Dhirajlal Hirachand Ambani (28 December 1932, - 6 July 2002), (also known as Dhirubhai Gujarati: ધીરૂભાઈ અંબાણી) was an Indian rags-to-riches business tycoon who founded Reliance Industries in Mumbai with his cousin. Events 1065 - Westminster Abbey is Consecrated. 1308 - The reign of Emperor Hanazono, Emperor of Year 1932 ( MCMXXXII) was a Leap year starting on Friday of the Gregorian calendar. See Junagarh for disambiguation Junagadh is a city and a Municipal corporation, the headquarters of Junagadh district Gujarat (ગુજરાત Gujǎrāt, pronounced) is a state in western India. For usage see British rule in India British Raj ( rāj, lit "reign" in Hindustani) primarily refers to the British Events 1044 - The Battle of Ménfő takes place 1189 - Richard the Lionheart is crowned King of England See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial Maharashtra ( Marathi: mahārāṣṭra, IPA) is a state located on the western coast of India. India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country A business magnate, sometimes referred to as a mogul, tycoon, baron, or industrialist, is a person who has reached a prominent place in Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian Businessman and the world's fifth Richest man, with a net worth of approximately Anil Ambani (born June 4, 1959) is an Indian businessman As of October 6th 2007 he has a net-worth of US$42 billion making him the 6th richest person in Events 1065 - Westminster Abbey is Consecrated. 1308 - The reign of Emperor Hanazono, Emperor of Year 1932 ( MCMXXXII) was a Leap year starting on Friday of the Gregorian calendar. Events 1044 - The Battle of Ménfő takes place 1189 - Richard the Lionheart is crowned King of England See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. Gujarati (ગુજરાતી Gujǎrātī ? India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country Reliance Industries Limited ( NSE: RELIANCE is India 's largest Private sector conglomerate (and second largest overall with an annual Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial Many people consider Ambani's phenomenal rise to be an example of crony capitalism and the result of proximity to the ruling politicians because it was achieved through preferential treatment given to him in a highly repressive business environment (the License Raj stifled Indian business until the early 1990s and only those favored by the politicians were granted licenses leaving them with no competition). Ambani took his company (Reliance) public in 1977, and by 2007 the combined fortune of the family (sons Anil & Mukesh) was 100 billion dollars, making the Ambanis one of the richest families in the world.

Early life

Dhirubhai Ambani (Dhirajlal Hirachand Ambani) was born on 28 December 1932, at Chorwad, Junagadh (now the state of Gujarat, India) to Hirachand Gordhanbhai Ambani and Jamnaben^[1] in an Anavil Brahmin family of very moderate means. Events 1065 - Westminster Abbey is Consecrated. 1308 - The reign of Emperor Hanazono, Emperor of Year 1932 ( MCMXXXII) was a Leap year starting on Friday of the Gregorian calendar. See Junagarh for disambiguation Junagadh is a city and a Municipal corporation, the headquarters of Junagadh district Gujarat (ગુજરાત Gujǎrāt, pronounced) is a state in western India. India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country Anavil Brahmin is one of the sub-castes of Brahmin Caste. Anavil Brahmins are from and the majority of them are still located in the area including Although he was born in Gujarat, he is of Sindhi descent, which is a socio-ethnic group that belonged to Sindh, a former area of Northwest India that now belongs to Pakistan after the Partition. Sindh ( Sindhī: سنڌ Urdu: سندھ is one of the four provinces of Pakistan and historically is home to the Sindhis. ^[2] He was the second son of a school teacher. Dhirubhai Ambani is said to have started his entrepreneurial career by selling "pakora" to pilgrims in Mount Girnar over the weekends. Pakora ( Hindi: पकोड़ा Urdu: پکوڑا) is a fried snack found across the Indian subcontinent. Girnar (also known as "Girnar Hill" is a collection of mountains in the Junagadh District of Gujarat, India. ^[3] When he was 16 years old, he moved to Aden, Yemen. Aden (ˈeɪdən Arabic: عدن) is a city in Yemen, 170 kilometers east of Bab-el-Mandeb. Yemen ( Arabic: اليَمَن al-Yaman officially the Republic of Yemen ( Arabic: الجمهورية اليمنية al-Jumhuuriyya He worked with A. Besse & Co. for a salary of Rs. 300. Two years later, A. Besse & Co. became the distributors for Shell products, and Dhirubhai was promoted to manage the company’s filling station at the port of Aden. Aden (ˈeɪdən Arabic: عدن) is a city in Yemen, 170 kilometers east of Bab-el-Mandeb.

