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Mukesh begins arbitration over Anil-MTN talks

The fight between Ambani brothers moves into a new arena with Mukesh Ambani-led RIL deciding to “commence arbitration” against Anil Ambani controlled RCom, reports Indulal PM.
By Indulal PM | Hindustan Times, Mumbai
UPDATED ON JUL 18, 2008 12:51 AM IST

The fight between Ambani brothers is moving into a new arena. Mukesh Ambani-led Reliance Industries (RIL) has decided to “commence arbitration” against Anil Ambani controlled Reliance Communications (RCom) over the latter’s merger talks with Johannesberg-based telecom firm MTN.

Anil Dhirubhai Ambani Group’s (ADAG) negotiations for a potential merger deal with MTN hit a roadblock after RIL wrote letters threatening to block any stake sale in RCom that doesn’t give it an opportunity to buy the shares.

RIL has nominated Justice BP Jeevan Reddy, a former judge of the Supreme Court, as an arbitrator to resolve the disputes with RCom. “RCom has refused to participate in the conciliation meetings under the alternate dispute resolution provisions contained in the non competition agreement,” an RIL spokesperson said.

Arbitration is a legal procedure for a resolution of disputes outside the courts. The disputed parties refer it to one or more persons by whose decision they agree to be bound. Last year, the takeover battle between Jet Airways and Air Sahara was settled through arbitration.

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After implementation of the amended Motor Vehicles (MV) Act since September 1, road accidents and fatalities in the state have started declining.(HT PHOTO.)
After implementation of the amended Motor Vehicles (MV) Act since September 1, road accidents and fatalities in the state have started declining.(HT PHOTO.)

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Rajya Sabha chairman M Venkaiah Naidu regularly urges the members of the House to speak in their mother tongue. (ANI)
Rajya Sabha chairman M Venkaiah Naidu regularly urges the members of the House to speak in their mother tongue. (ANI)

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Commuters on their way during cold and foggy morning in New Delhi, India. (HT photo/ Sanjeev Verma)

News updates from Hindustan Times: Delhi NCR air 'severe' and all the latest new

By hindustantimes.com
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Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.
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Flight and train services were disrupted on Saturday morning owing to dense fog in Delhi. (Photo: ANI)

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Low wind speed is not allowing dispersal of pollutants in the air in Delhi NCR.

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In the study, the researchers assessed 97 patients with Covid-19, measuring their mitochondrial DNA levels on the first day of their hospital stays. (Image used for representation).(HT Photo)

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A health worker performs a trial run of Covid-19 vaccine delivery system in New Delhi, India. The global death toll from COVID-19 has topped 2 million.(AP)
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Former Haryana CM Bhupinder Singh Hooda
Former Haryana CM Bhupinder Singh Hooda

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ANI
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Kumari Selja said JJP and the BJP will have to pay a heavy political price in Haryana for supporting the farm laws(HT FILE)
Kumari Selja said JJP and the BJP will have to pay a heavy political price in Haryana for supporting the farm laws(HT FILE)

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A priest offers prayers after the first consignment of Covid vaccine arrives at a storage facility in Ajmer.(PTI)
A priest offers prayers after the first consignment of Covid vaccine arrives at a storage facility in Ajmer.(PTI)

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Kamal Morarka had a keen interest in sports and served as vice-president of the Board of Control for Cricket in India (BCCI) and vice-president of the Rajasthan Cricket Association.(Twitter)
Kamal Morarka had a keen interest in sports and served as vice-president of the Board of Control for Cricket in India (BCCI) and vice-president of the Rajasthan Cricket Association.(Twitter)

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A farmer sitting during an ongoing farmer's protest against the new farm laws, at the Delhi-Ghazipur border in New Delhi. (ANI)
A farmer sitting during an ongoing farmer's protest against the new farm laws, at the Delhi-Ghazipur border in New Delhi. (ANI)

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