News: Anil Ambani quits as Rajya Sabha MP

(BL 26/03/2006) Mumbai - Anil Ambani, Chairman of the Reliance ADA Group of companies, has resigned as Member of Parliament from the Rajya Sabha on Saturday.

Ambani was elected to the Upper House from Uttar Pradesh in June 2004.

Prior to that, in October 2003, Ambani had joined the Uttar Pradesh Development Council, an advisory role which he still continues to perform. A press release issued here today by Reliance ADA said, "There has been no suggestion that there is any issue in his continuing to be a member of the UPDC after being elected to the Rajya Sabha."

Ambani has been quoted in the release as saying, "It is my firm view that, in public life, one must uphold the highest standards of transparency, propriety and ethics and avoid any possibility of controversy, however remote or unlikely. Keeping this in mind, I have decided to tender my resignation from the Rajya Sabha with immediate effect."

It may be recalled that when the fight between the Ambani brothers broke out in 2004-end, sources in the Mukesh Ambani camp had cited among other reasons, Anil Ambani becoming an advisor on the Board of UPDC.