The Hindu : Front Page : `Anil Ambani had agreed to reconsider resignation from IPCL'

Online edition of India's National Newspaper
Tuesday, Apr 26, 2005

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Front Page

`Anil Ambani had agreed to reconsider resignation from IPCL'

NEW DELHI: In a development that could further aggravate the conflict between the two Ambani brothers, it was revealed today that the younger sibling, Anil Ambani, had agreed to reconsider his resignation from the board of IPCL, a Reliance group company, but failed to get any response from the company headed by his elder brother, Mukesh Ambani.

Mr. Anil Ambani communicated his offer to reconsider resignation as Vice-Chairman and Director of IPCL through a letter dated January 27 after the company unanimously decided at its meeting on January 20 to urge the younger Ambani to reconsider his decision. Extracts from the letter, written by Mr. Anil Ambani, were revealed today by informed sources after the company informed the BSE on Saturday that

Mr. Anil Ambani had ceased to be on the board of IPCL after January 20.

Meanwhile, the Mukesh Ambani headed IPCL on Monday said Anil Ambani's resignation from its board of directors became effective from January 20 when the board considered it. Although the board had not accepted the condition set by Mr. Anil, it had decided to request him to reconsider his resignation as a matter of good gesture.

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