Anil Ambani’s Sons Quit Reliance Infra Board In Less Than Six Months

In an unexplained move, Reliance Group chairman Anil Ambani’s sons have resigned from Reliance Infrastructure’s board. The resignation comes in less than six months from the appointment made in October last year.

In a statement sent to Bombay Stock Exchange (BSE) on Saturday, RInfra said Jai Anmol Ambani and Jai Anshul Ambani have resigned from its board. The statement mentioned the date of cessation as 31st January, and did not share reasons for resignation. The company did not share any details on any new role that the two brothers will assume.

The Ambani brothers joined the board in October 2019. At the time of appointment, Ambani’s eldest son Anmol, 27, already held an executive director’s position at Reliance Capital. The younger brother Anshul, 24, joined Reliance Group in January 2019. “Anmol has been overseeing the financial services businesses since he joined its Board in August 2016. He has contributed to the culture of the organization, driving agility, innovation and digitization,” a statement released in October said. Anshul, according to the older release, has been actively involved in all operations of Reliance Infrastructure, including a special focus on the defence business.

This is not the first time there has been an unusual resignation seen at the Reliance Group. In August 2018, Anil Ambani stepped down as director for Reliance Naval and Engineering. The company in its filing in August 2018 clarified, “Anil Ambani has resigned as director of the company with effect from August 25, 2018, in compliance with provisions of Section 165 of the Companies Act, 2013, prescribing the limit on directorships to only 10 public companies.”―Business Standard