Tags:
Journalism of Courage
A month after Mukesh Ambani’s famous ‘ownership issues’ remark, the shadowy mails-and-minutes battle being fought via the media continues at the Rs 99,000-crore Reliance group. Here’s a recap:
Nov 18: There are ownership issues, admits Mukesh Ambani
Nov 19: Reliance shares slip
Nov 21: Anil asks mother to settle dispute
Nov 22: Mukesh clarifies, says Dhirubhai had settled ownership issues
Nov 23: Mukesh letter to 80,000 employees: CMD is final authority
Nov 23: Reliance director M L Bhakta resigns
Nov 24: Bhakta to reconsider quitting
Nov 25: 6 directors quit Reliance Energy (REL); Reliance m-cap down Rs 2,509 crore; Emails show Anil unhappy over clause re-defining Mukesh’s powers in July 27 RIL board meet
Nov 29: Anil writes morale-booster to REL staff
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30 days for investors
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• Total m-cap of five Reliance companies fell by a whopping Rs 9,930 crore |
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Nov 30: REL board agrees to consult RlL for every move; 6 directors asked to reconsider quitting
Dec 2: RIL investment of Rs 8,100 cr in Infocomm in the spotlight
Dec 5: Talk of settlement(s) in the air
Dec 6: REL forms leadership council
Dec 7: REL says RIL board was kept informed of decisions
Dec 8: Anil camp questions ownership claims of Mukesh
Dec 9: Reports that Mukesh got 12 pc sweat equity in Infocomm
Dec 12: REL seeks RIL view on gas supply, directors’ tenure
Dec 13: Sebi asks bourses to look into corp governance issues in Reliance
Dec 14: Reports that Anil blocked Infocomm share conversion in 2003 and 2004
Dec 15: Anil seeks RIL board meet to discuss recent developments; S&P hints at possible review of Reliance rating
