Rediffmail Money rediffGURUS BusinessEmail

The Ambani war timeline

June 18, 2005 16:21 IST
By rediff Business Desk

Check out how the Ambani ownership issue erupted and progressed through the seven-month period before finally culminating in a settlement and a separation between the brothers, Mukesh and Anil.

Nov 18: Mukesh Ambani admits to 'ownership issues' in the Reliance group and differences with Anil.

Nov 19: News surfaces that Dhirubhai did not leave a will.

Nov 22: Mukesh clarifies, says Dhirubhai had settled ownership issues during his lifetime.

The Reliance ownership issue: Complete Coverage

Nov 23: Mukesh writes letter to to 80,000 employees saying the CMD is the final authority.

Nov 25: Six directors quit Reliance Energy.

Nov 25: Emails show Anil unhappy over clause re-defining Mukesh's powers in July 27 RIL board meet.

Dec 5: Talk of settlement in the air.

Dec 6: Anil spurns Mukesh's settlement offer.

Dec 8: Anil camp questions ownership claims of Mukesh.

Dec 10: Row over news that Mukesh got 12% stake in Infocomm as sweat equity.

Dec 15: Anil seeks RIL board meet to discuss developments.

Dec 23: Mukesh Ambani gives up sweat equity deal.

Dec 27: RIL says Anil is against the buyback for personal reasons. RIL board backs Mukesh.

Jan 3: Anil quits IPCL board. Blames director Anand Jain for conspiracy to divide the two brothers.

Jan 5: Mukesh accuses Anil of running a malicious campaign against him.

Jan 7: Finance Minister, P Chidambaram advises Ambani brothers to settle the dispute.

Mar 9: Kamath completes RIL valuation. Kokilaben holds talks with sons

April 8: Anil complains to the government that his phones are being tapped.

April 27: Anil Ambani says its RIL XI versus me; abstains from signing RIL accounts claiming that relevant details and information are missing.

April 28: Anil says RIL shares are undervalued and accuses RIL board of rejecting his requests for clarifications at the board meeting. RIL board denies allegation.

June 15: Sources say settlement likely on July 6 on which Dhirubhai's death anniversary falls.

June 16: Reliance settlement is most likely to be structured around a demerger. Reliance Industries' stake in Reliance Energy, Reliance Capital and Reliance Infocomm will get de-merged into a separate company.

June 18: Ambanis settle ownership issue under the guidance of their mother Kokilaben Ambani and on the basis of the settlement plan drafted by ICICI Bank CEO K V Kamath.

rediff Business Desk

MORE FROM REDIFF

WEB STORIES

10 States, 10 Delicious Coconut Recipes

Which States Produce The Most Coconuts?

Asus VM240 AiO Arrives On Indian Shores

VIDEOS

NEWS BUSINESS MOVIES CRICKET SPORTS GET AHEAD REDIFF-TV REDIFF ASTRO MOBILE RECHARGE BILL PAYMENTS