Mother holds centrestage

Kokilaben Ambani may not be part of the management of Reliance Industries. But she was the centre of attraction at the Reliance Industries' 31st annual general meeting-the first held after her two sons parted ways.

While Mukesh Ambani ushered his mother to her seat, Anil Ambani went a step ahead. Anil, who was sitting with shareholders, asked everybody around to give a standing ovation to the person who "matters the most" - his mother.

While Mukesh didn't mention Kokilaben's name during his speech, Anil said "My mother has given me birth twice - one on June 4, 1959 (his birthday) and the other on June 18, 2005 (when the settlement was announced by her). May I request all of you to give her a standing ovation."

Anil Ambani made no bones about the fact that his mother was the main force behind the proposed restructuring of the group that gave birth to separation of two empires.

"She has consistently maintained in the last nine months that she would't allow us to take any decision which did not uphold interest of 23 lakh shareholders of the company. She takes care of your interest," he told the shareholders.

Mukesh Ambani, for his part, tried to establish the fact that RIL is a professionally run company by expressing his gratitude to the board. He drew shareholders attention to the fact that the company has improved a lot ever since he took charge.

"On July 21, 2002, when I took over as the chairman the market capitalisation of the company was slightly over Rs 34,000 crore. Today as I speak to you, the market capitalsaition is in excess of Rs 100,000 crore."

When his turn came, Anil said "Dhirubhai Ambani has made what Reliance is today. I don't believe that there is anybody with his capacities and I don't see anyone like him in future," he said.

Anil also put in a sales pitch by asking RIL shareholders to create space in their hearts for Anil Dhirubhai Ambani Enterprises, his empire.