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Home > Business > Business Headline > Report


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.

The Reliance ownership issue: Complete Coverage

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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