Mukesh Ambani wins war of tycoons with Anil
Less than two weeks ago, Mukesh Ambani watched from the stands as his cricket franchise Mumbai Indians lost to the less-fancied Chennai team in the glitzy final of the Indian Premier League tournament. On Friday, the country's richest man, stayed away from the Supreme Court when it ruled in favour of his firm, Reliance Industries, in a gas pricing dispute with Reliance Natural controlled by billionaire younger brother Anil. Anil was grim faced as he strode through a wall of reporters outside court, not commenting on the case that he has been loquacious about in the past, accusing the government of taking Mukesh's side in newspaper ads and near-daily conference calls. But no one expects this to mark the end of their fight. "This is no way anywhere near the end," said Arun Kejriwal, director at KRIS, a research firm based in Mumbai. "There is no give and take in this relationship, and relations cannot improve now. If anything, they could worsen from this point. And that can mean more trouble," he said. Heated discussions about the feud and the brothers' management styles are often the topic of conversation in the corporate world in Mumbai where they live, among political honchos in Delhi and in the wealthy Gujarati community to which they belong. >>Read more....
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