He was married to Kokilaben and had two sons, Mukesh Ambani and Anil Ambani and two daughters, Nina Kothari and Deepti Salgaocar. Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian Businessman and the world's fifth Richest man, with a net worth of approximately Anil Ambani (born June 4, 1959) is an Indian businessman As of October 6th 2007 he has a net-worth of US$42 billion making him the 6th richest person in

Reliance Commercial Corporation

In 1962, Dhirubhai returned to India and started the Reliance Commercial Corporation with a capital of Rs. 15,000. 00. The primary business of Reliance Commercial Corporation was to import polyester yarn and export spices.

The business was setup in partnership with Champaklal Damani, his second cousin, who used to be with him in Aden, Yemen. Aden (ˈeɪdən Arabic: عدن) is a city in Yemen, 170 kilometers east of Bab-el-Mandeb. Yemen ( Arabic: اليَمَن al-Yaman officially the Republic of Yemen ( Arabic: الجمهورية اليمنية al-Jumhuuriyya The first office of the Reliance Commercial Corporation was set up at the Narsinathan Street in Masjid Bunder. Masjid (sometimes called Masjid Bunder) is a railway station on the Central line of the Mumbai Suburban Railway. It was a 350 Sq. Ft. room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business. In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Dhirubhai started on his own. It is believed that both had different temperaments and a different take on how to conduct business. In psychology temperament is the innate aspect of an individual's personality such as Introversion or Extroversion. While Mr. Damani was a cautious trader and did not believe in building yarn inventories, Dhirubhai was a known risk taker and he considered that building inventories, anticipating a price rise, and making profits thnd Estate in Bhuleshwar, Mumbai^[4]. Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial In 1968, he moved to an upmarket apartment at Altamount Road in South Mumbai. South Mumbai ( Marathi:दक्षिण मुंबई the southern-most precinct of the city of Mumbai, India, comprises the city's main business localities Ambani's net worth was estimated at about Rs. 1 million by late 1960s.

Reliance Textiles

Sensing a good opportunity in the textile business, Dhirubhai started his first textile mill at Naroda, in Ahmedabad in the year 1966. Naroda is a Suburban town in the northeast of Ahmedabad. It was incorporated in Ahmedabad in approximately 1996 Ahmedabad (અમદાવાદ Amdāvād, Hindi: अहमदाबाद) is the largest city in Year 1966 ( MCMLXVI) was a Common year starting on Saturday (link will display full calendar of the 1966 Gregorian calendar. Textiles were manufactured using polyester fibre yarn. ^[5] Dhirubhai started the brand "Vimal", which was named after his elder brother Ramaniklal Ambani's son, Vimal Ambani. Extensive marketing of the brand "Vimal" in the interiors of India made it a household name. India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country Franchise retail outlets were started and they used to sell "only Vimal" brand of textiles. In the year 1975, a Technical team from the World Bank visited the Reliance Textiles' Manufacturing unit. The World Bank is an internationally supported Bank that provides financial and technical assistance to developing countries for development programs (e This unit has the rare distinction of being certified as "excellent even by developed country standards" during that period. ^[6]

Initial public offering

Logo of Reliance Industries Limited

Dhirubhai Ambani is credited with starting the equity cult in India. Reliance Industries Limited ( NSE: RELIANCE is India 's largest Private sector conglomerate (and second largest overall with an annual More than 58,000 investors from various parts of India subscribed to Reliance's IPO in 1977. Initial public offering (IPO, also referred to simply as a "public offering" is when a company issues Common stock or shares to the public for the first Dhirubhai was able to convince people of rural Gujarat that being shareholders of his company will only bring returns to their investment. Gujarat (ગુજરાત Gujǎrāt, pronounced) is a state in western India.

Reliance Industries holds the distinction that it is the only Private Sector Company whose several Annual General Meetings were held in stadiums. Reliance Industries Limited ( NSE: RELIANCE is India 's largest Private sector conglomerate (and second largest overall with an annual A modern stadium (plural stadiums or stadia in English is a place or venue for (mostly outdoor Sports Concerts or other events consisting In 1986, The Annual General Meeting of Reliance Industries was held in Cross Maidan, Mumbai and was attended by more than 35,000 shareholders and the Reliance family. Cross Maidan is a vast expanse of land in South Mumbai. The term maidan means "playing ground" in Hindi.

Dhirubhai managed to convince a large number of first-time retail investors to participate in the unfolding Reliance story and put their hard-earned money in the Reliance Textile IPO, promising them, in exchange for their trust, substantial returns on their investments.

