Ambani Brothers Cancel Non-Compete Agreements

Reliance Industries (RIL), which is led by Mukesh Ambani, and Reliance Anil Dhirubhai Ambani Group (Reliance ADA Group), which is led by Mukesh’s brother Anil Ambani, say they have approved and signed an agreement canceling all existing non-compete arrangements entered into between the two groups in January 2006 following the reorganization of the Reliance group. They have now entered into a new simpler, non-compete agreement with respect to only gas based power generation. “The cancellation of the existing non-compete agreement will provide enhanced...

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