Ambani helped his younger brother by clearing the dues of Swedish equipment maker company Ericsson. The Supreme Court of India had given a decision on 20th February that if Anil Ambani failed to pay the dues to Ericsson within four weeks then he will have be behind bars for three months.
An Ericsson spokesperson also confirmed that they had received the full payment from Reliance communications (Rcom) on Monday. The last date of making the final payments was 19th March 2019. Ericsson had moved to court in 2017 alleging that Anil Ambani owned Rcom had not paid its dues of around Rs 1,600 Crore after signing a deal back in 2013 in order to operate, maintain and manage the telecom operator’s network. Repeated failure by Anil Ambani in clearing the dues landed him in trouble when Supreme Court held him in contempt.
Rcom is a telecom operator company owned by Anil Ambani which is almost on the verge of bankruptcy. This battle continued for 18 long months during which Swedish equipment maker had claimed dues for its maintenance.
Mukesh Ambani saves brother Anil Ambani from going to jail
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