Ambani's net worth was estimated at about Rs. 1 billion by early 1980s.

Dhirubhai's control over stock exchanges

In 1982, Reliance Industries came up against a rights issue regarding partly convertible debentures. ^[7] It was rumored that company was making all efforts to ensure that their stock prices did not slide an inch. Reliance Industries Limited ( NSE: RELIANCE is India 's largest Private sector conglomerate (and second largest overall with an annual Sensing an opportunity, a bear cartel which was a group of stock brokers from Calcutta started to short sell the shares of Reliance. In Finance, short selling or "shorting" is the practice of selling a Financial instrument that the seller borrows first (does not own and then To counter this, a group of stock brokers till recently referred to as "Friends of Reliance" started to buy the short sold shares of Reliance Industries on the Bombay Stock Exchange. The Bombay Stock Exchange Limited (मुंबई शेयर बाज़ार Mumbaī Śeyar Bājār) (formerly The Stock Exchange Mumbai; popularly called

The Bear Cartel was acting on the belief that the Bulls would be short of cash to complete the transactions and would be ready for settlement under the "Badla" trading system prevalent in Bombay Stock Exchange during those days. In Investing, Financial markets are commonly believed to have market trends that can be classified as primary trends secondary trends (short-term and secular trends The Bombay Stock Exchange Limited (मुंबई शेयर बाज़ार Mumbaī Śeyar Bājār) (formerly The Stock Exchange Mumbai; popularly called The bulls kept on buying and a price of Rs. 152 per share was maintained till the day of settlement. On the day of settlement, the Bear Cartel was taken aback when the Bulls demanded a physical delivery of shares. To complete the transaction, the much needed cash was provided to the stock brokers who had bought shares of Reliance, by none other than Dhirubhai Ambani. In the case of non-settlement, the Bulls demanded an "Unbadla" (a penalty sum) of Rs. 35 per share. The rupee (रुपया ( code: INR) is the Currency of India. With this, the demand increased and the shares of Reliance shot above 180 rupees in minutes. The settlement caused an enormous uproar in the market and Dhirubhai Ambani was the unquestioned king of the stock markets. He proved to his detractors just how dangerous it was to play with Reliance.

The situation was getting completely out of control. To find a solution to this situation, the Bombay Stock Exchange was closed for three business days. Authorities from the Bombay Stock Exchange intervened in the matter and brought down the "Unbadla" rate to Rs. The Bombay Stock Exchange Limited (मुंबई शेयर बाज़ार Mumbaī Śeyar Bājār) (formerly The Stock Exchange Mumbai; popularly called 2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days. The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure. ^[8]

After this incident, many questions were raised by his detractors and the press. Not many people were able to understand as to how a yarn trader till a few years ago was able to get in such a huge amount of cash flow during a crisis period. The answer to this was provided by the then finance minister, Pranab Mukherjee in the parliament. Pranab Kumar Mukherjee (প্রনব কুমার মুখার্জী born December 11, 1935, He informed the house that a Non-Resident Indian had invested up to Rs. 220 Million in Reliance during 1982-83. The rupee (रुपया ( code: INR) is the Currency of India. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man. The Isle of Man (Ellan Vannin ˈɛlʲən ˈvanɪn or Mann (Mannin) is a self-governing Crown dependency, located in the Irish Sea at the geographical The interesting factor was that all the promoters or owners of these companies had a common surname Shah. Shah is an Iranian term for a Monarch (leader that has been adopted in many other languages An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters. The Reserve Bank of India (RBI भारतीय रिज़र्व बैंक is the Central bank of India, and was established on April ^[9]

Diversification

Over time, Dhirubhai diversified his business with the core specialisation being in petrochemicals and additional interests in telecommunications, information technology, energy, power, retail, textiles, infrastructure services, capital markets, and logistics. Petrochemicals are chemical products made from raw materials of Petroleum or other Hydrocarbon origin Information technology ( IT) as defined by the Information Technology Association of America (ITAA is "the study design development implementation support In Physics and other Sciences energy (from the Greek grc ἐνέργεια - Energeia, "activity operation" from grc ἐνεργός Electric power is defined as the rate at which Electrical energy is transferred by an Electric circuit. A textile is a flexible material comprised of a network of natural or artificial Fibres often referred to as thread or Yarn. Infrastructure typically refers to the technical structures that support a society such as Roads Water supply, Wastewater, Power grids The capital market is the Market for securities, where companies and Governments can raise longterm funds Logistics is the management of the flow of Goods, Information and other resources including Energy and people between the point of origin and the point The company as a whole was described by the BBC^[10] as "a business empire with an estimated annual turnover of $12bn, and an 85,000-strong workforce".

