Four REL directors withdraw resignations
Our Corporate Bureau
20 January 2005
The directors — executive vice chairman Satish Sheth, business development director J P Chalasani, operations director S C Gupta and finance director K H Mankad — who withdrew their resignation and reaffirmed full faith and confidence in the leadership of REL chairman Anil Ambani, the company said in a release in Mumbai.
The board of Reliance Industries Limited has now reaffirmed confidence in the REL board and a communication for its nominees to continue on REL board has been sent, the release added. The six directors had tendered their resignation during the last meeting held in November 2004.
However, REL has accepted the resignations of two of its other directors — Amitabh Jhunjhunwala and Prof J Ramachandran. The two were among six directors who had resigned from the REL board on November 25, in the wake of the ownership dispute in the Reliance group.