New Delhi:
Shareholders expecting the bonus of Anil Ambani attending the Reliance Industries' Annual General Meeting (AGM) on Friday are likely to be disappointed.
Sources close to Anil and Mukesh Ambani have denied that the siblings will use the meeting of RIL, owned by Mukesh, to publically establish that the hatchet stands officially buried.
Newspaper reports on Thursday morning said that the meeting would feature Anil, as well as his mother, Kokilaben.
Sources say, that was never considered and that Anil will find a passing mention in older brother Mukesh's speech. "We hope to have harmonious relationship with ADAG group," is what Mukesh is likely to state, while focusing his speech, as usual, on Reliance's growth path, and its entry into new areas like telecom and power, made possible by the new truce with Anil.
The ADAG, or Anil Dhirubhai Ambani Group, faced a setback recently, after a Supreme Court verdict on a major bone of contention between the two brothers: the price and supply of gas from Mukesh's gas fields in the Godavari basin to Anil's power plants.
Anil wanted the gas to be sold at a below-market rate agreed upon in a family understanding mediated by Kokilaben in 2005. Mukesh, however, argued that the price had to be raised after the government objected to the rate decided upon by the Ambanis.
The Supreme Court ruled that gas is a national asset and therefore, the government alone decides on its prices and supply. The court also gave the brothers six weeks to work out a new agreement in keeping with government guidelines on prices and supply.
At the AGM, Mukesh will appraise shareholders of the gas purchase agreement between RIL and ADAG, reaffirming RIL's commitment to supply gas to his brother's power plant, when it is ready, subject to government approvals.
On May 23, the Ambanis agreed to discard their differences and non-compete agreements. Telecom and power, both Anil's turf- will now be a major part of Mukesh's plans.
However, these plans, sources tell NDTV, do not involve either direct or indirect investment in ADAG. The reference here is to reports that RIL may buy indirect state in ADAG's Infratel, its telecom infrastructure arm.
Whether or not the brothers have better or altered personal dynamics, sources confirm that the last place these will be expressed is at the RIL AGM. Mukesh doesn't like surprises, say those who know him best, and he likes to keep his shareholders' meetings simple and to the point.
Sources close to Anil and Mukesh Ambani have denied that the siblings will use the meeting of RIL, owned by Mukesh, to publically establish that the hatchet stands officially buried.
Newspaper reports on Thursday morning said that the meeting would feature Anil, as well as his mother, Kokilaben.
Sources say, that was never considered and that Anil will find a passing mention in older brother Mukesh's speech. "We hope to have harmonious relationship with ADAG group," is what Mukesh is likely to state, while focusing his speech, as usual, on Reliance's growth path, and its entry into new areas like telecom and power, made possible by the new truce with Anil.
The ADAG, or Anil Dhirubhai Ambani Group, faced a setback recently, after a Supreme Court verdict on a major bone of contention between the two brothers: the price and supply of gas from Mukesh's gas fields in the Godavari basin to Anil's power plants.
Anil wanted the gas to be sold at a below-market rate agreed upon in a family understanding mediated by Kokilaben in 2005. Mukesh, however, argued that the price had to be raised after the government objected to the rate decided upon by the Ambanis.
The Supreme Court ruled that gas is a national asset and therefore, the government alone decides on its prices and supply. The court also gave the brothers six weeks to work out a new agreement in keeping with government guidelines on prices and supply.
At the AGM, Mukesh will appraise shareholders of the gas purchase agreement between RIL and ADAG, reaffirming RIL's commitment to supply gas to his brother's power plant, when it is ready, subject to government approvals.
On May 23, the Ambanis agreed to discard their differences and non-compete agreements. Telecom and power, both Anil's turf- will now be a major part of Mukesh's plans.
However, these plans, sources tell NDTV, do not involve either direct or indirect investment in ADAG. The reference here is to reports that RIL may buy indirect state in ADAG's Infratel, its telecom infrastructure arm.
Whether or not the brothers have better or altered personal dynamics, sources confirm that the last place these will be expressed is at the RIL AGM. Mukesh doesn't like surprises, say those who know him best, and he likes to keep his shareholders' meetings simple and to the point.
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