Here's Anil Ambani's statement after big brother Mukesh Ambani saves him from going to jail in the RCom-Ericsson unpaid dues case

Reliance Communications (RCom) chief Anil Ambani was saved from a possible jail-term in Ericsson deal over n-payment of dues after Reliance Industries Limited (RIL) Chairman Mukesh Ambani lent his younger bror's company Rs 450 crores on Monday.

extension of help by elder bror to his younger bror came just a day before deline by Supreme Court, which h in its previous order instructed Anil Ambani to pay off Ericsson's dues by Tuesday, or face prospect of being jailed.

Following this massive development, RCom chairman thanked his elder bror and his wife Nita Ambani for ir support, suggesting it showed how family is toger in such tough times.

"My sincere and heartfelt thanks to my respected elder bror, Mukesh and Nita, for standing by me during se trying times, and demonstrating importance of staying true to our strong family values by extending this timely support. I and my family are grateful we have moved beyond past, and are deeply touched with this gesture," re statement issued by Anil Ambani.

RE: Big Bror Mukesh Ambani Saves Anil Ambani From Going To Jail In RCom-Ericsson Case, Rs. 550 Crore Dues Paid

apex court h on February 20 held Anil Ambani guilty of contempt of court for willfully violating its order and t paying up Rs 550 crore owed to India arm of Swedish telecom equipment major. Justice RF Nariman-led bench h ordered RCom to pay Rs 453 crore to Ericsson India within four weeks failing which younger Ambani would face a three-month jail term. remainder of amount h alrey been paid.

deal between Reliance Communications - once a big player in telecom - and Ericsson extends back to 2014, long before RCom came to be encumbered by a massive debt at a time when Reliance Jio's entry disrupted telecom market and triggered a massive consolidation. In fact, a deal h even been agreed for sale of RCom's assets to Reliance Jio in an effort to pare debt, but it fell through on account of Department of Telecom (DoT) holding that Jio should also be transferred RCom's arrears. Since n, RCom filed has entered NCLT (National Companies Law Tribunal) for a resolution. Both se - failed assets sale to Jio and insolvency proceedings - h been cited by RCom for its earlier inability to pay off dues owed to Ericsson.