Anil questions Meswani’s role in Ambani family issues

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New Delhi, May 3: In a clear signal to “outsiders” to keep out of the efforts by the Ambani family to resolve the ownership dispute in the Reliance empire, Anil Ambani on Tuesday attacked a cousin who is an executive director on the flagship company RIL’s board. The younger Ambani sibling, RIL vice-chairman and managing director, accused Nikhil Meswani, who is close to elder brother Mukesh, of “misleading” the media and investors on family issues. Speaking through his spokesperson, Mr Anil said: “Nikhil Meswani is not involved in discussions in the family to resolve the dispute, he has no locus standi.”

Later in the evening, RIL, headed by Mukesh Ambani, spokesperson “strongly refuted” allegations propagated through a section of the media against Nikhil Meswani, who, however, did not comment on the issue. “All allegations are baseless,” the spokesman said.

Speaking from Mumbai, Mr Anil’s spokesperson said: “Mr Nikhil was involved in false briefing in violation of Sebi’s Insider Trading Regulation and Fradulent Trade Practice Regulation,” adding, “strong regulatory action is required to protect interests of Reliance shareholders.” The sudden attack on Mr Meswani is seen as an indicator of Mr Anil’s desire not to allow any “outsider” to come in the way of a settlement being worked out by mother Kokilaben. Sisters Dipti and Nina are also in the picture.

Reacting to RIL’s denial, Mr Anil’s spokesperson said: “Reality of Mr Nikhil’s role in the matter is well known to a large number of mediapersons with whom he has been regularly interacting over the past few months.” Ever since the board meeting of RIL on April 27, where Mr Anil Ambani had declined to sign the Financial accounts and sought “immediate termination” of ongoing buyback programme, there had been some reports quoting sources in the Mr Mukesh camp that younger brother’s action could affect negotiations that were completed to the extent of 90%. However, Mr Nikhil Meswani has not made any formal commenton the settlement issue.