Ambanis to meet on Nov 23 to discuss ownership issue Saturday, November 20 2004 21:00 Hrs (IST)
New Delhi:
The Ambani brothers are likely to meet on Nov 23, 2004 and may try to sort out "ownership issues" in the Rs 80,000 crore Reliance Group.
The meeting is expected to take place in the presence of their mother and widow of group founder Dhirubhai Ambani, Kokila Ben, in Mumbai after elder brother Mukesh Ambani returns from US, highly place sources said.
The meeting comes within days of Mukesh Ambani going public on the ownership issues that are plaguing the biggest private corporate house of the country.
Meanwhile, younger brother Anil Ambani and Kokila Ben visited the Nathdawar temple in Rajasthan today (Nov 20, 2004) and offered prayers, family sources said.
Despite various attempts, Mukesh Ambani could not be contacted in US, as he was busy in meetings.
Sources said that in the meeting the two brothers and their families might try to resolve all the issues including the ownership of the Reliance Empire.
Earlier this week, Mukesh had admitted that "there are ownership issues" but "they are in the private domain".
Even as Mukesh had discounted fears of any impact on the functioning of the company saying Reliance has moved beyond one, two or three individuals including him. The stock market yesterday (Nov 19, 2004) had witnessed the Group losing over Rs 2500 crore-market capitalisation.