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Sibling rivalry squelching Ambani empire (29-07-2008)

Feuds among siblings is not a new concept in the Indian scenario. If you go through the widely acclaimed epic Mahabharata, you will find enough instances of it and that ultimately became the greatest decisive factor for the destruction of the omnipotent Kuru dynasty. There were mutual hatreds, animosities, flagitious conspiracies and even esteem! This story has been going on through centuries and have admonished millions of its grievous implications. But there are many who don’t even bother to lend ears to these and bay for each other’s blood. The Ambani siblings, Mukesh and Anil, happen to be the perfect example of this notion.

The animus between the two forced their mother to bifurcate the Reliance empire, after the sad demise of Dhirubhai Ambani, who hoped that it would settle the bitter issues forever. Alas! Little did she know that it would contaminate the relation more and circuitously the nation had to pay the price. From the very beginning in both groups, viz. Reliance Industries (RIL) of Mukesh and Reliance Anil Dhirubhai Ambani Group (RADAG) of Anil, all flavors of incessant enmities were present. This got heighetend in the subsequent years which also witnessed the growth of the market capitalisation of $22.5 billion of Reliance in 2005 to the combined valuation of over $170 billion of the two groups.

The combined and awed strength of the combination would have earned much more laurels in the international spectrum but the appearance of MTN in the scene changed the state of affairs and what started was nothing except brazenness.

Certainly we have heard of the family feuds of the Birlas, Tatas and even of Hindujas but none did ever come out to the streets like the Ambanis. There is hardly any doubt that Mukesh Ambani was instumental in the abrogation of the prospective deal bewteen MTN and RCOM of Anil but most importantly it affected the nation. Alternatively we would have got a glimpse of the formation of a mobile giant along with newer investements and a surge in the job market. The other frictions have only profaned the situiation.

The situation is at the bottom and with the worsening condition of national politics the two warring camarillas are more at loggerheads. If any comforter wants to reinstate the two, he would better ask the Ganges to commute its course! However it’s ceratinly affecting India.

Source:

http://www.economist.com/displayStory.cfm?story_id=11793156&CFID=15082798&CFTOKEN=40794331

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