Ambani vs Ambani may slug it out at crucial board meet

Mumbai: 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.

A 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 December 2004.

Anil, in his letter dated December 6, 2004, has asked for a discussion on:

• 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.