The Squabbling between the Ambani brothers which was off for few years is all set to take the center stage again. Guess, Mukesh Ambani shot himself into his foot by unnecessarily dragging Anil Ambani into a new controversy surrounding Reliance Communications and MTN deal. Mukesh who had to part with Reliance’s Telecom venture to Anil after the family division was jealous of Anil’s success had the latter been able to takeover MTN of South Africa which would give the combined entity [RCOM + MTN] higher EBITDA than RIL – Mukesh’s cash cow.
This time around Anil Ambani was very lucky and made the right move at the right time to influence the Government of India led by the Prime Minister Dr. Singh and Congress President Sonia Gandhi through his trusted lieutenant – Amar Singh.
Amar Singh has raised the issue of Reliance Petroleum enjoying EOU benefits when India as a nation is in deep Oil crisis. The Government under pressure from various other parties is seriously considering to levy a Tax / Duty on such refineries [Reliance Ind, Cairn and Essar] to offset for the losses incurred by PSU refineries and Oil companies. This led to unloading of RIL stock on the Mumbai Stock Exchange and the stock has hit a day’s low of Rs 1,997 breaking the psychological Rs 2,000 support level.
Instead of fighting over family business and supremacy, get into the wonderful world of R&D and innovation and sky is the limit to your business.