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RIL treasurer Jhunjhunwala quits

BS Corporate Bureau in Mumbai | December 21, 2004 09:35 IST

Reliance Industries Ltd treasurer Amitabh Jhunjhunwalla resigned on Monday with immediate effect.

Jhunjhunwalla, who is widely seen as Anil Ambani's financial adviser, also resigned from the Reliance Energy board since he was an RIL nominee to the board.

In his letter to RIL Chairman and Managing Director Mukesh Ambani, Jhunjhunwalla is understood to have cited several reasons for his resignation.

When Business Standard contacted him, he declined to comment on the reasons for resigning or disclose the name of the company he would be joining next.

A Reliance spokesperson declined to comment on the matter. Jhunjhunwalla has been with the Reliance group for 12 years and was the Reliance Industries treasurer since 2002.

Before that, he was CEO of Reliance Capital. He was involved with the group's fund raising at home and overseas and was the group's main link with foreign financial institutions and investors.

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