The Hindu : Front Page : Board accepted Anil Ambani's resignation in January: IPCL

Online edition of India's National Newspaper
Sunday, Apr 24, 2005

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Board accepted Anil Ambani's resignation in January: IPCL

Anil Ambani had accused a company director of conspiring to divide the family

MUMBAI: The deputy company secretary of the Indian Petrochemicals Corporation Ltd, Shashikala Rao, has confirmed that "the resignation tendered by Anil Ambani [its vice-chairman and director] has been considered by the Board and he ceases to be on the Board of the company."

"The company has subsequently filed the requisite form for notifying the Registrar of Company at Ahmedabad," she said.

The IPCL said the resignation was accepted on January 20 and it had informed the Bombay Stock Exchange the same day after a meeting of the IPCL board, which had considered it.

The company was responding to the BSE's letter seeking clarification of media reports on Mr. Ambani's name missing from the list of IPCL board of directors on the company's website.

However, IPCL, in a press release on Friday, had stated that the company's board had "noted" the January 3 resignation at its board meeting on "January 21."

It also said that Mr. Ambani's subsequent letter on January 27, too, had been "noted" by the board in its meeting held on March 30. — UNI

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