RIL rejects Anil’s peace offer


Rejecting a peace offer extended by Anil Ambani, the Reliance Industries Limited (RIL) on Sunday said the dispute between the brothers (Anil and Mukesh Ambani) was not a private matter.

“This is necessarily an issue between two corporates and two individuals cannot decide on behalf of the stakeholders, who also include the Government of India and the people of India,” sources close to the RIL told The Hindu.

“Instead of directly approaching the RIL, once again he [Anil Ambani] spoke to the media, which is not having any role to play in corporate disputes,” the sources said.

The Reliance Natural Resources Ltd. (RNRL), led by Mr. Anil Ambani, is on a legal battle with Mr. Mukesh Ambani-led RIL. The RNRL had filed a special leave petition demanding a fixed quantity of gas, initially 28 MMSCMD (+12 MMSCMD) for a period of 17 years and in future, 40 per cent of all gas produced by the RIL at a price of $ 2.34 per mmbtu.

Last week, the RIL filed an affidavit in reply to the the RNRL’s petition in the Supreme Court. The RIL refuted all the allegations made in public or court by the Anil Ambani group.

Earlier, Mr. Anil, on his return from Kedarnath and Badrinath, extended an olive branch to his elder brother Mr. Mukesh and decided to seek reconciliation with him.

Over the past few weeks, Mr. Anil said, many elder statesmen, trusted family members, and long-standing friends of his father, who always had the best interests of the nation and the Ambani family at heart, talked of the need to break the current impasse and to find a solution that would put an end to this bitterness and rancour and pave the way for substantial future growth and value creation for the country and millions of our shareholders. He agreed with each one of them and this has been a time of deep sadness and pain for him personally.

“Respect for Mukesh”

Mr. Anil said:

“Yet, throughout this very trying period, I have maintained the greatest of love, affection and respect for Mukeshbhai — as I have done since my birth. In that spirit, I have made this pilgrimage to the holy shrines of Kedarnath and Badrinath, in the hope of seeking divine inspiration and blessings, in trying to heal the wounds, and in making a renewed effort to resolve, reconcile and reciprocate.

“I sincerely believe that Mukeshbhai and I can, even at this late stage, sort out all our disagreements, in a constructive, cordial and conciliatory manner, if we both commit to getting this done.

“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.

“Accordingly, 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.

“There can be no better gift to my mother in her 75th year, and to the legacy of our beloved father, the proud creator of the Reliance Group.”

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Printable version | Jan 22, 2020 7:57:07 PM |

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