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My Decision Final On All Issues, Asserts Mukesh Ambani Email this page
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Mumbai, Nov. 23 (NNN): In yet another twist in the Ambani family feud, Reliance Industries Chairman and Managing Director (CMD) Mukesh Ambani on Tuesday asserted that the CMD's decision is final on all Reliance issues.
In an internal e-mail to Reliance employees, Mukesh Ambani said: "While I have issued a clarification by way of a press statement, which I am sure you have gone through, I thought I must address all employees of Reliance through this communication in order to present the correct perspectives,"

The e-mail further said: "Our Founder Chairman Shri Dhirubhai Ambani had taken all necessary steps to separate ownership from management and has settled all of them within his lifetime. There is no ambiguity in his legacy that the Chairman and Managing Director is the final authority on all matters concerning Reliance."

Yesterday, Mukesh Ambani had issued a press release saying that he had been misquoted on his statement on the ownership issue.

He claimed his recent remarks on the ownership issue were "torn out of context". But a few hours' later sources told NDTV that the family would have preferred a joint statement.

"There is no ambiguity in his (late father Dhirubhai Ambani) legacy, and the chairman and managing director is the final authority on all matters concerning Reliance," he said in an e-mail message to over 80,000 employees of the group.

"Our founder-chairman late Dhirubhai Ambani had taken all necessary steps to separate ownership from management and had settled all issues during his lifetime," Mukesh said in the message.

He also sought to clarify that there would be no impact on the functioning of the group by the ongoing controversy over reported differences with his brother Anil.

"There is no question of any effect on the integrity of Reliance. Reliance will continue to grow in strength," sources quoted Mukesh as having said.

Reliance's commitment to break new grounds in global leadership initiatives stands firm, he added.

Anil Ambani, who was said to be planning to respond to Mukesh's statement, could not be contacted despite several attempts.

In a bid to quell a raging controversy in the market and corporate world, Mukesh had issued a statement on Monday saying that his remarks on a private TV channel last week were 'torn out of context' and that their father had 'settled all issues pertaining to Reliance within his lifetime.'

According to some reports, Mukesh's brother and Vice Chairman of Reliance Industries Anil Ambani would also issue a statement in a day or two.

Meanwhile in a separate development, there are reports that Reliance board member M L Bhakta has resigned.

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