The Reliance board has decided to support all new projects started by Anil Ambani-controlled Reliance Energy Ltd REL, a RIL subsidiary. It...
Written by ENS Economic Bureau
Mumbai |
1 min read
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The Reliance board has decided to support all new projects started by Anil Ambani-controlled Reliance Energy Ltd REL, a RIL subsidiary. It also clarified that the resignation by six REL directors in Nov. was not at the instance of RIL.
The board decided that reasonable assistance would be extended to REL in several respects, as desired by REL, without affecting RIL8217;s operations and projects. 8216;8216;We will not let REL die,8217;8217; Director of Reliance Industries Y.P. Trivedi said. The board also decided that it would be prudent to require that large projects of all RIL group companies including REL be considered by RIL for approval. Anil Ambani8217;s decision to announce a Rs 10,000-crore power project in UP was a bone of contention between the two brothers.
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