Financial Daily from THE HINDU group of publications
Tuesday, Dec 28, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 28, 2004 |
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Corporate
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Corporate Disputes A marathon meet, another media day out Our Bureau
Mumbai , Dec. 27 THE stakeout of the Reliance board meeting, from outside its corporate office at the Maker Towers IV at Nariman Point, was yet another day out for the Mumbai media. What promised to be a long day, sure enough threw up long hours, beginning at around nine in the morning and lasting till three in the afternoon. The fireworks came fairly early in the day with Mr Anil Ambani raising questions about the buyback, with suggestions that there was more than what met the eye. However, that proved to be the high point for the media as the rest of the day kind of meandered on. The next break came by noon when it was "leaked out' that the buyback price was fixed at a maximum of Rs 570. Then came out the amount - Rs 2,999 crore - for the buyback, followed by an official release, saying that Mr Anil Ambani had abstained from the voting on fixing the price. One came to understand that the meeting was well and truly over by 1.15 p.m. or so when Mr Ambani left the venue, a good half hour ahead of other directors who followed. One came to know soon enough that the Reliance Vice-Chairman and Managing Director did not waste any time for lunch or niceties with other directors once the official meeting got over. Sure enough, there was a near stampede when the waiting media realised that it was Mr Anil who was removing his jacket and getting into a Landrover. Expectations of another round of dramatic announcements were belied as he refused to talk and left behind scores of miffed newspersons. The jostling reporters, photographers and camera crew drew quite a bit of attention from passers-by, ranging from pitying looks to the bemused. The bored journalists got some relief on occasions when they were mistaken, once for a film crew - "Which movie is being shot, who all are starring?" - and then for wannabe army recruits - "Is there a recruitment for army going on?" As one wound up for the day, there was some salve for the bruised ego with proof that there were others who got off no better. A cop on duty outside Maker IV chided the media for making such a fuss about "doing duty for a few hours. You think you have problems? I have been posted here since early morning and may have to continue standing here till evening."
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