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Home -> Finance -> Full Story

Ambani tussle: Kokilaben emerges as likely arbiter
Saturday, December 11 2004 19:38 Hrs (IST) - World Time

New Delhi: Kokilaben Ambani, widow of the founder of the Reliance empire, today (Dec 11, 2004) emerged as the likely arbiter in the battle between her two sons with the elder one Mukesh leaving "all settlement issues" to her, a path his brother Anil had favoured a few days ago.

In an important turn in the battle for the control of the Rs 90,000-crore group, founded more than a quarter century ago by Dhirubhai Ambani, a spokesperson for Mukesh said tonight that he has communicated this to his mother and he would abide by whatever decision she takes.

Spotlight: Battle of Ambanis -- Will they stick or split?

Asked if this has been conveyed to Anil also, the replied in the negative saying there was no communication from the younger brother who had been talking through the media.

"Mukesh Ambani has not sought any legal separation. This is a false propaganda. He has left the entire matter in the hands of his mother (Kokilaben) and whatever she decides he will abide by it," the spokesperson said.

Earlier in the day, sources in the Anil camp had accused Mukesh of turning down the efforts to stay united and wanting a "formal legal separation".

This was described by the spokesman as "a figment of imagination, baseless and nonsensical".

In October, 2002 the two brothers and their two sisters Dipti and Neena along with their mother had signed a 'Deed of Release' leaving the entire property and assets of Dhirubhai, who died without a Will, to Kokilaben.

PTI



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