| The bulky note sent to the corporate governance committee of the board of the flagship company Reliance Industries Ltd (RIL), of which Mukesh is the chairman and Anil the vice-chairman, deals extensively with what the younger brother regards as flaws in corporate governance within the group, informed sources said today. |
| Anil's document was sent days ahead of RIL's board meeting in Mumbai on January 21. But, the issue of corporate governance did not figure in the discussions there. |
| In fact, Y P Trivedi, an independent director of RIL, heading the corporate governance committee, had said that eminent retired judges had endorsed the corporate governance practices, thus, virtually giving a clean chit. |
| "But if Anil has to write to the board, which would refer the matter to the corporate governance panel. There is no shying away from any issue raised or referred to us. We will go through it," Trivedi said, without giving any indications on whether he had received Anil's exhaustive note on corporate governance practices in the company. |
| When contacted on this issue, a spokesperson for Anil Ambani declined to comment. |
| Anil has, in fact, made an issue of what he perceives to be a conflict of interest between the business interests of Anand Jain, a close associate of Mukesh, and various key positions he holds in the group. |
| In fact, the younger brother has even resigned as vice-chairman and director from the board of Reliance group company IPCL, saying he would not share on it with Jain, whom he has accused of conspiring to divide the family. |
| Yesterday, Anil had virtually turned down IPCL's request to reconsider his resignation, saying various issues, including corporate governance and disclosure need to be resolved before any rethinking on his decision. |
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