'Rel Cap lost Rs 1,000 cr in IPCL stake sale'
Tuesday, April 26 2005 15:49 Hrs (IST) - World Time - 
New Delhi:
In the continuing fight between Ambani siblings, Amitabha Jhunjhunwala, a close confidante of Anil Ambani, today (Apr 26, 2005) alleged that group company Reliance Capital lost Rs 1,000 crore in sale of its stake in another group company IPCL at the cost of minority investors.
Spotlight: Battle of Ambanis
"The loss of fair value for Reliance Capital on this account is over Rs 1,000 crore. Related party transaction is in breach of judiciary responsibility of RCL's minority investors," Jhunjhunwala, a director in the company, said in a statement.
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