Give back RIL post, says Anil

New Delhi, Nov. 25: The Reliance ADAG chairman, Mr Anil Ambani, on Wednesday made a plea in the Supreme Court to restore his directorship of the parent Reliance Industries Ltd, from which he had resigned after the July 2004 MoU for its demerger, if elder brother, Mr Mukesh Ambani, did not honour the accord.

Mr Anil Ambani’s counsel, Mr Ram Jethmalani, continuing his arguments on the validity of the MoU in the hotly contested gas supply dispute between the companies of the two brothers, asserted that if Mr Mukesh Ambani refused to “honour” the accord in letter and spirit, then the younger brother was entitled to be restored to his position prior to July 2004 in the RIL board.

Mr Jethmalani said under Section 392 of the Indian Companies Act, Reliance Industries could not claim that division of the family business between the brothers, brokered by their mother, was not an enforceable accord.