Criticism

Paperback Cover page of The Polyester Prince. The rise of Dhirubhai Ambani. Author: Hamish McDonald, Publisher: Allen & Unwin Pty. , Limited (Australia), ISBN 1-86448-468-3

Despite his almost Midas Touch, Ambani has been known to have flexible values and an unethical streak running through him. His biographer himself has cited some instances of his unethical behavior when he was just an ordinary employee at a petrol pump in Dubai. He has been accused of having manipulated government policies to suit his own needs, and has been known to be a king-maker in government elections ^[11]. Although most media sources tend to speak out about business-politics nexus, the Ambani house has always enjoyed more protection and shelter from the media storms that sweep across the country.

Tussle with Nusli Wadia

Nusli Wadia of Bombay Dyeing was, at one point in time, the biggest competitor of Dhirubhai and Reliance Industries. Nusli Wadia is an Indian Parsi entrepreneur and an important figure in the Indian textile industry and real-estate business Bombay Dyeing (full name The Bombay Dyeing & Mfg Co Ltd established 1879) is the Flagship company of the Wadia Group, engaged mainly into the business Both Nusli Wadia and Dhirubhai were known for their influence in the political circles and their ability to get the most difficult licenses approved during the times of pre-liberalized economy.

During the Janata Party rule between 1977 - 1979, Nusli Wadia obtained the permission to build a 60,000 tonnes per annum Di-methyl terephthalate (DMT) plant. The Janata Party (जनता पार्टी People's Party in Hindi) was an Indian Political party that contested the Indian Emergency Also 1977 (album by Ash. Year 1977 ( MCMLXXVII) was a Common year starting on Saturday (link displays Year 1979 ( MCMLXXIX) was a Common year starting on Monday (link displays the 1979 Gregorian calendar) Before the letter of intent was converted into a licence, many hurdles came in the way. Finally, in 1981, Nusli Wadia was granted the license for the plant. This incident acted as a catalyst between the two parties and the competition took an ugly turn.

The Indian Express Articles

At one point in time, Ramnath Goenka was a friend of Dhirubhai Ambani. Ramnath Goenka ( रामनाथ गोयंका)( April 3, 1904 &ndash October 5, 1991) was a newspaper baron of India Ramnath Goenka was also considered to be close to Nusli Wadia. On many occasions, Ramnath Goenka tried to intervene between the two warring factions and bring an end to the enmity. Goenka and Ambani became rivals mainly because Ambani's corrupt business practices and his illegal actions that led to Goenka not getting a fair share in the company. Later on, Ramnath Goenka chose to support Nusli Wadia. At one point of time, Ramnath Goenka is believed to have said "Nusli is an Englishman. He cannot handle Ambani. I am a bania. I know how to finish him". . . .

Ramnath Goenka, the patriarch of The Indian Express Group. Ramnath Goenka ( रामनाथ गोयंका)( April 3, 1904 &ndash October 5, 1991) was a newspaper baron of India This file photograph of Mr. Goenka was taken in his penthouse at the Express Towers, Nariman Point, Bombay

As days passed by, The Indian Express, a broadsheet daily published by him, carried a series of articles against Reliance Industries and Dhirubhai in which they claimed that Dhirubhai was using unfair trade practices to maximise the profits. Nariman Point (नरिमन पॉईंट is Mumbai 's premier business district Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial Broadsheet is the largest of the various Newspaper formats and is characterized by long vertical pages (typically 22 inches or more Reliance Industries Limited ( NSE: RELIANCE is India 's largest Private sector conglomerate (and second largest overall with an annual Ramnath Goenka did not use his staff at the Indian Express to investigate the case but assigned his close confidante, advisor and chartered accountant S. Gurumurthy for this task. S Gurumurthy ( सगुरूमूरति) is the convenor of the स्वदेशी जागरण मंच (Swadeshi Jagaran Manch, which has affiliation to Apart from S. Gurumurthy, another journalist Maneck Davar who was not on the rolls of Indian Express started contributing stories. Jamnadas Moorjani, a businessman opposed to the Ambanis was also a part of this campaign.

