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Mukesh accuses Anil for delay in settlement

Under attack from Anil Ambani for unfairly delaying the settlement, elder brother Mukesh Ambani accused the other side for the delay.

india Updated: Feb 05, 2006 22:40 IST

Under attack from Anil Ambani for "unfairly" delaying the settlement on Reliance Empire, elder brother Mukesh Ambani group on Sunday retaliated and accused the other side for the delay.

Dismissing allegations by Anil Ambani camp, the Mukesh Ambani controlled Reliance Industries Limited said it was the other side, which was delaying the transfer of the demerged entities.

Reacting to the statement by Anil's confidant Satish Seth in Mumbai, the Chairman of the four demerged entities, Sandip Tandon said that "we will be happy to hand over the companies on Monday, we don't want on to cling on to these companies."

When his attention was drawn to the allegations made in the statement, he said, "I deny all the allegations. It was the Anil camp which was pressing for delayed listing, especially of Reliance Communication Ventures Ltd."

He said in his e-mail to Gautam Doshi of Anil camp on February 4, he had pointed that it was learnt that a letter had been addressed to SEBI with copies to BSE and NSE suggesting that listing should be staggered and deferred from mid-February to mid-March.

"As far as we are concerned we have completed all formalities for listing of three companies - Reliance Capital Ventures Limited, Reliance Energy Ventures Limited and Reliance Natural Resources Ltd -- and if tomorrow these companies are listed we will hand over them to Anil Ambani," Tandon said.

First Published: Feb 05, 2006 22:17 IST