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Anil Ambani's conciliatory message to brother Mukesh

New Delhi, October 12, 2009

After a pilgrimage to two holy shrines, industrialist Anil Ambani sent a conciliatory message to elder brother Mukesh Ambani, saying there was ample scope to amicably end their long-drawn dispute, the bitterness and rancour.

"There can be no better gift to my mother, Smt. Kokilaben Ambani, in her 75th year, and to the legacy of our beloved father, Shri Dhirubhai Ambani, the proud creator of the Reliance Group," Anil Ambani said in a statement after undertaking a pilgrimage to Badrinath and Kedarnath.

He said several of his late father's friends and family members have talked of the need to break the impasse and find a solution that puts an end to "bitterness and rancour", paving the way for substantial future growth and value creation for the country and shareholders.

"I agree with each one of them. This has been a time of deep sadness and pain for me personally. Yet, throughout this very trying period, I have maintained the greatest of love, affection and respect for Mukeshbhai, as I have done since my birth," he said.

"In that spirit, I have made this pilgrimage today to the holy shrines of Kedarnath and Badrinath, in the hope of seeking divine inspiration and blessings, in trying to heal the wounds, and in making a renewed effort to resolve, reconcile and reciprocate," he said.

"I sincerely believe that Mukeshbhai and I can, even at this late stage, sort out all our disagreements, in a constructive, cordial and conciliatory manner, if we both commit to getting this done," he said, adding the process will barely take a few weeks.

The younger Ambani sibling said he had hoped all issues regarding the reorganization of the Reliance group had been resolved in June 2005 with the approval of his mother to bring harmony within the family and generate wealth for millions of shareholders.

"Unfortunately, the joy of that achievement has been tempered by the sorrow, pain and anguish of continuing disagreement and acrimony with my elder brother," he said, adding he also had to take the recourse of litigation.

"The issues are only a handful, and the facts are well known. My judgement says that they can all be resolved in a matter of weeks, and will not require several months of discussions."

Anil Ambani's offer of conciliation to his elder brother came barely 10 days before the Supreme Court hears a crucial dispute between two companies in their groups over the supply of natural gas from the Krishna-Godavari fields.    

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