Posted on 11/26/2004 3:22:51 AM PST by CarrotAndStick
MUMBAI/NEW DELHI: On the face of it, the Ambani brothers, scions of the founding family of India's largest private-sector conglomerate, Reliance, are as different as the various businesses that make up the group.
Mukesh, 47, is soft-spoken and had kept a low profile until talk of a rift between the two brothers broke into the open this past week. Anil, 45, has largely been the face of the group and appears to be perfectly at ease being in the public eye.
Founded in 1958 to trade in synthetic yarn, the company has expanded to include interests ranging from petrochemicals and refining to exploration and production of oil and gas, textiles, financial services, power, biotechnology and telecommunications.
Their father and Reliance founder Dhirubhai Ambani, a school teacher's son, died in July 2002, but his presence looms large at news conferences and business interactions as the two brothers regularly quote their father. His portrait is often displayed.
While the elder son presides over the group flagship, Reliance Industries Ltd, and telecoms arm Reliance Infocomm, Anil runs Reliance Energy Ltd and Reliance Capital Ltd..
Mukesh, a chemical engineer with a business degree from California's Stanford University, joined the company in 1981. Anil, who earned an MBA from Wharton on the opposite US coast, joined the company two years later.
Reliance Industries is India's largest petrochemicals maker and the largest private-sector refiner. It is also India's second-most-valuable company, with a market capitalisation of $17 billion, and accounts for 3.5 per cent of gross domestic product.
Following months of speculation about a rift between the two brothers, Mukesh took out large front-page advertisements in newspapers this week, claiming his comments on "ownership issues" made in a television interview were taken out of context.
The dispute seemed to escalate on Thursday as six directors quit the board of Reliance Energy.
Mukesh is widely seen as the one who draws up plans for the politically well-connected Reliance group. He spearheaded its ambitious and now-successful telecoms foray, which had led to a long-running dispute with other carriers and the government.
Mukesh is also known to dwell on ways to improve India's competitiveness. His wife, Nita, runs the swish Dhirubhai Ambani International School, which is attended by celebrity kids.
As for Anil, he is a stylish man about town, but remains a vegetarian and does not drink or smoke. He has a penchant for designer labels and is married to former Bollywood actress Tina Munim.
"The two brothers have the wisdom, maturity, sagacity and the ability to think long-term, and are not afraid to take on a challenge," said Suhel Seth, chief executive of WPP Plc-owned advertising agency Equus Red Cell.
"Anil himself is forthright and a damn good negotiator," said Seth, who held talks with Anil when WPP had wanted to buy out advertising agency Mudra, in which Reliance has a stake.
The brothers once reportedly prevented the publication of a book on their colourful father by journalist Hamish McDonald. "Polyester Prince" was published worldwide in 1998, but it is still unavailable in India because the Ambanis had reportedly threatened legal action for any defamatory material in the book.
Anil, a self-confessed fitness fanatic, jogs on the streets near his Cuffe Parade residence in Bombay every morning, with his trademark white headband, his chauffeur driving slowly behind. A deeply religious Hindu, he also does yoga and meditation.
A father of two young boys, Anil was voted MTV India's Youth Icon of 2003, beating other nominees such as cricketer Sachin Tendulkar and popular Bollywood actor Shah Rukh Khan.
He is known to be extremely media-savvy, but has kept quiet during the ongoing controversy.
He was called "Marathon Man" by local newspapers after he ran a 21-km half marathon in Mumbai earlier this year.
After being elected in June to a six-year term in the Rajya Sabha as an independent candidate, he announced his arrival in New Delhi by jogging between Parliament house and India Gate.
Now if they can keep it from Communist regulations, it would be a testimony to capitalism there.
This is regarding the Reliance 'ownership issue'
here is a backgound on articles pertaining to it.
http://www.rediff.com/money/ril04.htm
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