RIL Board passes all resolutions peacefully
Wednesday, April 27 2005 15:02 Hrs (IST) - World Time - 
Mumbai:
Belying expectations of a stormy affair, Reliance Group's flagship company today (Apr 27, 2005) transacted all its business including passage of about 25 resolutions peacefully.
"The Board passed all the resolutions although some of these were not unanimous," RIL Board sources said immediately after the two hour-long meeting.
Spotlight: Battle of Ambanis
Besides approval of financial results, the Board approved the report of its Corporate Governance Committee, constituted in December to look into various issues raised by company's vice chairman and managing director Anil Ambani.
Sources indicated that on many of the resolutions Anil either abstained or dissented but did not give details.
Discuss this topic
The report of Corporate Governance Committee, headed by Y P Trivedi, was the bone of contention with Anil questioning the credentials of the members even before the meeting of Board saying that it did not even bother to consult him while raising the issues by him.
Among the issues raised by Anil included non-disclosure of the marketing agreement between RIL and Reliance Infocomm and elder brother Mukesh's conflict of interest as CMD of RIL and Reliance Communications and Infrastructure and Reliance Infocomm.
The Committee, sources indicated, gave a clean chit to Mukesh on these issues.
PTI
Related Stories
Reliance Industries FY-05 net up at Rs 7,628 crore
Its Reliance 11 vs Anil at RIL Board Meeting: Anil
Anil's resignation was effective from Jan 20: IPCL
| 
