Friday, August 7, 2009

Gas row: Ambani brothers trade charges

MUMBAI: Personal sensitivities of Ambani brothers were on public display today with Mukesh expressing sadness at allegations levelled by Anil,
who in turn wondered if it was vendetta, greed or advisers who were motivating his elder brother.


In its first statement after a series of allegations levelled against it by Anil Ambani and his group companies, RIL said: "We shall continue to exercise restraint in the face of Anil Ambani's provocative public statements. We hope that Anil and his associates will also exercise similar restraint and leave the matter to be decided by the Supreme Court."

"While Mukesh Ambani is profoundly saddened by his brother's remarks, he requests the media to respect his decision not to respond," RIL's petroleum business president Atul Chandra said, reading out from the statement.

This was in reply to "several personal commentrs" made by Anil, including his accusation that Mukesh had traded his father's vision for corporate greed and that he was against any role for their mother in settling the dispute.

In no time, Reliance Power CEO J P Chalsani released Anil's statement that said the younger Ambani was "pained" to see RIL doing everything to renege on its binding commitments under his "respected elder brother's leadership."

"This is so contrary to the fundamental values... that my visionary father, Dhirubhai Ambani, stood for... Whatever be the reason... and I have no idea what it is...corporate greed, personal vendetta, misguided advise from the 3Cs - chelas, chamchas and cronies," Anil said.



Anil had made similar comments in the run up to his parting ways with Mukesh, while advising Mukesh to beware of the '3Cs'.

The exchange of barbs came ahead of the scheduled hearing of their cross-appeals by the Supreme Court on September one. While Anil group has sought implementation of the June 15 Bombay High Court order that asked RIL to supply 28 mmscmd of gas to RNRL at $2.34 per mmBtu for 17 years, it has been challenged by the other side.

RIL also accused that Anil and "his associates have attempted to convert what are essentially legal issues into public issues for a self-serving media campaign aimed at maligning RIL as also other venerable institutions of the country for private and personal gains."

"It is unfortunate... and deeply, deeply distressing to me at a very personal and emotional level," Anil replied, terming RIL's media statement as "Mukesh Ambani's purported remarks."

"We have the highest respect for the Supreme Court and our every action will always preserve its dignity and honour," Chalsani said responding to RIL's comments.

"RIL's utter disrespect and disregard, on the other hand, for the judiciary is visible in its refusal to even implement the Mumbai High Court's judgment to enter into a bankable gas supply agreement within 30 days - even though that judgment has not been stayed by a superior Court," he said.

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