After several months of war of words and legal wrangling over the contentious issue of gas supply, the warring Ambani brothers could be headed for an out of court settlement, provided their mother plays the role of the mediator once again. Anil Ambani's lawyers told the Bombay High Court on Aug. 21 that the younger of the Ambani siblings was ready to meet his elder brother Mukesh "anywhere, anytime" to resolve the long-standing dispute between the two groups.
The suggestion was made by Ram Jethmalani, the lawyer for RNRL during the course of arguments before the court over the controversial issue of gas supply from Reliance Industries' Krishna Godavari basin to the Dadri power project in Uttar Pradesh. However, he added that Anil wants Kokilaben to intervene in the matter. It may be recalled that she had played a crucial role in dividing the Reliance group's assets between the two estranged brothers in June 2005.
"We are prepared to have this particular issue decided by Kokilaben. They may meet with their mother without the lawyers," Jethmalani said. " The court can call both Mukesh and Anil to explore the possibility of an out-of-court settlement and Anil is willing to attend at a time convenient to the judges." Some weeks ago, Harish Salve, RIL's counsel had said the company is not the family property of the Ambani family and the court has no jurisdiction in altering the demerger.
"If you go by MoU approach, you will take RIL as the family property of the Ambanis. The demerger scheme was agreed upon by both the parties with open eyes. Any directions by the court in this regard will mean corporate democracy going to the dogs. The suitable arrangement must be found within the scheme and not outside it," Salve had said.
The suggestion was made by Ram Jethmalani, the lawyer for RNRL during the course of arguments before the court over the controversial issue of gas supply from Reliance Industries' Krishna Godavari basin to the Dadri power project in Uttar Pradesh. However, he added that Anil wants Kokilaben to intervene in the matter. It may be recalled that she had played a crucial role in dividing the Reliance group's assets between the two estranged brothers in June 2005.
"We are prepared to have this particular issue decided by Kokilaben. They may meet with their mother without the lawyers," Jethmalani said. " The court can call both Mukesh and Anil to explore the possibility of an out-of-court settlement and Anil is willing to attend at a time convenient to the judges." Some weeks ago, Harish Salve, RIL's counsel had said the company is not the family property of the Ambani family and the court has no jurisdiction in altering the demerger.
"If you go by MoU approach, you will take RIL as the family property of the Ambanis. The demerger scheme was agreed upon by both the parties with open eyes. Any directions by the court in this regard will mean corporate democracy going to the dogs. The suitable arrangement must be found within the scheme and not outside it," Salve had said.
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