Estranged billionaire Ambani brothers to celebrate father’s anniversary together

December 27, 2011 15:15
Estranged billionaire Ambani brothers to celebrate father’s anniversary together

Bonhomie seems to grip the Ambani clan, who after splits plan to jointly celebrate the visionary Dhirubhai Ambani’s 80th birth anniversary at their home town Chorwad in Gujarat. This will be the first if media sources are true that the brothers shall join hands to celebrate their father’s birthday in fifteen years. The whole town is awaiting the clan’s reunion on the occasion. As per the source the brothers shall jointly create a memorial for the visionary in the town.

After the 2005 split, officially the brothers met in 2010, when the Supreme Court passed a ruling that brought the brothers back to the negotiating table, where they unexpectedly agreed to scrap the non-competition pact that had been a source of conflict.

Kokilaben, the family matriarch, said it proves that the brothers are together. Kokilaben, who reached the coastal town on Monday to oversee preparations, was the first to arrive. "There is love among the brothers. How do you think they are coming together tomorrow?" said Kokilaben, the mother of the Ambani brothers. She added, “We are all united.”

"Anil Ambani, who is an early riser, is expected to arrive on Tuesday morning while Mukeshbhai will be there after noon," said a senior Reliance Industries official. The programme, spread over two days, includes a special puja at the temple of goddess Chorwadi on Tuesday evening and a ceremony to dedicate a memorial to the founder of India's largest private company.

Dhirubhai Ambani spent his childhood in Chorwad and left to work as an office clerk in Aden, which was then a British colony and is now part of Yemen. He became a spice trader before returning to India to set up a cloth mill in Gujarat, which later expanded into a petrochemicals and energy giant.

Sensex responds: The impact of the feud and reunion was felt by the Sensex. As it dipped when the brothers had a feud, Sensex was also up 34.91 points or 0.22%, off about 45 points from the day's high and up close to 75 points from the day's low, as the rejoining was announced.

Shares of index heavyweight Reliance Industries (RIL) and Reliance Anil Dhirubhai Ambani (ADA) group shares edged higher after Kokilaben Ambani, on Monday, 26 reportedly said that the two brothers do not have any differences between them and that they are together now.

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