Bhakta to reconsider resignation from Reliance board

Mumbai: The chairman of Reliance Industries, Mukesh Ambani, has persuaded senior director on the board of the company, M L Bhakta, to reconsider his resignation of Tuesday, according to a press release issued by Reliance.

"I cannot even imagine accepting it," said Ambani, quoted in the news release.

Bhakta, in a letter written to the Ambani on Tuesday, had expressed his desire to resign on grounds of age the press release stated. However, the timing of the announcement of Bhakta's resignation had only complicated the situation, said Reliance sources.

Ambani, calling on Bhakta this afternoon, recalled his role as "a valued colleague of the founder chairman of the company, Dhirubhai Ambani, and as a guide and mentor of the present leadership of the company, thereafter."