ADAG chief Anil Ambani reached out to estranged elder brother Mukesh for sorting out all disagreements “in a constructive, cordial and conciliatory manner”.
Anil Dhirubhai Ambani Group (ADAG) chief Anil Ambani on Sunday reached out to estranged elder brother Mukesh for sorting out all disagreements “in a constructive, cordial and conciliatory manner”, saying this could be done within weeks with commitments from both sides. In response, Reliance Industries Limited (RIL) issued a statement later in the day, suggesting that Anil had portrayed a corporate dispute as a “family feud”.
“With the blessings of my mother, and invoking the power of Lord Shiva from this most sacred of holy places, I am once again reaching out to Mukeshbhai — and hope and pray that my feelings will be reciprocated, and we will arrive at a solution to all outstanding issues, with a generous heart, a willing mind and an accommodating spirit,” Anil said in a statement after a visit to the Kedarnath and Badrinath shrines in Garhwal, Uttarakhand.
The offer comes at a time when the brothers are involved in a bitter legal battle over the supply of natural gas. “The issues are only a handful, and the facts are well known. My judgment says that they can all be resolved in a matter of weeks, and will not require several months of discussions,” Anil said.
Referring to the family settlement between the brothers in 2005, which according to him had resolved all issues, Anil said: “Unfortunately, the joy of … achievement has been tempered by the sorrow, pain and anguish of continuing disagreement and acrimony with my elder brother, Mukeshbhai…
Late on Sunday, RIL responded to Anil’s statement hoping that “this is a positive change in the negative, calumnious and malafide campaign launched by R-ADAG against RIL”.
Wondering why the communication was made through the “public domain”, the statement issued by RIL “urged Anil Ambani to put his sentiments into actions”.
Stating that the dispute under litigation in the Supreme Court is “not merely a family matter”, RIL said, “Vital national interests in terms of securing government’s revenue from the natural gas, the government owns and GoI’s sound policy framework for promoting India’s energy security, are at stake. The interests of RIL’s shareholders are also at stake. RIL does not belong to a family. It belongs to shareholders..” —With agency inputs
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