Mr. Mukesh D Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL), called on Mr. M L Bhakta, one of the senior most Directors of the Company today afternoon. Mr. Bhakta, who has been on the Board of Reliance Industries Limited since 1977, had in a letter addressed to the Chairman yesterday expressed his desire to resign as a Director of the Company on the grounds of age.

Dhirubhai Ambani Knowledge City, Navi Mumbai, India, November 24, 2004 (Xtvworld) -- During the meeting, Mr. Ambani recalled Mr. Bhakta’s association with the Company since its first IPO, the invaluable services rendered by him to Reliance Industries Limited as a valued colleague of the Founder Chairman of the Company, Mr. Dhirubhai Ambani, and as a guide and mentor of  the present leadership of the Company thereafter. Requesting Mr. Bhakta to reconsider his resignation, Mr. Mukesh D Ambani said: “I cannot  even imagine accepting it.”

After a warm and affectionate exchange of views, Mr. Bhakta has agreed to reconsider his resignation.