There has been no shortage of excitement in the very public battle between the two Ambani brothers over the distribution of natural gas from the Krishna-Godavari basin.
The battle was till recently played out either through discreet lobbying and media briefings or in the courts. But the war has escalated over the past week. First, Anil Ambani launched an open attack on Reliance Industries Ltd and petroleum minister Murli Deora when he addressed shareholders of Reliance Natural Resources Ltd last week. Deora reiterated the government’s position on the gas dispute in Parliament on Monday, though he said little that was not already known. Mukesh Ambani is yet to make a public statement on a matter that is still being heard in the courts.
But there is another group that has been silent through these months—the boards of the two Ambani companies. The directors who sit on these boards are supposed to represent the interests of shareholders, which will be affected by the gas dispute. It is time the boards spoke up.