A showdown between the Ambani brothers at a crucial board
meeting of Reliance Industries now appears to be certain.
Anil Ambani, vice-chairman and managing director of Reliance
Industries has sought a meeting of the board of directors
of Reliance Industries Ltd (RIL) at 'an appropriate time'
to discuss the 'recent developments' including RIL's controversial
investment of Rs12,000-crore Reliance Infocomm.
RIL board member told Mumbai daily that he had received
an intimation from RIL seeking to know his convenience
when a board meeting could be convened between January
5 and January 20, 2005. This board is also expected to
consider the financial results for the quarter ending
in his letter dated December 6, 2004, has asked for a
The resignation of M L Bhakta
The letter dated December 4 received from the board
of directors of Reliance Energy Ltd (REL) on matters
concerning future prospects of REL and related issues
Matters concerning the Reliance Infocomm in which Reliance
has invested over Rs12,000 crore as per RIL balance
sheet as on 31.3.2004.
Following Anil's letter, Vinod Ambani, company secretary,
RIL, has written to all the members of the board of directors
seeking a suitable date for convening the meeting.