The long-drawn dispute between the two Ambani brothers took another turn on Sunday, with both Mukesh Ambani and Anil Ambani saying all disagreements can be sorted in a cordial and conciliatory manner.
While Anil Ambani issued a statement earlier in the day that he has "maintained the greatest of love, affection and respect for Mukesh," Reliance Industries led by his elder brother responded that "both the RIL chairman as also RIL have always wished him (Anil) well and will continue to do so".
While the apparent change of heart ahead of the October 20 hearing of the dispute over KG gas in the Supreme Court surprised many, any early resolution of the dispute seems unlikely. Though RIL said it welcomed this "positive indicator" and will not be found wanting in responding to them constructively, the statement was quick to add that private differences between two brothers or two corporate entities can now only be decisively resolved by a decision of the highest court.
The RIL statement, issued late at night, also showed that the Mukesh Ambani camp isn't yet ready to take Anil Ambani's statement at face value. "RIL sincerely hopes that any overture for rapprochement to end acrimony is in no way related to the ongoing hearing of the case in the Supreme Court," the statement said.
The statement also added that "Sadly, the conduct of ADAG so far makes it difficult for RIL to believe that Anil Ambani has had a real change of heart. For the last many years, he has indulged in a malicious campaign against RIL and its chairman."
The reference was to Anil Ambani's statements during a Reliance Natural Resources Ltd AGM in July this year. He had said that there was a thin line between need and greed and that RIL's corporate greed is a stumbling block in RNRL's future.
Earlier on Sunday, on his return trip from a pilgrimage to Kedarnath and Badrinath, Anil Ambani had said the elder statesmen and family friends wanted an end to the current impasse.
"The issues are only a handful, and the facts are well known. My judgement says they can all be resolved in a matter of weeks, and will not require several months of discussions," he added.
The two brothers, who split the family assets in 2005, are fighting a case in the Supreme Court over the allocation of gas from the Krishna-Godavari basin being developed by RIL to a power plant that Anil Ambani wants to set up in Uttar Pradesh. The hearings will resume on October 20.
Sunday's overtures from Anil Ambani follow a controversy over marketing margins that RIL was charging Reliance Infrastructure to supply KG gas to a power plant in Andhra Pradesh. Last week, RInfra agreed to pay the marketing margins but said it would do so under protest.
RIL also said that the dispute under litigation was not merely a family matter and that vital national interests in terms of securing the government's revenue from the natural gas are at stake.
"The interests of RIL's shareholders are also at stake. RIL does not belong to a family. It belongs to shareholders, to those associates who have made this journey possible and most importantly to the nation," RIL said.
Mukesh refuses to hum Anil's tune
If Anil Ambani had hoped that his offer of peace with his formidable elder brother would be reciprocated with friendly language or an offer of talks, a dampener followed soon enough from Reliance Industried Ltd.
In a dry statement, which would have been issued with Mukesh Ambani's approval, RIL said four things, in effect. One, it was glad better sense seemed to have come to Anil. Two, that it still doubted his sincerity in asking for talks on peace. Three, that the case between the two in the Supreme Court (first petitioned by RIL) wasn't a private affair to be settled with talks. Four, and finally, that if Anil did prove himself sincere in wanting an end to war, RIL wouldn't be found wanting.
Goes the Mukesh comment: "RIL has noted the comments made by Anil D Ambani with the care and concern they deserve. RIL welcomes this statement, and hopes it is a positive change in the negative, calumnious and malafide campaign launched by R-ADAG against RIL."
"RIL believes there is no contentious issue in the world that cannot be resolved satisfactorily through mutual dialogue, provided the proposal for reconciliation is anchored in good and honest intentions. RIL has always maintained that the dispute under litigation is not merely a family matter, as Anil Ambani's statement once again tries to make out to be."
"Vital national interests in terms of securing government's revenue from natural gas...and GoI's sound policy framework for promoting India's energy security, are at stake. The interests of RIL's shareholders are also at stake. RIL does not belong to a family.
It belongs to shareholders, to those associates who have made this journey possible and most importantly to the nation. Issues which arise out of a decision of the Bombay high court transcend any private differences between two brothers or two corporate entities (which) now can only be decisively resolved by a decision of the highest court."
"RIL sincerely hopes that any overture for rapprochement to end acrimony are sincere and in no way related to the ongoing hearing of the case in the Supreme Court. Sadly, the conduct of R-ADAG so far makes it difficult for RIL to believe that Anil Ambani has had a real change of heart. For the last many years, Anil Ambani has indulged in a malicious campaign against RIL and its Chairman. The campaign reached its nadir in recent months through a vicious series of advertisements, unprecedented in India's corporate history. RIL. while denying all the false accusations has responded to this campaign with dignified silence."
While Anil Ambani had been repeatedly proclaiming that Mukesh had rebuffed him at every attempt to talke peace over the past three-odd years, the RIL statement says this is a lie, in effect.
"What is both saddening and perplexing is that Anil Ambani has yet again sought to communicate to RIL and its Chairman through the public domain, whereas he could have easily contacted his elder brother directly. To demonstrate that his intentions behind the latest overture are bonafide, we urge Anil Ambani to put his sentiments into actions. We can now only hope that the deeds of Anil Ambani and his associates are reflective of the emotions expressed in the statement."
"In the last 48 hours itself, Anil Ambani & R-ADAG have made allegations against the (RIL) Group and its directors which are not only untrue but increasingly hurtful. Hopefully, this way of engagement shall also change."
And, in conclusion, a slightly more conciliatory note, "On its part, both the RIL Chairman, as also RIL, have always wished him well and will continue to do so Finally, RIL welcomes this positive indicator and will not be found wanting in responding to them constructively."
