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The Ambani war timeline
rediff Business Desk | June 18, 2005 16:21 IST
Check out how the Ambani ownership issue erupted and progressed through the seven-month period before finally culminating in a settlement and a separation between the brothers, Mukesh and Anil.
Nov 18: Mukesh Ambani admits to 'ownership issues' in the Reliance group and differences with Anil.
Nov 19: News surfaces that Dhirubhai did not leave a will.
Nov 22: Mukesh clarifies, says Dhirubhai had settled ownership issues during his lifetime.
Nov 23: Mukesh writes letter to to 80,000 employees saying the CMD is the final authority.
Nov 25: Six directors quit Reliance Energy.
Nov 25: Emails show Anil unhappy over clause re-defining Mukesh's powers in July 27 RIL board meet.
Dec 5: Talk of settlement in the air.
Dec 6: Anil spurns Mukesh's settlement offer.
Dec 8: Anil camp questions ownership claims of Mukesh.
Dec 10: Row over news that Mukesh got 12% stake in Infocomm as sweat equity.
Dec 15: Anil seeks RIL board meet to discuss developments.
Dec 23: Mukesh Ambani gives up sweat equity deal.
Dec 27: RIL says Anil is against the buyback for personal reasons. RIL board backs Mukesh.
Jan 3: Anil quits IPCL board. Blames director Anand Jain for conspiracy to divide the two brothers.
Jan 5: Mukesh accuses Anil of running a malicious campaign against him.
Jan 7: Finance Minister, P Chidambaram advises Ambani brothers to settle the dispute.
Mar 9: Kamath completes RIL valuation. Kokilaben holds talks with sons
April 8: Anil complains to the government that his phones are being tapped.
April 27: Anil Ambani says its RIL XI versus me; abstains from signing RIL accounts claiming that relevant details and information are missing.
April 28: Anil says RIL shares are undervalued and accuses RIL board of rejecting his requests for clarifications at the board meeting. RIL board denies allegation.
June 15: Sources say settlement likely on July 6 on which Dhirubhai's death anniversary falls.
June 16: Reliance settlement is most likely to be structured around a demerger. Reliance Industries' stake in Reliance Energy, Reliance Capital and Reliance Infocomm will get de-merged into a separate company.
June 18: Ambanis settle ownership issue under the guidance of their mother Kokilaben Ambani and on the basis of the settlement plan drafted by ICICI Bank CEO K V Kamath.
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