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Tuesday, Nov 23, 2004

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Remarks torn out of context: Mukesh Ambani

MUMBAI, NOV. 22. Mukesh Ambani, Chairman of the over Rs. 60,000-crore Reliance Group, on Monday said that the interview that he had participated in the U.S. had been grossly quoted out of context, and this had been a major factor in affecting the bourse performance of the company over the past three days.

In what appeared to be a very clear-cut attempt at a damage-control exercise, Mr. Ambani issued a statement that categorically said that his father, the late Dhirubhai Ambani, had settled all ownership issues well before his death, and that there were no differences with his younger brother, Anil Ambani, on the same. — ANI

The full text of Mr. Mukesh Ambani's statement has been released as an advertisement on the front page of today's issue.

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