Keep both pacts separate: Mukesh warns Anil
Mukesh Ambani's side cautions the Anil's camp not to create confusion between the family settlement and agreements signed between the two groups.business Updated: Jun 14, 2008 22:57 IST
The controversy between Ambani siblings over division in Reliance empire on flared up with Mukesh Ambani's side cautioning Anil's camp not to create confusion between the family settlement and agreements signed between the two groups.
Amid battle of the two groups over a potential 70-billion dollar deal between Anil-led Reliance Comm and South African telecom giant MTN, sources close to Mukesh-led RIL said that enforceability of agreements signed in 2006 has been asserted with "full sense of restraint and responsibility" and RIL expects all parties to maintain same level of responsibility.
RIL sources also questioned the claims of the other camp that RCOM had responded to the contentious communication from RIL about the deal.
RIL has not received any communication from Anil Ambani group, sources said, questioning the claims made by RCOM.
"RIL in its communication has merely asserted its enforceable rights and has appraised all parties concerned. It has done so with full sense of restraint and responsibility and expects all parties to maintain the same level of responsibility," they added.
"The family arrangement of June 2005 is distinct and different from the non-competition agreement dated January 12 2006, and the gas master supply agreement, to both of which RIL was a signatory," they added.
The sources further said that these two agreements, executed pursuant to the sanctioned scheme of demerger, are not to be confused with the family MOU as these are distinct and separate and contain distinct rights and obligations.