The Hindu : Front Page : Hectic parleys for amicable settlement between Ambanis

Online edition of India's National Newspaper
Saturday, Dec 11, 2004

Front Page

Front Page

Hectic parleys for amicable settlement between Ambanis

MUMBAI, DEC. 10. Hectic negotiations are in progress through several intermediaries, including Ambani family members, to bring about an amicable settlement between the two brothers, Mukesh Ambani and Anil Ambani, regarding ownership issues, before the next Board meeting of Reliance Industries Limited (RIL) in the last week of January.

``The matter is so big that it would take time [for settlement]," said the RIL Board member, Y.P. Trivedi.

Mr. Trivedi told UNI that negotiations were being undertaken by intermediaries to arrive at a settlement. ``Their family members, including mother Kokila Ben, are involved [in negotiations],'' he said.

However, he did not mention anything related to the content of the discussions or options to resolve the current tussle over the ownership issues of the Rs. 90,000-crore RIL group.

There were reports that Mukesh, CMD of RIL, had agreed to go for separation of the business empire with his brother Anil, the group's Vice-Chairman and MD, provided the flagship RIL remains as one entity under his control.

Anil can get independent control of some group companies, in addition to the payment of cash based on his share of the family's stake in RIL. — UNI

Printer friendly page
Send this article to Friends by E-Mail

Front Page

News Update

Stories in this Section

Opposition, Government trade charges over legislative business

`Table employment Bill'

Geelani, Shabir Shah held, protesters teargassed

Hectic parleys for amicable settlement between Ambanis

PAN must from January 1

Dawood aide brought to Porbandar

Kanchi Acharya's bail plea in assault case rejected

Bangladeshi immigrants: petition seeking deportation admitted

`World facing litany of threats'

An uncomplicated performer