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Anil recuses himself from REL discussion

December 27, 2004 15:11 IST

Anil Ambani recused himself on Monday from discussion on Reliance Energy Ltd, headed by himself, at the crucial board meeting of Reliance Industries Ltd.

As soon as the discussion at the board meeting started on REL, Anil got himself excused on the ground that he was the chairman and managing director of the company.

Recuse is to disqualify (oneself) as judge in a particular case; or to remove (oneself) from participation to avoid a conflict of interest.

He had earlier demanded a full discussion on REL's future where RIL had sought 50 per cent stake in a bid to get re-endorsement of the flagship company's investment which in January last pledged financial support of Rs 500 crore (Rs 5 billion) for the energy venture.

REL had subsequently sought amendment to the Articles of Association empowering the parent company's board to appoint the chairman, vice chairman and other majority directors, a move objected to by RIL.


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