Tag: Mukesh Ambani

Kokilaben nudged Mukesh Ambani to bailout Anil?

Kokila Ben
Kokilaben Ambani (Image Credit: Business Today)

India richest man Mukhesh Ambani and family were all over the media spaces in the past couple of weeks thanks to the big fat wedding of Akash Ambani. The eldest son of Mukesh and Nita Ambani, married Sloka Mehta, the daughter of the diamantaire, Russel Mehta on March 9.

The Ambanis were also in news for another reason. Reliance Industries chairman Mukesh Ambani had helped Reliance Communication chairman Anil Ambani avoid a certain jail term. Due to elder brother’s timely assistance, Anil could pay Rs 462 crore dues to Ericsson a day before the deadline (March 19)set by the Supreme Court.

Read: Mukesh Ambani helps brother avoid jail

The world came to know about it only because of a statement put out by Anil Ambani, expressing his gratitude to his brother and sister-in-law Nita Ambani for their kind gesture.

Now, it appears that Mukesh Ambani extended his helping hand only after mediation by his mother Kokila Ben, according to media reports. This is not the first time Kokila Ben acted as mediator between the brothers.

After the death Dhirubhai Ambani, her husband, in 2002, a serious difference cropped up between her two sons. As the family feud began playing out in public, Kokila Ben intervened and divided Reliance Group businesses between Mukesh and Anil in 2005. The move was lauded by millions of stakeholders.

Mukesh Ambani helps brother avoid jail

Mukesh Ambani and Anil Ambani

Reliance Industries chairman Mukesh Ambani on Monday came to the rescue of younger brother Anil Ambani, who was facing a jail term over the unpaid dues of Rs 453 crore to Ericsson.

Last month, the Supreme Court had directed Anil Ambani, the chairman of Reliance Communications (RCom), and two directors to pay Rs 453 crore to the Swedish company within four weeks. If failed, the trio faced a three-month jail term for contempt of court.

Apparently, Anil Ambani could pay the amount a day before the deadline of March 19, as Ericsson claimed to have received Rs 462 crore from RCom.

Soon Anil Ambani has put out a statement that read:  “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.”