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Anil unaware of his status in IPCL

April 25, 2005 12:29 IST

In a new twist to the ongoing controversy over his status on the board of Reliance group petrochemical company IPCL, Anil Ambani on Monday said he was unaware of any step taken by the company.

Speaking through his spokesperson, Anil, engaged in a battle over ownership of the Reliance empire, said he was 'unaware of any step taken by IPCL board concerning his status as vice-chairman and director of the company.'

The spokesperson for Anil, vice-chairman and managing director of the Reliance group, did not take any question on what might have happened at the IPCL board following his resignation letter of January 3.

Anil's statement, clearly demonstrating that he was not informed of any decision taken by the board of IPCL headed by Mukesh, comes a day before the Board meeting of the company to be held in Mumbai.

The now 11-member IPCL board, among other things, will consider the financial results for the year 2004-05.

IPCL, in a statement to the Bombay Stock Exchange on Saturday, informed that Anil ceases to be a member of its board following his resignation as vice-chairman and director.

Reliance Industries spokesperson had told PTI last Saturday that "the letter of resignation tendered by Anil Ambani was considered at the Board meeting on January 20, 2005. The resignation having been received by the board took effect and he ceased to be a director on the board.

"However, the board unanimously decided to request him to reconsider his decision. The same was informed to the stock exchanges on January 20, 2005," the spokesperson had said in a written response.

The Bombay Stock Exchange also does not appear to be satisfied with the communications of IPCL over Anil's resignation from the company's board, with a senior official of the exchange saying the matter would be pursued 'appropriately.'

"On the face of it there appears to be a dichotomy in what was conveyed on January 20 and the communication of April 23," the official had said.

IPCL, headed by Mukesh Ambani, had communicated to the exchange on January 20 that the board of directors at their meeting on that day had considered Anil's resignation as vice-chairman and director and unanimously requested him to reconsider the same.

In his January 3 letter, Anil had accused a co-director Anand Jain of conspiring to divide the family and said it was below his dignity to serve on the same Board as Jain.

However, the company communicated to the exchange on April 23 by way of a clarification of January 20 letter that 'Anil ceases to be a director.'

The communication was sent to the exchange a day after the company said in a press statement that Anil's subsequent communication of January 27, where the younger sibling had asked his brother to choose between Jain and him, was 'noted"by the company's board on March 30.


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