Anil questions ownership settlement claims

In the battle for control of the Reliance empire, Anil Ambani today questioned his elder brother Mukesh's assertion that their father Dhirubhai had settled ownership issues in his lifetime, but the latter chose not to join issues.

Highly placed sources in the Anil camp today asked how come that no disclosure has been made to the stock exchanges, the market regulator, the Reliance Industries (RIL) board and 36 lakh shareholders so far if their late father had taken all steps to separate ownership from management in his life time.

Responding to questions on this, a spokesman for Mukesh-controlled RIL declined to be drawn into a discussion, dismissing the queries as a "fishing expedition".

Asked whether Dhirubhai's widow Kokilaben and her two daughters had sought details of the settlement of ownership issues, as claimed by Mukesh, the spokesman said RIL would not like to engage in a public statement on issues that are entirely in private domain. "It is a figment of imagination", he said.

The reports involving the names of women in the family are "totally baseless" and emanated from "dubious, non-existent sources" he said adding "in fact these reports could be plants by vested interests intent on spreading disinformation".

On a question from Anil's camp as to how his powers as vice chairman and managing director of RIL were sought to be curtailed as late as in July 2004, the spokesperson said it was "baseless and mischievous."

"It does not arise as no powers of the vice chairman and MD were diluted in July 2004," hesaid.

In its questions, the Anil camp today asked how the younger brother did not have details of the settlement of the management issues if they were resolved during Dhirubhai's life time.