Both Ambani and Goenka were equally criticized and admired by sections of the society. People criticized Goenka that he was using a national newspaper for the cause of a personal enmity. Critics believed that there were many other businessman in the country who were using more unfair and unethical practices but Goenka chose to target only Ambani and not the others. Critics also admired Goenka for his ability to run these articles without any help from his regular staff. Dhirubhai Ambani was also getting more recognition and admiration, in the meantime. A section of the public started to appreciate Dhirubhai's business sense and his ability to tame the system according to his wishes.

The end to this tussle came only after Dhirubhai Ambani suffered a stroke. While Dhirubhai Ambani was recovering in San Diego, his sons Mukesh Ambani and Anil Ambani managed the affairs. Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian Businessman and the world's fifth Richest man, with a net worth of approximately Anil Ambani (born June 4, 1959) is an Indian businessman As of October 6th 2007 he has a net-worth of US$42 billion making him the 6th richest person in The Indian Express had turned the guns against Reliance and was directly blaming the government for not doing enough to penalize Reliance Industries. The battle between Wadia - Goenka and the Ambanis took a new direction and became a national crisis. Gurumurthy and another journalist, Mulgaokar consorted with President Giani Zail Singh and ghost-wrote a hostile letter to the Prime Minister on his behalf.  Giani Zail Singh (ਜ਼ੈਲ ਸਿੰਘ May 5 1916 – December 25 1994) was an Indian politician and member of the The Indian Express published a draft of the President’s letter as a scoop, not realizing that Zail Singh had made changes to the letter before sending it to Rajiv Gandhi. Rajiv Gandhi राजीव गांधी (raːdʒiːv gaːnd̪ʰiː born in Bombay, (20 August 1944 – 21 May 1991 the elder son of Indira and Feroze Ambani had won the battle at this point. Now, while the tussle was directly between the Prime Minister Rajiv Gandhi and Ramnath Goenka, Ambani made a quiet exit. Rajiv Gandhi राजीव गांधी (raːdʒiːv gaːnd̪ʰiː born in Bombay, (20 August 1944 – 21 May 1991 the elder son of Indira and Feroze Ramnath Goenka ( रामनाथ गोयंका)( April 3, 1904 &ndash October 5, 1991) was a newspaper baron of India The government then raided the Express guest house in Delhi’s Sunder Nagar and found the original draft with corrections in Mulgaokar’s handwriting. By 1988-89, Rajiv’s government retaliated with a series of prosecutions against the Indian Express. Even then, Goenka retained his iconic stature because, to many people, he seemed to be replaying his heroic defiance during the Emergency regime.

Dhirubhai and V. P. Singh

It was widely known that Dhirubhai didn't enjoy a cordial relation with Vishwanath Pratap Singh, who succeeded Rajiv Gandhi as the Prime Minister of India. Vishwanath Pratap Singh (विश्वनाथ प्रताप सिंह born 25 June 1931) was the 10th Prime Minister of the In May 1985, he suddenly removed the import of Purified Terephthalic Acid from the Open General License category. Year 1985 ( MCMLXXXV) was a Common year starting on Tuesday (link displays 1985 Gregorian calendar) Terephthalic acid is one Isomer of the three Phthalic acids. It finds important use as a Commodity chemical, principally as a starting compound As a raw material this was very important to manufacture polyester filament yarn. This made it very difficult for Reliance to carry on operations. Reliance was able to secure, from various financial institutions, letters of credit that would allow it to import almost one full year’s requirement of PTA on the eve of the issuance of the government notification, changing the category under which PTA could be imported. In 1990, the government-owned financial institutions like the Life Insurance Corporation of India and the General Insurance Corporation stonewalled attempts by the Reliance group to acquire managerial control over Larsen & Toubro. Year 1990 ( MCMXC) was a Common year starting on Monday (link displays the 1990 Gregorian calendar) The Life Insurance Corporation of India (LIC is the largest Life insurance company in India and also the country's largest investor Larsen and Toubro is an Indian conglomerate, with diverse interests such as Construction, Hydraulic equipment, electrical and electronic Sensing defeat, the Ambanis resigned from the board of the company. Dhirubhai, who had become L&T's chairman in April 1989, had to quit his post to make way for D. April holidays and events National Poetry Month - in United States National Sexual Assault Awareness Month - in United Year 1989 ( MCMLXXXIX) was a Common year starting on Sunday (link displays 1989 Gregorian calendar) N. Ghosh, former chairman of the State Bank of India. State Bank of India (SBI ( is the largest Bank in India. It is also measured by the number of branch offices and employees the second largest bank in the

