No stakeholder complained on Reliance issues: Minister

Amid the ongoing Ambani tussle, Company Affairs Minister Prem Chand Gupta on Tuesday said that no stake-holder of Reliance had so far compla...

Amid the ongoing Ambani tussle, Company Affairs Minister Prem Chand Gupta on Tuesday said that no stake-holder of Reliance had so far complained about any issue, including corporate governance and buyback of shares in flagship company Reliance Industries Ltd.

“No complaint has been received from any stakeholder in Reliance by us on any of the issues,” Gupta said when asked about the issues of corporate governance and Anil Ambani’s assertion that “there was more than meets the eye” in relation to the purpose of buyback of shares by RIL, headed by elder brother Mukesh. He, however, said that the “government is aware of its responsibilities and will take appropriate action as and when necessary in any case”.

Asked if government would initiate some action in relation to Reliance in view of the issues raised by Anil, including relating to Reliance Infocomm, the minister said, “I will not comment about individual companies.”

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On whether Mukesh Ambani, who came to Delhi earlier during the day, approached him, Gupta said, “None of the brothers have come and met me in this connection (Reliance controversy). It is learnt that the Reliance chairman paid a courtesy call to Prime Minister Manmohan Singh on Tuesday.

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