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Home > Business > PTI > Report

'No govt role in Ambani issue'

November 25, 2004 14:13 IST

Union Company Affairs Minister P C Gupta said on Thursday that the government has no role to play in the "ownership differences" in Reliance Industries Ltd as the management of the company is in perfect order.

"There can be problems between partners and there are ways to solve it. There is no role for the Centre in this (ownership issue)," Gupta said responding to queries of newspersons in Mumbai on the sidelines of National Accounting Convention.

The Reliance 'ownership issue'

The minister said the government role would come only if there are problems with the management.

On a query on disclosure of holdings by promoters, he said, "Promoters do disclose their holdings and it must have been done in this case (RIL) also."

Promotors are free to invest directly or through investment companies, he added.

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