The unbroken legacy of the famous father, late Dhirubhai Hirachand Ambani - Reliance Industries Ltd, a Fortune Global 500 company, has been split, finally.
Finally, because immediately after the death of senior Ambani, fissures in the relationship between brothers were clearly visible three years back, as the heir apparent Mukesh (elder son) went ahead to stamp his authority over the company board while the younger brother Anil, approached the press in a unrelentless campaign to question certain corporate decision taken under the elder's stewardship.
The battle for the hold over the Rs 99,000 crore (US$ 22.6 billion) empire went through a high drama with the Dhirubhai's widow making all attempts, including roping in relatives, political leaders and religious leaders, who ultimately washed their hands off to bring the two feuding brothers call truce.
When no solution was in sight, a close family friend K V Kamath, a former ICICI Bank chief and first to offer Dhirubhai loan in his struggle period, called in to mediate, and this arrangement is the culmination of it all.
In a signed statement released on the Reliance website by Kokilaben reads:
"With the blessing of Shrinathji, I have today amicably resolved the issues between my two sons, Mukesh and Anil, keeping in mind proud legacy of my husband, Dhirubhai Ambani.
I am confident that both Mukesh and Anil , will resolutely uphold the values of their father and work towards protecting and enhancing the value for over 3 million shareholders of the Reliance Group, which has been the foundation principle on which my husband built India's largest private sector enteprise.
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