The Web


 Latest Business news on mobile: sms BIZ to 7333

Home > Business > PTI > Report

Anil Ambani's name not on IPCL board

April 22, 2005 12:10 IST

Nearly four months after Anil Ambani tendered his resignation from the board of Reliance group company IPCL in the midst of his feud with brother Mukesh Ambani, the company's website on Friday showed the list of the Board of Directors without the younger brother's name.

This appears strategic as the board meeting of IPCL, headed by Mukesh, is scheduled for April 26 though the spokespersons of both Anil and Reliance Industries were not available to comment on the question whether his resignation has been accepted by the Board.

Anil had resigned as vice-chairman and director of Reliance group company IPCL on January 3, accusing another director Anand Jain of heading a "conspiracy to divide" the brothers and play a "negative role" in their family affairs.

The Reliance 'ownership issue'

"I consider against my dignity, self-respect and self-esteem to be on the same Board as Anand Jain," Anil had said in his resignation letter to IPCL chairman Mukesh.

The younger Ambani, who declared a war against Mukesh by questioning the motives behind the buyback proposal barely minutes before flagship company RIL's board meeting on December 27, 2004, said in his letter that "Anand Jain is heading the conspiracy to divide us (brothers) and to further worsen our differences."

RIL had maintained Anil was not nominated to the Board of IPCL at the time of acquisition of the erstwhile PSU and that he was taken in as a director in place of K G Ramanathan on Mukesh's proposal and was made vice-chairman after his father's death.

7333: The Latest News on Your Mobile!

© Copyright 2005 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments

Article Tools
Email this article
Top emailed links
Print this article
Write us a letter
Discuss this article

Copyright © 2005 India Limited. All Rights Reserved.