The Telegraph
Since 1st March, 1999
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Ambanis set up talks

Nov. 21: A family meeting of the Ambanis is likely to take place tomorrow within hours of Mukesh Ambani's return from the US.

In a TV interview aired a few days ago, Mukesh had said there were 'ownership issues' within the family.

The prime-mover behind tomorrow's meeting is believed to be Kokilaben, the mother of Mukesh and Anil, who has now decided to take an active part in resolving the 'issues' in the country's largest corporate group ' Reliance.

The two sisters ' Dipti Salgaonkar and Neena Kothari ' have reached Mumbai for the meeting, an agency report said. But this could not be confirmed.

Just over two years after the death of Dhirubhai, it seems to have fallen upon his widow to work out a settlement between her sons, who control the nearly Rs 100,000-crore Reliance group.

Unconfirmed reports suggest Anil has left it to his mother. The younger Ambani brother could not be contacted for comments.

According to some sources in the Reliance group, Dhirubhai did not leave behind a will. Under the Hindu undivided family succession law, the assets would then be split among the mother and the two sons.

After Mukesh brought the long-rumoured differences in the family out in the open, Anil accompanied his mother to Nathdawar temple in Rajasthan on Friday.

Mukesh returned to Mumbai tonight.

It is expected the meeting will be held at Seawind, the Colaba building where the family lives.

In the interview, Mukesh had admitted that there were 'ownership issues' but said these were 'in the private domain' and would not affect the working of the companies. Despite the assurance, Reliance group shares lost over Rs 2,500 crore of value on the stock market.

After the weekend, the market reopens tomorrow and if the trend continues, the group may make a statement, reiterating the assurance voiced by Mukesh.

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