Monday, November 29, 1999

Five years on, public reunion?

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New Delhi, June 17 -- After exactly five years of acrimony, Anil and Mukesh Ambani and their spouses may face each other amicably amid thousands of shareholders at the annual general meeting (AGM) of the country's biggest private company Reliance Industries Limited (RIL). All eyes are set on the June 18 AGM of RIL where Chairman Mukesh Ambani is expected to make a host of big bang announcements. This AGM may also mark the coming together of the two brothers, who drifted apart exactly five years back on June 18, 2005. A source close to the Ambani family said a surprise for RIL's shareholders could be in the offing and the entire family including mother Kokilaben, brother Anil along with wife Tina besides sisters - Nina Kothari and Deepti Salgaonkar - could join Mukesh at the AGM. "The first public appearance of the two brothers could be at the RIL AGM," the source said. Spokespersons of RIL and Anil Dhirubhai Ambani Group (ADAG) refused to comment. Mukesh and Anil, sources said, have already worked out and settled the contours of the contentious gas deal under which Mukesh will be supplying gas to Anil's power plants. "He (Mukesh) will certainly like to inform his shareholders about this deal (gas pact) with brother Anil," said a source close to RIL. "Besides, a mention about RIL's entry into new areas such as telecom, power and coal mining is also expected to be made."The first such signal came two weeks after the May 7 judgment, when the two brothers on May 23 announced a truce, signalling a new era of partnerships.

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