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Reconciled Ambani brothers meet ministers

business Updated: May 26, 2010 21:06 IST

Days after burying the hatchet, brothers Mukesh and Anil Ambani on Wednesday moved about in the corridors of power, meeting top ministers and officials who feel their peace plan will do good to the business world.

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 and other senior ministry officials. Besides, he is also believed to have met Transport Minister Kamal Nath.

The younger Ambani, Anil, called on T K A Nair, the Principal Secretary to the Prime Minister, Home Minister P Chidambaram, Power Minister Sushilkumar Shinde and Power Secretary P Uma Shankar.

No comments could be obtained from either side.

The brothers on Sunday agreed to scrap 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 came after a four-year court battle over supply of gas to Anil Ambani-run Reliance Natural Resources Limited (RNRL) by Mukesh Ambani-led Reliance Industries Limited (RIL).

The Supreme Court on May 7 rejected Anil group's plea for cheap gas from RIL on the basis of a family agreement reached in 2005.

Wednesday'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.

On Monday, Finance Minister Pranab Mukherjee and Oil Minister Murlo Deora welcomed the truce between the Ambani brothers. "The agreement to end the long standing dispute between the two brothers was needed. It will have a good effect on other corporate houses who will profit by it," Mukherjee had said.