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Anil fires fresh salvo at Mukesh

January 13, 2005 19:07 IST
Last Updated: January 13, 2005 19:42 IST

Reliance Industries Ltd vice chairman Anil Ambani on Wednesday fired another salvo at his elder brother Mukesh, accusing a key director of one of the group companies of sullying the group's image.

Anand Jain, director of a Reliance company IPCL and a close confidant of RIL chairman Mukesh Ambani, was the target of a letter sent by Anil to his brother. Anil had attacked Jain earlier this month by accusing him of conspiring to divide the family.

The fresh attack from the younger brother comes amid reports that a formula for legal separation was being worked out at the behest of Kokila Ben, the widow of Reliance founder Dhirubhai Ambani, by ICICI Bank chairman K V Kamath.

Referring to his earlier letter on January 3, where he had tendered resignation as vice-chairman of IPCL, Anil said in his latest communication that Anand Jain was a director on the Board of the erstwhile PSU acquired by the group in 2002 and was also acting as a distributor of the company.

 The Reliance 'ownership issue'

"This is obvious conflict of interest," the younger brother said in his letter to the chairman of IPCL, Mukesh Ambani and requested guidance on the issue, according to sources close to Anil Ambani.

Through his first letter, where he had said it would be below his dignity to be on the same board as Anand Jain, and through the latest communication, Anil is putting pressure on elder brother to make a choice between him and Jain.

It may be recalled that Mukesh had gone to the residence of M L Bhakta a day after the founder director of Reliance Industries had resigned from the Board after the differences between the two brothers had become public in November. But the RIL chairman has not made such a gesture after Anil resigned from IPCL board and this reflected from his letter today.

While officials and spokesperson in RIL were not willing to comment, sources in Anil's camp said that the letter referred to media reports on Anand Jain's dealings with IPCL and RIL and that this was hurting the image of the group.

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Number of User Comments: 4

Sub: RIL Fracas

Enough is enough. The stink of the dirty linen being washed in public is suffocating the investor community, governments and the economy. I had already ...

Posted by T.P. Viswanathan

Sub: Didtribution of RIL

Dear Sir/Madam, 1. Though both brothers have equel right over property with due consideration to legigitimate right to their sisters,its Mr Mukesh who should act ...

Posted by Mrs Deepa Singh

Sub: Anil fires fresh salvo at Mukesh

Actually, Anil is understanding the aftermaths of the legal division and the battle. God knows, through this kind of letter, Mukesh also understands the fact ...

Posted by Chetan Upadhyaya

Sub: Fresh Firing by Anil Ambani

Fate of RIL was very clear to all from day one. No company can remain united if involved in unfair business strategy. People have experienced ...

Posted by K K KATARYA


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