Sunday, Jan 23, 2005
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NEW DELHI, JAN. 22. Spurning overtures from Mukesh Ambani for a one-on-one meeting to resolve the feud that has rocked the Reliance empire, younger brother Anil Ambani today made it clear that their mother and sisters would have to be involved in any process for a settlement. A sharp attack on close advisors of Mr. Mukesh, Chairman of Reliance Industries Ltd. (RIL), marked a statement issued by Mr. Anil, RIL Vice-Chairman, through his spokesman, who was responding to media queries on the elder brother's desire for a one-on-one meeting made public yesterday. "For several weeks, and for their own selfish motives which are apparent to everyone, the three Cs — Chamchas, Chelas and Cronies — through a sustained campaign of disinformation, denied the existence of any family process to derail the process of finding an internal solution," the statement said. According to the statement, within a few days of Mr. Mukesh's statement, Mr. Anil left all decisions on these issues to his mother, Kokilaben. Earlier, during the day, Mr. Anil virtually turned down Reliance group company IPCL's request to reconsider his resignation from the company as Vice Chairman, saying various issues, including corporate governance and disclosure needed to be resolved before any rethink on his decision. Speaking through his spokesperson, Mr. Anil had said, "There are substantial issues of corporate governance, disclosure, related party transactions and conflict of interest among others that the board needs to seriously address." "Once these issues have been resolved, a constructive forward path on the resignation can be considered," the spokesperson had said, adding, "Mr. Anil Ambani has not heard anything from IPCL or its Chairman, Mr. Mukesh Ambani." Mr. Anil had resigned from the board of IPCL, a public sector undertaking acquired by the Reliance group in 2002, saying it would be below his dignity to serve on the same board as Anand Jain, whom he accused of conspiring to divide the family. — PTI
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