“RIL does not belong to a family, it belongs to shareholders”

Reliance Natural Resources Ltd (RNRL), which is led by Anil Ambani, is on a legal battle with Mukesh Ambani-led RIL.

RNRL had filed a Special Leave Petition (SLP) 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 RIL at a price of $ 2.34 per mmbtu. RIL filed an affidavit last week in reply to the SLP filed by RNRL at the Supreme Court. RIL has refuted all the allegations made in public or court by the Anil Ambani group.

Reacting to Anil Ambani’s offer of reconciliation with his brother Mukesh Ambani, RIL, invoking nationalist spirit, said: “Vital national interests in terms of securing government’s revenue from the natural gas, the government owns and Government of India’s sound policy framework for promoting India’s energy security, are at stake.”

“The interests of RIL 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, India,” RIL added.

Ridiculing the statement of Mr. Anil Ambani, RIL said, “Sadly, the conduct of R-ADAG [Anil’s company] so far makes it difficult for RIL to believe that Anil Ambani has had a real change of heart. For 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.”

“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,” RIL stated. “In order to demonstrate that his intentions behind the latest overture are bona fide, we urge Anil Ambani to put his sentiments into actions.”