Death

Final Journey: Dhirubhai Ambani's funeral saw thousands of people attending. Mukesh Ambani and Anil Ambani can be seen carrying their father's body as per Hindu traditions

Dhirubhai Ambani was admitted to the Breach Candy Hospital in Mumbai on June 24, 2002 after he suffered a major stroke. Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian Businessman and the world's fifth Richest man, with a net worth of approximately Anil Ambani (born June 4, 1959) is an Indian businessman As of October 6th 2007 he has a net-worth of US$42 billion making him the 6th richest person in A Hindu ( Devanagari: हिन्दू is an adherent of the philosophies and scriptures of Hinduism, a set of religious, Philosophical Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial Events 972 - Battle of Cedynia, the first documented victory of Polish forces takes place See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. This was his second stroke, the first one had occurred in February 1986 and had kept his right hand paralyzed. He was in a state of coma for more than a week. A battery of doctors were unable to save his life. He breathed his last on July 6, 2002, at around 11:50 P. Events 1044 - The Battle of Ménfő takes place 1189 - Richard the Lionheart is crowned King of England See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. M. (Indian Standard Time).

His funeral procession was not only attended by business people, politicians and celebrities but also by thousands of ordinary people. His elder son, Mukesh Ambani, performed the last rites as per Hindu traditions. Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian Businessman and the world's fifth Richest man, with a net worth of approximately A Hindu ( Devanagari: हिन्दू is an adherent of the philosophies and scriptures of Hinduism, a set of religious, Philosophical He was cremated at the Chandanwadi Crematorium in Mumbai at around 4:30 PM (Indian Standard Time) on July 7, 2002. Events 1456 - A retrial verdict acquits Joan of Arc of heresy 25 years after her death See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar.

He is survived by Kokilaben Ambani, his wife, two sons, Mukesh Ambani and Anil Ambani, and two daughters, Nina Kothari and Deepti Salgaonkar. Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian Businessman and the world's fifth Richest man, with a net worth of approximately Anil Ambani (born June 4, 1959) is an Indian businessman As of October 6th 2007 he has a net-worth of US$42 billion making him the 6th richest person in

Dhirubhai Ambani started his long journey in Bombay from the Mulji-Jetha Textile Market, where he started as a small-trader. Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial As a mark of respect to this great businessman, The Mumbai Textile Merchants' decided to keep the market closed on July 8, 2002. Events 939 - The Major Occultation or Ghaybat el-Kubra of Muhammad al-Mahdi 1099 - First Crusade: 15000 See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. At the time of Dhirubhai's death, Reliance Group had a gross turnover of Rs. 75,000 Crore or USD $ 15 Billion. The rupee (रुपया ( code: INR) is the Currency of India. In 1976-77, the Reliance group had an annual turnover of Rs 70 crore and Dhirubhai had started the business with Rs.15,000(US$350)

The country has lost iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime. The rupee (रुपया ( code: INR) is the Currency of India. ^[12].

– Atal Bihari Vajpayee, Former Prime Minister of India

The nation had lost one of the doyens of the modern Indian corporate community, a philanthropist and above all a great human being endowed with great compassion and concern for the underprivileged sections of the society. Atal Bihari Vajpayee (अटल बिहारी वाजपेयी əʈəl bɪhaːɾiː ʋaːdʒpeiː (born December 25 1924 The eleventh Prime Minister of India. The Prime Minister of India is head of the Council of Ministers, appointed by the President to assist the latter in the administration of the affairs of the executive . .

This new star, which rose on the horizon of the Indian industry three decades ago, remained on the top till the end by virtue of his ability to dream big and translate it into reality through the strength of his tenacity and perseverance

His legacy will remain shrouded in the fact that his practices have brought bribery and corruption to indian business for years to come. I join the people of Maharashtra in paying my tribute to the memory of Ambani and convey my heartfelt condolences to the bereaved family. ^[13].

– P C Alexander, Governor of Maharastra

Reliance after Dhirubhai

In November 2004, Mukesh Ambani in an interview, admitted to having differences with his brother Anil over 'ownership issues. Events in November All Saints' Day (formerly All Hallows Day a Christian holy day is celebrated on November 1, the day after Halloween ' He also said that the differences "are in the private domain. " He was of the opinion that this will not have any bearing on the functioning of the company saying Reliance is one of the strongest professionally-managed companies. Considering the importance of Reliance Industries to the Indian Economy, this issue got an extensive coverage in the media. ^[14]

Kundapur Vaman Kamath, the Managing Director of ICICI Bank^[15] was seen in media, a close friend of the Ambani family who helped to settle the issue. Kundapur Vaman Kamath (born December 2 1947 in Mangalore, Karnataka) is the Managing Director and CEO of ICICI Bank, the largest ICICI Bank ( (formerly Industrial Credit and Investment Corporation of India) is India 's largest private sector bank in market capitalization and second largest The brothers had entrusted their mother, Kokilaben Ambani, to resolve the issue. On June 18, 2005, Kokilaben Ambani announced the settlement through a press release. Events 618 - Coronation of the Chinese governor Li Yuan as Emperor Gaozu of Tang, the new Emperor of China, initiating three centuries Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar.

