Business Standard
Thursday, May 31, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||Companies & Industry||||||| 
 Section Home | News Now | Today's Paper | Q&A | People in the News | Industry News | Features | The Compass | Research & Analysis | Opinion | Corporate Results
Home > Companies & Industry Live Markets | Commodities
 

Mukesh refuses to hum Anil's tune
BS Reporter / New Delhi Oct 12, 2009, 01:01 IST

‘What is saddening is Anil has yet again sought to communicate through the public domain’

If Anil Ambani had hoped that his offer of peace with his formidable elder brother would be reciprocated with friendly language or an offer of talks, a dampener followed soon enough from Reliance Industried Ltd.

reliance
BSE | NSE
Price  
reliance ind
In a dry statement, which would have been issued with Mukesh Ambani’s approval, RIL said four things, in effect. One, it was glad better sense seemed to have come to Anil. Two, that it still doubted his sincerity in asking for talks on peace. Three, that the case between the two in the Supreme Court (first petitioned by RIL) wasn’t a private affair to be settled with talks. Four, and finally, that if Anil did prove himself sincere in wanting an end to war, RIL wouldn’t be found wanting.

Goes the Mukesh comment: “RIL has noted the comments made by Anil D Ambani with the care and concern they deserve. RIL welcomes this statement, and hopes it is a positive change in the negative, calumnious and malafide campaign launched by R-ADAG against RIL.”

“RIL believes there is no contentious issue in the world that cannot be resolved satisfactorily through mutual dialogue, provided the proposal for reconciliation is anchored in good and honest intentions. RIL has always maintained that the dispute under litigation is not merely a family matter, as Anil Ambani’s statement once again tries to make out to be.”

“Vital national interests in terms of securing government’s revenue from natural gas...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, to those associates who have made this journey possible and most importantly to the nation. Issues which arise out of a decision of the Bombay High Court transcend any private differences between two brothers or two corporate entities (which) now can only be decisively resolved by a decision of the highest court.”

“RIL sincerely hopes that any overture for rapprochement to end acrimony are sincere and in no way related to the ongoing hearing of the case in the Supreme Court. Sadly, the conduct of R-ADAG so far makes it difficult for RIL to believe that Anil Ambani has had a real change of heart. For the last many years, Anil Ambani has indulged in a malicious campaign against RIL and its Chairman. The campaign reached its nadir in recent months through a vicious series of advertisements, unprecedented in India’s corporate history. RIL. while denying all the false accusations has responded to this campaign with dignified silence.”

While Anil Ambani had been repeatedly proclaiming that Mukesh had rebuffed him at every attempt to talke peace over the past three-odd years, the RIL statement says this is a lie, in effect.

“What is both saddening and perplexing is that Anil Ambani has yet again sought to communicate to RIL and its Chairman through the public domain, whereas he could have easily contacted his elder brother directly. To demonstrate that his intentions behind the latest overture are bonafide, we urge Anil Ambani to put his sentiments into actions We can now only hope that the deeds of Anil Ambani and his associates are reflective of the emotions expressed in the statement.”

“In the last 48 hours itself, Anil Ambani & R-ADAG have made allegations against the (RIL) Group and its directors which are not only untrue but increasingly hurtful. Hopefully, this way of engagement shall also change.

And, in conclusion, a slightly more conciliatory note. “On its part, both the RIL Chairman, as also RIL, have always wished him well and will continue to do so Finally, RIL welcomes this positive indicator and will not be found wanting in responding to them constructively.”

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets end lower ahead of May F&O expiry
- Parsvnath posts Rs 23 cr loss in Q4
- Educomp net down 57% at Rs 61 cr in Jan-Mar qtr
- DLF Q4 net plunges 39% to Rs 211 cr
- Provogue Q4 net profit down 71% at Rs 1.81 cr
  Read Business news in 
- India's no. 1 Property Site. Click here to know more
- 
- "Discover The Power of One"
- Help a Child Achieve her. Click to know more
- The Best Seller is Also the No. 1 in Mileage. Click here
- Watch The Film Here. Click here to know more..
- Learn How One City is Running on FOOD SCRAPS.
- 1 billion in saving for Unilever without any tangles.
- A Brand New Server at a Price That Fits Your Budget. Click here
- One Partnership Endless Possibilities. Click here to know more
- Helping doctors detect diseases earlier, saving costs & extending lives.
- Which is the best plan for your daughter
- Check out the TRUE COLOURS of your Stocks, Now for FREE!
- One of the leading business schools in the world.Know More
- 2 Lac Apartments, 1 Lac House / Plots. Click here
Sorry, comments to this story are closed
Latest Messages
Table for Two
  Now available at Special price
  Rs.280/- Only

  Buy Now
BS POLL
UPA 2 has completed three years. How do you rate its performance?  Read the story
  Good
  Average
  Bad
Submit
Most Popular
Read
E-Mailed
Commented
   
- Dissidence brewing in state: Senior BJP leaders team up against Modi
- Tata Motors skids as margins dip at JLR
- GSFC to augment capacities with Rs 800 cr investment
- Vodafone notice on arbitration premature: Govt
- Demat accounts cross 20-mn mark
 
 More  
Tax Shastra
  Now available at Special price
  Rs. 360/- Only

  Buy Now
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World | General News
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us