India’s richest man Mukesh Ambani, who controls oil-to-telecoms powerhouse Reliance Industries that is now worth many times the troubled business group run by his younger brother Anil, appears to have offered some kind of support to ensure Anil paid off a 5.5 billion rupees ($80 million) debt. If Anil didn’t pay the debt, then he had been threatened by India’s Supreme Court with a prison term. The nature of the backing and how it was delivered is unclear, but in a statement Anil Ambani thanked his billionaire brother “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”.
