Meeting the four-week deadline set by the Supreme Court to avert a jail term for its chairman Anil Ambani, Reliance Communications (RCom) said Monday it had paid Rs 550 crore and interest to Swedish telecom equipment maker Ericsson. Following the payment, Anil thanked his brother Reliance Industries Limited chairman, Mukesh, for his "timely support".
"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 said in a statement.
The deadline for RCom to make the final payment was March 19. The Supreme Court had warned Anil that he would face three months jail if its orders were not followed.
On social media, users were amused by the ease with which Anil was able to get Rs 550 cr, and remarked about the benefits of having a brother who is the richest Indian.
- Devang Shetye (@DevangSays) March 19, 2019
Vijay Mallya : mai bhi aapke bhai jaisa hun pic.twitter.com/OFL2VDLjwF
- Pakchikpak Raja Babu (@HaramiParindey) March 19, 2019
Ambani Family right now pic.twitter.com/OLDrZs28y2
- Chowkidar R E B E L (@Gadhvilaxman) March 18, 2019
- Kaju Katli (@MonkNxtDoor) March 18, 2019
What if Ericsson comes up with an IPL team and Mumbai Indians beat them.
Balance Sheet Tally.
- Godman Chikna (@Madan_Chikna) March 18, 2019
Anil Ambani when in financial trouble. pic.twitter.com/zUtz2LLLVH
- .. (@itsdhruvism) March 18, 2019
- atharva khandve (@atharva_khandve) March 18, 2019
- Anant (@_Aawarahun) March 18, 2019
mukesh ambani paid dues of anil ambani and saved him from bankruptcy. sooraj barjatya has found the perfect story for his upcoming film.
- Sunil- The cricketer (@1sInto2s) March 18, 2019
Mukesh Ambani saves Anil from jail, helps him clear Rs 453 crore Ericsson dues,
Idhar mera bhai 4 mahine se meri auto leke bhaag gaya hai
- Autowaala (@Autowaala) March 19, 2019
Anil ambani – apne kyu bachaya muje?
Mukesh ambani – pic.twitter.com/eWQLjzyLxh
- Chowkidar Mask (@Mr_LoLwa) March 18, 2019
Mukesh Ambani paid 550 cr fine on behalf on Anil Ambani. My elder brother forgets his wallet in his own birthday party and I have to pay for it.
- Sagar (@sagarcasm) March 18, 2019
Mukesh Ambani paid 550 cr fine on behalf on Anil Ambani. Looks like Akash & Anant will not get this month’s pocket money. #MukeshNitaSaveAnil
- Roshan Rai (@RoshanKrRai) March 18, 2019
Ericsson had dragged Ambani to court after RCom failed to clear its dues. In 2014, Ericsson had signed a deal with RCom to operate its nationwide telecom network.
After RCom failed to pay Ericsson, it moved an insolvency petition in the National Company Law Tribunal (NCLT) to recover pending dues of Rs 1,150 crore - it was admitted in May last year.