Unadulterated Arrogance

Monday, November 29, 2004

Family Feud

Its Mano-a-mano, Anil Ambani Vs. Mukesh Ambani in now what is the infamous Reliance Industries imbroglio. Dhirubhai Ambani, was a pioneer and a statesman who was solely responsible for the emergence of Reliance Industries Ltd., a multi billion dollar conglomerate, this half yearly gross turnover of RIL is circa $9500 Million USD. After the death of their father; who ironically died intestate,the two siblings have been at each others throats.

I have always believed that in business everything is fair, its all about the money, there should be no compassion whatsoever but there are instances where even I draw the line, namely family. You should always have your priorities right, first priority should always be family and nothing should come before that, alas not even money.

Though I'm not a practioneer of law, I'm nevertheless well versed in law and in particular The Contracts Act and The Companies Act. The manner in which Mukesh Ambani redefined his powers is not in accordance with the Indian Companies Act of 1956. Similarly the powers of Anil Ambani; which where vested by an annual general body meeting, cannot be curtailed without a seperate board resolution at another AGM which should have been properly discussed and minuted. Professional attorneys might find a few flaws in my stance and I'm aware of that. Anyways my full backing is with Anil Ambani. Kill em tiger.....


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