Reliance Communications chairman Anil Ambani confirmed that the telco has repaid Swedish telecom gear maker Ericsson its dues and thanked his brother Mukesh Ambani and his sister-in-law Nita Ambani for the '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. I and my family are grateful we have moved beyond the past, and are deeply touched with this gesture,' said a company spokesperson in a statement sent to the media.
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Watch Ericsson case- Anil Ambani thanks elder brother Mukesh Ambani for timely support With HD Quality.
Reliance Communications chairman Anil Ambani confirmed that the telco has repaid Swedish telecom gear maker Ericsson its dues and thanked his brother Mukesh Ambani and his sister-in-law Nita Ambani for the '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. I and my family are grateful we have moved beyond the past, and are deeply touched with this gesture,' said a company spokesperson in a statement sent to the media.
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In a big setback for Anil Ambani, the Supreme Court today held Reliance Group chairman and its two directors guilty of contempt in pleas filed by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore. Court asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term.
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The Supreme Court on Monday sought the response from Reliance Communications (RCOM) Chairman Anil Ambani on a contempt plea by telecom company Ericsson for its failure to pay outstanding dues of about Rs 550 crore.
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Reliance Communication (RCom) Chairman Anil Ambani on Wednesday told the Supreme Court the Rs 550 crore dues could not be paid to Ericsson in pursuance to the undertaking as its Rs. 18,100 crore deal with the Reliance Jio did not fructify. Asserting that he was not in the contempt of court for not clearing the dues, the RCom Chairman said the undertakings were conditional and the payment was subject to the deal with Jio going through.
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SC holds Anil Ambani guilty of contempt, orders RCom to pay Ericsson
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