With the blessings of Srinathji, I have today amicably resolved the issues between my two sons, Mukesh and Anil, keeping in mind the proud legacy of my husband, Dhirubhai Ambani.

I am confident that both Mukesh and Anil, will resolutely uphold the values of their father and work towards protecting and enhancing value for over three million shareholders of the Reliance Group, which has been the foundational principle on which my husband built India's largest private sector enterprise.

Mukesh will have the responsibility for Reliance Industries and IPCL while Anil will have responsibility for Reliance Infocomm, Reliance Energy and Reliance Capital.

My husband's foresight and vision and the values he stood for combined with my blessings will guide them to scale new heights. ^[16].

– Kokilaben Ambani

The Reliance empire was split between the Ambani brothers, Mukesh Ambani getting RIL and IPCL & his younger sibling Anil Ambani heading Reliance Capital, Reliance Energy and Reliance Infocomm. Mukesh Ambani (born April 19, 1957 in Yemen) is an Indian Businessman and the world's fifth Richest man, with a net worth of approximately Anil Ambani (born June 4, 1959) is an Indian businessman As of October 6th 2007 he has a net-worth of US$42 billion making him the 6th richest person in The entity headed by Mukesh Ambani is referred to as the Reliance Industries Limited whereas Anil's Group has been renamed Anil Dhirubhai Ambani Group (ADAG)

Film

A film alleged to be inspired by the life of Dhirubhai Ambani was released on 12th January 2007. The Hindi Film Guru, with direction by Mani Ratnam, cinematography by Rajiv Menon and music by A.R.Rahman shows the struggle of a man striving to make his mark in the Indian business world with a fictional Shakti Group of Industries. Guru ( Hindi: गुरू gʊɾuː is a 2007 Hindi film directed by Mani Ratnam. Mani Ratnam (மணி ரத்னம் (born June 2, 1956 in Madurai, Tamil Nadu, India) is a critically acclaimed South Rajiv Menon (born in India) is a Cinematographer and Film maker. Allah Rakkhha Rahman (ஏஆர்ரஹ்மான் born on January 6 1966 as A The film stars Abhishek Bacchan, Mithun Chakraborty, Aishwarya Rai, Madhavan and Vidya Balan. Abhishek Bachchan (अभिषेक बच्चन born February 5, 1976 in Mumbai, Maharashtra, India) is an award-winning Mithun Chakraborty (মিঠুন চক্রবর্তী ''Miṭhun Chôkroborti'', Hindi: मिथुन चक्रवर्ती (born Gouranga Aishwarya Rai-Bachchan or Aishwarya Bachchan (Birthname Aishwarya Rai; Tulu: ಐಶ್ವರ್ಯಾ ರೈ born 1 November 1973 is an internationally R Madhavan (born June 1 1970 as Madhavan Ranganathan) is a Filmfare Award-winning Indian actor Vidya Balan ( Tamil: வித்யா பாலன் Malayalam: വിദ്യ ബാല൯ Hindi: विद्या बालन born January 1 In the film, Abhishek Bachchan plays Guru Kant Desai,a character implicitly based on Dhirubhai Ambani. Mithun Chakraborty portrays Manikda who bears an uncanny resemblance to the real life Ramanath Goenka and Madhvan portrays S. Gurumurthy, who twenty years ago, gained national fame, spearheading virulent attacks against the Reliance group in one of India's bloodiest corporate wars ever. Ramnath Goenka ( रामनाथ गोयंका)( April 3, 1904 &ndash October 5, 1991) was a newspaper baron of India S Gurumurthy ( सगुरूमूरति) is the convenor of the स्वदेशी जागरण मंच (Swadeshi Jagaran Manch, which has affiliation to The film also portrays the strength of Dhirubhai Ambani with the help of the character of Guru Kant Desai. "GURUBHAI" the name given to Abhishek Bachchan is also similar to the original name "DHIRUBHAI. "

