Monday, Dec 13, 2004
Monday, Dec 13, 2004 |
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NEW DELHI, DEC. 12. Stepping up its pressure on the other side, the Anil Ambani camp today released a letter written by two independent directors of Reliance Energy Limited headed by him, raising a number of issues, including availability, quantum and pricing of gas for the power project in Dadri and about the promised investment from Reliance Industries Limited headed by Mukesh Ambani. The December 4 letter written by Gen. V.P. Malik and Leena Srivastava on behalf of the REL Board expressed full confidence in the existing management led by Mr. Anil Ambani and asked the RIL Board for its views on certain issues. The issues included continuation of five RIL nominees — Mr. Anil Ambani, Satish Seth, J.P. Chalasani, S.C. Gupta and Amitabh Jhunjhunwala — on the REL Board till their term of 2008. It also sought confirmation from the RIL Board on the availability, quantum and pricing of gas from RIL's KG-D6 fields for REL's 3,740 MW project at Dadri in Uttar Pradesh. It also sought a commitment on the availability of technical, project and other resources from the Reliance Group for implementing REL's growth plans. The letter also noted that against an investment of Rs. 5,000 crores approved by the RIL Board on 29.1.2004 for REL, only Rs. 1,500 crores had been received. Releasing the letter, REL sources asked why the letter has not been acknowledged by RIL after more than a week and wanted to know whether any RIL Board meeting is proposed to be held to discuss the letter.
PTI
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