Directors' claim and Mukesh's action breach of trust: ADAG
Are the directors of the
Reliance
Industries playing in the hands of Mukesh Ambani? This apprehension is natural because the
directors claimed to have not known the matter of MOU signed by their chairman Mukesh Ambani, which was the basis of the de-merger of the
Reliance Empire.
The RIL is employing all tricks to make the MOU invalid to save itself from supplying KG-D6 basin gas to RNRL at a price agreed in the MOU. If the directors’ claim is true, then they did not know anything about the division of Reliance empire between the two Ambani brothers, isn’t it?
As said by the Anil’s RNRL Group that the action of their chairman Mukesh ambani on the MOU is breach of criminal trust and fiduciary duties should be right. The directors have put themselves in a dilemma since they are being the part of the corporate governance that worked out the detail of the de-merger, cannot deny their knowledge on this subject matter. RNRL has filed another affidavit on Saturday in which they mention about all the intricacies of corporate governance to implicate the directors.
With this claim of the directors, both Mukesh Aabani and the directors would be
in the basket of breach of fiduciary duties and criminal breach of trust, said RNRL in its rejoinder to the recent affidavits.