Awards and recognitions

• November 2000 – Conferred 'Man of the Century' award by Chemtech Foundation and Chemical Engineering World in recognition of his outstanding contribution to the growth and development of the chemical industry in India
• 2000, 1998 and 1996 – Featured among 'Power 50 - the most powerful people in Asia by Asiaweek magazine. 2000 ( MM) was a Leap year that started on Saturday of the Common Era, in accordance with the Gregorian calendar. India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country 2000 ( MM) was a Leap year that started on Saturday of the Common Era, in accordance with the Gregorian calendar. Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar) Year 1996 ( MCMXCVI) was a Leap year starting on Monday (link will display full 1996 Gregorian calendar) Asiaweek, the English edition was a News magazine focusing on Asia, published weekly by Asiaweek Limited a subsidiary of Time Inc
• June 1998 - Dean's Medal by The Wharton School, University of Pennsylvania, for setting an outstanding example of leadership. Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar) Dhirubhai Ambani has the rare distinction of being the first Indian to get Wharton School Dean's Medal ^[17]
• August 2001 – The Economic Times Award for Corporate Excellence for Lifetime Achievement
• Dhirubhai Ambani was named the Man of 20th Century by the Federation of Indian Chambers of Commerce and Industry (FICCI). Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. The Economic Times, launched in 1961 is India's largest financial daily and the world's second largest financial daily after The Wall Street Journal, Federation of Indian Chambers of Commerce and Industry (FICCI is an association of business organizations in India.
• A poll conducted by The Times of India in 2000 voted Him "Greatest Creator of Wealth In The Centuries". The Times of India ( TOI) is a leading English-language Broadsheet Daily newspaper in India. 2000 ( MM) was a Leap year that started on Saturday of the Common Era, in accordance with the Gregorian calendar. He is the true son of India'

Famous quotes

From beginning Dhirubhai was seen in high-regard. His success in the petro-chemical business and his story of rags to riches made him a cult figure in the minds of Indian people. As a quality of business leader he was also a motivator. He gave few public speeches but the words he spoke are still remembered for their value.

• "" With the force of 3million investors RIL will reap the title "World's Biggest Company"

*"I am deaf to the word "no". "

• "Growth has no limit at Reliance. I keep revising my vision. Only when you dream it you can do it. "
• "Think big, think fast, think ahead. Ideas are no one's monopoly"
• "Our dreams have to be bigger. Our ambitions higher. Our commitment deeper. And our efforts greater. This is my dream for Reliance and for India. "
• "You do not require an invitation to make profits. "
• "If you work with determination and with perfection, success will follow. "
• "Pursue your goals even in the face of difficulties, and convert adversities into opportunities. "
• "Give the youth a proper environment. Motivate them. Extend them the support they need. Each one of them has infinite source of energy. They will deliver. "
• "Between my past, the present and the future, there is one common factor: Relationship and Trust. This is the foundation of our growth"
• "We bet on people. "
• "Meeting the deadlines is not good enough, beating the deadlines is my expectation. "
• "Don't give up, courage is my conviction. "
• "We cannot change our Rulers, but we can change the way they Rule Us. "
• "Dhirubhai will go one day. But Reliance's employees and shareholders will keep it afloat. Reliance is now a concept in which the Ambanis have become irrelevant. "

Unauthorized biography

Hamish McDonald, who was the Delhi bureau chief for the Far Eastern Economic Review for several years, published an unauthorised biography of Ambani in 1998 in which both his achievements and shortcomings were reported, but the Ambanis threatened legal action if the book was published in India. ^[18]

Reference and notes

External links

• Reliance Insider All information about Ambani family and latest news on Reliance
• Dhirubhai Ambani
• Dhirubhai Ambani Institute of Information and Communication Technology
• "The Polyester Prince: Hamish McDonald
• "Remembering the Prince of Polyester," Time Magazine, 15 July 2002
• Dhirubhai Ambani in Memoriam, Rediff.com
• Dhirubhai Ambani addressing at the ChemTech Foundation - PharmaBiz.com - Thursday, January 23, 2003
• Dhirubhai gave management a whole new 'ism' A. Events 393 - Roman Emperor Theodosius I proclaims his nine year old son Honorius co-emperor Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. G. Krishnamurthy on Rediff. com
• Great lessons from Dhrirubhai Ambani A. G. Krishnamurthy on Rediff. com
• Mukesh Ambani Son of Late Sh. Dhirubhai Ambani.
• How did Dhirubhai Ambani learn to think BIG ?.