NATIONAL RIL committee to suggest business reorganisation Reliance group flagship RIL today (Jun 18, 2005) authorised its Board Committee to suggest a "suitable scheme" of reorganisation in the wake of the settlement of ownership issues between group chairman Mukesh Ambani and his younger brother Anil, reached earlier in the day.
Ambani settlement to add value to investments: LIC Life Insurance Corporation of India, (LIC) which holds over 4.5 per cent stake in Reliance Industries Ltd, today (Jun 18, 2005) said that the pact between Mukesh Ambani and his younger brother Anil to divide the assets protects interests of investors and adds value to their investments.
SEBI silent over Reliance ownership settlement Market regulator SEBI (Securities and Exchange Board of India) today (Jun 18, 2005) maintained a strict silence over the settlement reached between the Ambani brothers over the ownership issues of Reliance empire, ending perhaps the longest and fiercest battle in corporate India.
A-I launches Delhi-Dhaka-Kolkata-London flight Air India today (Jun 18, 2005) launched a new long haul flight from New Delhi connecting Dhaka, Kolkata and London, with Minister of State for External Affairs E Ahamed saying it would go a long way in strengthening Indo-Bangla relations.
RIL feud fire doused; investors richer by Rs 100 bn The seven-month long raging fire between Ambani siblings, which got doused today (Jun 18, 2005), had no effect whatsoever on the die-hard investors in the Reliance Industry Ltd as they pocketed Rs 10,000 crore since the fuse was pulled on November 18 by the elder brother Mukesh raising "ownership" issues.
Govt happy over Reliance settlement: Chidambaram Expressing happiness over the settlement reached between the Ambani brothers on the Reliance ownership issues, Government today (Jun 18, 2005) said both Mukesh and Anil have the capacity and wisdom to build large businesses under their separate leadership.
RIL board headed by Mukesh approves demerger plan RIL board, headed by Mukesh Ambani, today (Jun 18, 2005) approved a demerger plan as part of separation of group companies Reliance Energy and Reliance Capital to create a separate entity for younger sibling Anil Ambani.
Anil steps down as MD; not to attend board meet Reliance Industries Vice Chairman and Managing Director Anil Ambani today (Jun 18, 2005) resigned from the company and is not attending the board meeting being chaired by his elder brother Mukesh.
Ambani brothers Reliance ownership row resolved The ownership row in Reliance Empire was resolved early this morning (Jun 18, 2005) with Mukesh Ambani and his younger brother Anil reaching an agreement to divide the assets.
