Reliance Industries Limited (RIL) strongly denies that there is any plan, or any talks with ADAG for acquiring RNRL. A press release by Reliance Industries Limited firmly disproves media reports “Ambani brothers may bury the hatchet on RNRL dispute”.

According to the press release, such one-sided reports misguide small investors who are lured to buy shares in RNRL, which benefits operators and vested interest. As a responsible company RIL will always safeguard the interest of its shareholders.

It is unfortunate that a section of media has allowed itself to be used to give sanctity to rumours and canards that are being spread.

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Reliance Industries Limited

Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with turnover of Rs1,18,354 crore (US$ 27.23 billion), cash profit of Rs17,678 crore (US$ 4.07 billion), net profit of Rs11,943 crore (US$ 2.75 billion) and net worth of Rs63, 967 crore (US$ 14.72 billion) as of March 31, 2007.

RIL is the first and only private sector company from India to feature in the Fortune Global 500 list of ‘World’s Largest Corporations’ and ranks amongst the world’s Top 200 companies in terms of profits. RIL is amongst the 25 fastest climbers ranked by Fortune. RIL also features in the Forbes Global list of world’s 400 best big companies and in FT Global 500 list of world’s largest companies.