Anil asks Mukesh to resolve issues cordially

Anil asks Mukesh to resolve issues cordially

Says settlement can be reached in a few weeks of discussion

Anil asks Mukesh to resolve issues cordially

The offer for settlement comes at a time when the group companies of the brothers are involved in a bitter legal battle over supply of natural gas from Mukesh-led RIL to Anil’s group company RNRL.

“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.

“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 said in a statement after returning from pilgrimage to Kedarnath and Badrinath.

Recalls past

Referring to the family settlement reached between them in 2005, which according to him had resolved all issues, Anil said, “Unfortunately, the joy of that achievement has been tempered by the sorrow, pain and anguish of continuing disagreement and acrimony with my elder brother, Mukeshbhai.”

The fight between the brothers, inside and outside the court, had been continuing even after the family agreement was reached in 2005 and Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee wishing amicable settlement between the brothers whose groups have significant presence in the economy.

No comments can be obtained immediately from RIL spokesperson. “There can be no better gift to my mother Kokilaben Ambani in her 75th year, and to the legacy of our beloved father Dhirubhai Ambani, the proud creator of the Reliance Group,” Anil said.

Reinstates faith

Recalling the family settlement in June 2005, he said, “It had blessings and approval of my respected mother, Kokilaben, and in line with the vision and value creation philosophy of our beloved founder Chairman Dhirubhai Ambani.

“I had sincerely believed then that we had resolved all issues, and come to an amicable settlement that would create two of India’s most dynamic business groups, bring peace and harmony to our family, and generate substantial wealth for millions of shareholders of the Reliance family.”

Pointing out that during the past four years he tried with utmost sincerity, humility and good faith to resolve the differences, Anil said, “To my lasting regret, despite all my well-meaning efforts, I have failed.”

The situation, he added, pushed “us even to the extreme step of recourse to litigation to protect the interests of over 11 million shareholders of our group.”
The Supreme Court will commence hearing from October 24 2009 on the legal dispute between two brothers wherein Anil’s RNRL is seeking gas at $2.34 per mmBtu from RIL, which had expressed its inability citing government’s policy.

Noting that this has been a time of deep sadness and pain, Anil hoped, “with the blessings of my mother, and invoking the power of Lord Shiva from this most sacred of holy places, I am once again reaching out to Mukeshbhai — and hope and pray that my feelings will be reciprocated.

“We will arrive at a solution to all outstanding issues, with a generous heart, a willing mind, and an accommodating spirit,” he said. Expressing his feelings for the estranged brother, Anil said even during the trying period, he “maintained the greatest of love, affection and respect for Mukeshbhai — as I have done since my birth.”

It was in that spirit, he added, “I have made this pilgrimage 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.”