*Ambani saga: Date by date* · July 2002: Dhirubhai Ambani dies. Mukesh Ambani appointed Reliance Industries CMD and Anil Ambani becomes vice-chairman
· Nov 2004: Feud between the brothers becomes public · Jun 2005: Family reaches a settlement to split the Reliance group in a deal brokered by Kokilaben · 2006: Formal split takes place, with Mukesh taking control of flagship RIL, with interests in petrochemicals, oil and gas exploration, refining and textiles. The Anil Dhirubhai Ambani Group gets telecoms, power, entertainment and financial services. The Group includes Reliance Communications Ltd, Reliance Infrastructure Ltd, Reliance Capital Ltd, Reliance Natural Resources Ltd (RNRL) and Reliance Power · July 2008: Reliance Comm calls off merger talks with South Africa's MTN after Mukesh makes a claim on the shares of Anil's telecom firm · Jun 2009 : RNRL wins a case in the Bombay High Court, asking his elder brother's company to honour the family agreement. RNRL files caveat in apex court on gas price issue following the order · July 2009: Reliance Industries says it will appeal to the Supreme Court against High Court ruling. Says supplies to Reliance Industries not possible at $2.34 per unit, as it is bound by government price of $4.20 per unit RNRL moves Supreme Court to make gas supply from KGD6 binding on Reliance Industries Reliance Industries moves apex court challenging high court orders saying the verdict erred in deciding the three terms - quantity, tenure and price of gas supply. The government files a petition wanting Ambani family pact that deals with gas supplies to be declared null and void. Government says gas is its property · July-Aug , 2009: Anil Ambani lashes out at oil ministry for allegedly favouring his elder brother. Matter also rocks parliament, where Samajwadi Party leader Mulayam Singh Yadav demands resignation of Petroleum Minister Murli Deora. But Deora says gas does not belong to either Mukesh or Ambani, but the government. · Sep 2009: NTPC signs pact with Reliance Industries to buy a part of natural gas, other than the quantity under dispute, at $4.20 per unit · Oct 2009: A three-member bench, including Chief Justice K.G. Balakrishnan, of the Supreme Court begins hearing arguments in the case · Nov 2009: The hearing is disrupted when a judge withdraws, citing potential conflict of interest as his daughter worked at a firm that was a consultant to Reliance Industries. A new three-member bench that also includes the chief justice begins hearing arguments from scratch · Dec 18, 2009 - Court finishes hearing the case and reserves judgement. · May 7, 2010: The Supreme Court rules in favour of Mukesh Ambani says the family MoU between the two brothers is not binding and asks the brothers to renegotiate the deal -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
