INSUBCONTINENT EXCLUSIVE:
Anil Ambani thanked his elder brother Mukesh Ambani for helping him pay dues to Ericsson.Shares of the Reliance Group companies promoted by
industrialist Anil Ambani - Reliance Communications, Reliance Infrastructure, Reliance Capital, Reliance Power, Reliance Home Finance,
Reliance Naval and Reliance Nippon Life Asset Management surged after Reliance Communications repaid dues to Swedish telecom giant Ericsson
a day before a Supreme Court deadline
"The requisite payment of Rs 550 crore and interest thereon to Ericsson has been completed today in compliance of the judgment of the
Hon'ble Supreme Court," Anil Ambani-promoted telecom company said in an exchange filing post market hours yesterday
(: Anil Ambani's RCom Pays Rs
462 Crore Dues Before Top Court Deadline Ends)Shares of Reliance Communications rose by its daily maximum limit of 10 per cent to Rs 4.40
Other Reliance Group companies like Reliance Infrastructure, Reliance Capital, Reliance Power, Reliance Home Finance, Reliance Naval and
Reliance Nippon Life Asset Management also rose between 4-5 per cent each as of 10:03 am on the BSE.Anil Ambani thanked his elder brother
and India's richest man Mukesh Ambani for helping him pay dues to Swedish telecom giant Ericsson and 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
I and my family are grateful we have moved beyond the past, and are deeply grateful and touched with this gesture."Last month, the top court
had ordered Reliance Communications or RCom and two of its directors to pay Ericsson its dues within four weeks or face a three-month jail
term for contempt of court.The Supreme Court had held Anil Ambani in contempt in February, warning that he and two Reliance Communications
employees will be sent to prison if they fail to clear Ericsson's dues by March 19.Get the latest election news, live updates and election
schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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