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How the Ambani brothers fell apart

12 October 2009 No Comment

ambani brothers * July 2002 – Dhirubhai Ambani, founder of the Reliance business empire, dies. Mukesh Ambani becomes chairman & MD of Reliance Industries and Anil Ambani is made vice-chairman
* Nov 2004 – Feud between the brothers becomes public
* June 2005 – Family reaches a settlement to split the Reliance group in a deal brokered by mother Kokilaben
* 2006 – The formal split takes place, with Mukesh taking control of flagship Reliance Ind with interests in petrochemicals, oil and gas exploration, refining and textiles. He has since launched a retail venture

Anil gets telecoms, power, entertainment and financial services. The Anil Dhirubhai Ambani Group (ADAG) now includes Reliance Communications, Reliance Infrastructure (previously Reliance Energy), Reliance Capital, Reliance Natural Resources (RNRL), Reliance Power Ltd and a controlling stake in Adlabs Films

* July 2008 – Reliance Comm calls off merger talks with South Africa’s MTN after Mukesh makes a claim on the shares of Anil’s telecoms firm
* June 2009 – Bombay HC directs Reliance Ind and RNRL to enter a gas supply agreement within a month

NON-COMPETE PACT

* Before the official split, Reliance Ind signed an non-compete agreement in January 2006 with the firms that were to be handed over to Anil but which at the time it still controlled

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