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Business News/ Companies / News/  Mukesh Ambani for Prime Minister, say RIL shareholders
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Mukesh Ambani for Prime Minister, say RIL shareholders

One shareholder wanted Ambani to dance, yet others wanted his wife, Nita Ambani, to join the board

Reliance Industries chairman Mukesh Ambani. Photo: S. Kumar/ Mint (S. Kumar/ Mint)Premium
Reliance Industries chairman Mukesh Ambani. Photo: S. Kumar/ Mint
(S. Kumar/ Mint)

Mumbai: The 39th annual general meeting (AGM) of Reliance Industries Ltd (RIL) in Mumbai on Thursday had many serious items on the agenda. Chairman Mukesh Ambani pledged to invest 1.5 trillion over the next three years across all the company’s businesses. Ambani was upbeat about prospects not just for his company, but also for the economy in general.

However, the AGM, like previous ones, had its share of off-the-agenda moments, contributed entirely by the hundreds of shareholders present at the event. Shareholders, especially the silver-haired ones, shared their views on Ambani, the company and life in general during the meeting. Some wanted Ambani to become the next prime minister. Others wanted him to dance. Yet, others wanted his wife, Nita Ambani, to join the board. Brandishing their reports, they reiterated their faith in the company, gave Ambani some constructive criticism, and provided welcome doses of levity and entertainment to an otherwise routine event. Here is a compilation of some of the comments made by various shareholders:

—Sir, I understand that you got Z security, which is a very good thing, but we also want security. We want ABCD security: A for Appreciation, B for Bonus, C for Cash and D for Dividend. Do not thank me for all the praises, but just give me this security so that Any Body Can Dance for you (ABCD is the name of a recent Hindi dance movie).

—You are the Kohinoor of India, sir.

—Sir, you manage the finances of the company so well, why don’t you manage the country?

—Sir, you not only deserve Z security, but you deserve A-Z security.

—Sone ke tukde lakh kar do, bhav kum nahi hoti, share price kitna bhi gire, Reliance ki thaat kum nahi hoti (Reliance will shine despite the fall in its share price like the value of gold doesn’t diminish).

—Sir, I remember your father, the great Dhirubhai Ambani so well. I remember how he said “kar lo duniya mutthi mein (seize the day)". Only I don’t remember when he said that whether he used the right hand or the left hand, but he was a great man.

—I’m very happy with the performance of the company. But I really want to know from you yourself about the share price of the company. I’ll tell you why. Because I recommended Reliance shares to my friends, who bought the stock at 3,000. I know you were kind and gave a bonus, but the share price fell down. You gave a buy-back also, but you know what happened after that. Please comment on the share price.

—The Indian rupee has become 56, and look at your dividend of 9.

—Sir, the 9 dividend that you have given is obviously inadequate. Also, let me tell you that we have been sitting here since morning and please give us some nastha (snacks) the next time. At least give us vada pav.

—I don’t have any problem with the company except one. Look at this picture (pointing to Dhirubhai Ambani’s picture) and look at the garland on the great man’s photo (the picture had a garland made of white and yellow flowers). I request you to have a garland of roses for the great man.

—Women have come of age, it would be nice if you could induct one on the board of your company, sir.

—I wish to congratulate Nita Bhabhi on the success of Mumbai Indians, sir.

—Opening the annual report, Sir, I’m thankful to your company secretary for bringing out a nice and colourful report. (Pointing at some pictures in the report). I’m waiting for Nita Bhabhi’s picture here.

—Today, the entire mankind is dependent on Reliance, sir.

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ABOUT THE AUTHOR
Pallavi Pengonda
Pallavi is a deputy editor at Mint and heads the Mark to Market team. This column covers wide-ranging topics related to the stock markets, offering an in-depth analysis of financial reports of companies. She writes and edits across verticals, covering the breadth of the Indian stock market. Pallavi has done her master of management studies, specializing in finance.
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Published: 06 Jun 2013, 06:31 PM IST
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