 "Anil Ambani, chairman, Reliance ADA Group, flanked by sons Anmol (left) and Anshul at the AGM in Mumbai Photo: Kamlesh Pednekar")
The annual general meetings (AGMs) of Anil Ambani group companies on Monday saw some shareholders raising concern on the significant fall in stock prices. The coming together of various factors, said Group Chairman Anil Ambani, had caused “collateral damage”.
Ambani said group companies have had to face challenges over the past six months due to a “combination of factors, whether it was the crisis in the financial services sector, irrational action by auditors and rating agencies or the now-recognised temporary slowdown” of the economy. “These events, aided and abated by reckless selling and rumour mongering by vested parties, (have) affected the
