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Has IPCL accepted Anil's resignation?

April 22, 2005 18:38 IST

Anil Ambani's name was missing from the Reliance group company IPCL's board of directors' list, three months after he resigned, but the Mukesh Ambani-headed company did not come clear whether his resignation has been accepted.

After repeated queries, IPCL said in a statement that Anil's letter of resignation as vice-chairman and director dated January 3 was "noted" by the board at its meeting on January 21 and a subsequent letter reiterating the resignation was also "noted" at the meeting on March 30 but did not clarify as to whether it has been accepted.

Anil Ambani's name not on IPCL board

Reliance spokesperson refused to answer why Anil's name was missing from the company's website.

Although there were indications that IPCL may have accepted the resignation, Reliance officials parried the question on whether the company had informed the stock exchange authorities saying, "we will get back to you".

As per the listing norms, a company has to inform stock exchange authorities immediately about any decision that may be price sensitive and have a bearing on investors.


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