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Ambani brothers visit power corridor

business Updated: May 26, 2010 23:25 IST
Anupama Airy

From the corridors of court room to corridors of power, the Ambani brothers — within days of their unexpected truce — were seen meeting top ministers and bureaucrats on Wednesday.

Speaking to the Hindustan Times, union power minister, Sushil Kumar Shinde confirmed his meeting with Anil Ambani. “He (Anil) met me and briefed about the settlement reached with his brother (Mukesh),” Shinde said.

Anil also called on T.K.A. Nair, Principal Secretary to the Prime Minister, Home Minister P. Chidambaram, besides his meeting with Shinde and Power Secretary P. Uma Shankar.

On the other hand, Mukesh Ambani, who was here to participate in the Prime Minister’s Council on Trade and Industry, is understood to have met Finance Minister Pranab Mukherjee, Finance Secretary Ashok Chawla, Transport Minister Kamal Nath besides other senior government officials.

Other top industrialists who attended the PM council meet included Ratan Tata, Sunil Mittal besides banker Chanda Kochhar. While both sides offered no comments, sources close to Ambani brothers said it was a sheer coincidence that the two brothers happened to be in the capital the same day.

The Ambani brothers on Sunday had announced scraping a non-compete agreement that prevented the other from entering businesses run by each other’s group ranging from petrochemicals to telecom to finance. The only exception being that Mukesh would not enter gas-based power production till 2022.

The peace between the two brothers came after a four-year court battle over supply of gas to Anil Ambani-run RNRL by Mukesh Ambani-led RIL.

Today’s meetings with ministers and bureaucrats come ahead of the two sides starting formal re-negotiation on gas supply as ordered by the Supreme Court in its May 7 verdict.