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India: Reliance finds an amicable solution; RIL to remain with Mukesh
In sudden change of events, Kokilaben the mother of Mukesh and Anil Ambani and wife of late Shri Dhirubhai Ambani has helped the two brothers reach a compromise on sharing the stake in the Reliance Group of Industries, where RIL will remain with Mukesh an...more
by Vikas Srivastava
View more news from [ Mumbai ] [ India ]
In a fight that ensued over sharing the stakes in the Reliance Group of Industries after the death of Dhirubhai Ambani, the two brothers Mukesh and Anil Ambani have finally found an amicable solution to share the booty that their father had left behind. Kokilaben their mother has been instrumental in reaching a compromise between the two brothers.
According to sources in the Company Mukesh Ambani will have Reliance Industries Ltd. (RIL) and IPCL, whereas, Anil Ambani has agreed to take Reliance Infocomm, Reliance Energy and Reliance Capital.
Reliance Industries Ltd which from now onwards will be with Mukesh Ambani is the worlds second largest producer of Polyester and along with the acquisition of Trevira and


its plan to double its capacity by next year would soon be leading the pack in Polyester production. Reliance is the only company in India with fully backward and forward integrated facilities i.e. from manufacturing crude oil - the intermediate required for Polyester - to production of fabrics i.e. Vimal Suitings.
Also, in its drive to be the best they have started providing complete technical service solution to all its buyers and users across the textile value chain.
Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with turnover of Rs 73,164 crore (US$ 16.7 billion), cash profit of Rs 12,087 crore (US$ 2.8 billion), net profit of Rs 7,572 crore (US$ 1.7 billion) and net worth of Rs 40,403 crore (US$ 9.2 billion).
 



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