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RIL board thanks Kokilaben
June 18, 2005 13:00 IST
The Board of Reliance Group flagship company RIL on Saturday thanked Kokilaben, widow of group founder Chairman Dhirubhai Ambani, for her role in reaching a settlement between her two sons Mukesh and Anil.
A resolution thanking Kokilaben was passed at the meeting of the Board chaired by Mukesh. Anil, who earlier stepped down as vice chairman and managing director from RIL Board, did not attend the meeting, official sources said in Mumbai.
An hour before the Board meeting, Kokilaben had announced the settlement of ownership issues between her two sons.
In a statement, she said "with the blessings of Srinathji, I have today amicably resolved the issues between my two sons, Mukesh and Anil, keeping in mind the proud legacy of my husband, Dhirubhai Ambani.
"I am confident that both Mukesh and Anil, will resolutely uphold the values of their father and work towards protecting and enhancing value for over three million shareholders of the Reliance Group, which has been the foundational principle on which my husband built India's largest private sector enterprise."
She said Mukesh would have the responsibility for Reliance Industries and IPCL while Anil will have responsibility for Reliance Infocomm, Reliance Energy and Reliance Capital.