In heartfelt message, Anil Ambani thanks brother Mukesh for 'timely support during trying times'

WION Web Team New Delhi, Delhi, India Mar 19, 2019, 09.16 AM(IST)

File photo: The Ambani brothers. Photograph:( Others )

Story highlights

In the message, Anil Ambani elaborated on the 'importance of staying true' to their family value, something, he said, was exhibited by his elder brother's support.

In a "heartfelt" message, industrialist and RCom chief Anil Ambani thanked his elder brother Mukesh Ambani for his "timely support". Anil Ambani's RCom managed to pay back Swedish telecom giant Ericsson on Monday, just a day before a Supreme Court deadline, thereby avoiding a prison term. 

In the message, Anil Ambani elaborated on the "importance of staying true" to their family value, something he said was exhibited by his elder brother's support. He added that he is "grateful" that they have "moved beyond the past".

“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. I and my family are grateful we have moved beyond the past, and are deeply touched with this gesture,” the message read. 

The public feud between the Ambani brothers, over control of the Reliance empire, grew after their father's demise in the year 2002. The differences led to a split in the conglomerate. 

Country's richest man Mukesh Ambani, who controls oil-to-telecoms powerhouse Reliance Industries, appears to have offered some kind of support to ensure Anil paid off a Rs 550 crore debt that was owed to Swedish telecom equipment company Ericsson and had been run up by his telecoms group Reliance Communications. 

The development may mark a watershed moment in the relationship between the two brothers, who carved their separate businesses in 2005 with Mukesh Ambani getting the oil and petrochemicals business and Anil winning control of power, telecoms and financial services. 

The Supreme Court of India had ordered Anil Ambani and two RCom directors to pay Ericsson within four weeks or face a three-month jail term for contempt of court.

The court had found RCom's chairman guilty of contempt of court for failing to pay the Swedish company.

(With inputs from Reuters)