Reliance Infocomm board reconstituted with new spirit
MIL/Agencies, Jun 26, 2005. Special Correspondent
Mumbai - Anil Ambani has officially taken over as chairman of Reliance Infocomm, today. The Board has been reconstituted after his elder brother Mukesh Ambani resigned as chairman along with five other directors.
The five directors who resigned from the board are Anand Jain, Manoj Modi, Bharat Goenka, Y P Trivedi and M P Modi.The details of the reconstituted board are kept confidential for the time being. Anil was given Infocomm as part of his ownership settlement of the Reliance empire between he and his brother Mukesh Ambani.
According to Agencies, two of the directors -- Y P Trivedi and M P Modi -- were inducted in the Infocomm board on December 27 last year at the height of the battle between Anil and Mukesh.
Anil Ambani, who met Union Communications and IT Minister Dayanidhi Maran last week, is expected to hold a review meeting with the top executives during the day.
Anil, who created Anil Dhirubhai Ambani Enterprises as a distinct entity from Mukesh-controlled Reliance, may also unveil a roadmap for Infocomm's future and may give some indication about a possible public offering in the company.
Anil Ambani has told reporters that listing of Infocomm shall be considered in due course.
With an employee strength of over 40,000 and a revenue of over Rs 5,000 crore, Infocomm is still considered a money guzzler and require more investment to accomplish its target.
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