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Home > Business > PTI > Report

Anil Ambani calls for RIL board meet

December 15, 2004 20:15 IST

Escalating tensions with his elder brother Mukesh Ambani in the battle over the Reliance empire, Anil has sought a meeting of the board of directors of Reliance Industries Limited to discuss the 'recent developments,' including RIL's investment of Rs 12,000 crore (Rs 120 billion) in Reliance Infocomm.

Anil, in his letter, has also sought discussion on the resignation of 'our most esteemed' M L Bhakta, one of the closest friends and associates of their late father Dhirubhai Ambani (who had quit the RIL board), and the recent letter from the board of directors of Reliance Energy Ltd headed by him to the RIL board.

Acting on the letter written by Anil on December 6, Vinod Ambani, RIL company secretary, has written to all the members of the board of directors seeking a suitable date for convening the meeting.

Anil said in his letter that it was with 'great sadness and anguish' that he had witnessed the events of the last three weeks which had affected the image of 'our company' and the interests of over 30 lakh (3 million) shareholders and all other stakeholders.

"Dhirubhai, to most of us, was not just the chairman of the board, but more importantly a close personal friend, a confidante, a teacher, a guru and a guide. Dhirubhai, the father of the Indian capital markets, wished, above all else, to maximise value for his first, last and only constituency -- Dhirubhai's real family of over 30 lakh shareholders," he said.

"In the absence of his guiding hand and in pursuance of what I am sure he would have wished us to do, I thought I could do no better than bring to your attention the following matters that need our collective wisdom," he said in the letter to the RIL board of directors listing the three issues.

He also recalled that he had visited the Shreenathji temple in Rajasthan and Balaji temple in Tirupati to pray for peace and tranquility for the entire Reliance family and for God to provide "courage and strength to protect, preserve and enhance Papa's legacy."

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Number of User Comments: 4

Sub: my openion about Anil & Mukesh's gap

It's very difficult to establish a company like RIL.Each and every company feels to grow upto this level.By being in this level RIL in these ...

Posted by sachin s. kulkarni

Sub: It is of no use, Anil.

The whole board is a high-jacked one. It will toe the CMD's line of thought. You have to sue Mukesh through a writ petition for ...

Posted by chanakya.

Sub: Anil calls for RIL board meet

Dhirubhai indeed was the father of the Indian Capital Markets who inspired scores of neo Ambanis into making large public issues and create crores of ...

Posted by prutha patel

Sub: Anil call for RIL Board Meeting

Yes he is the person really should lead the company, where what ever he does and doing transperantly in contrast to the elder Mukesh who ...

Posted by Ramakrishnan



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