The Hindu : Front Page : Anil Ambani announces expansion plans

Online edition of India's National Newspaper
Monday, Jun 20, 2005

Front Page

Front Page

Anil Ambani announces expansion plans

Oommen A. Ninan

MUMBAI: A day after the split of the Reliance GroupAnil Ambani on Sunday christened his empire Anil Dhirubhai Ambani Enterprises.

Mr. Anil Ambani also announced a Rs. 3000 crore expansion plan for Reliance Energy and Reliance Capital after the board meetings of these companies here. He would be responsible for Reliance Infocomm, Reliance Energy and Reliance Capital as per the deal worked out by his mother, Kokilaben Ambani, and announced on Saturday.

"I parted with Mukesh on a cordial note," Mr. Anil Ambani said at a press conference. He said the new group would be listed in the market if necessary after the demerger of Reliance Industries, which is controlled by Mr. Mukesh Ambani. However, Mr. Anil Ambani declined to withdraw complaints filed by him with government and regulatory authorities about corporate governance and other issues in the Reliance Group over the past seven months. "I have done my fiduciary duties and it is for the regulatory authorities to decide," he said.

Mr. Anil Ambani also reorganised the board of Reliance Capital. Anand Jain, who he had accused of conspiring to divide the Ambani family, along with another Director, D. Chaturvedi, had resigned from Reliance Capital and in their place, S. S. Thakur and R. Chitale were appointed as directors. However, the board of Reliance Energy has not been changed.

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

Front Page

News Update

Stories in this Section

Left against dilution of BHEL stake

Rumblings in TNCC over posts

RSS chief praises Indira Gandhi, BJP differs

Anil Ambani announces expansion plans

"No breach of protocol"

Row over `Vande Mataram'

Pataudi's remand extended

Quota for PoK students

Ex-BJP MP shot dead

Five killed in Assam

Schumacher wins