The show of unity by India`s richest family came more than a year after Mukesh and Anil Ambani buried the hatchet in a five-year battle that split the business empire inherited from their father, but family watchers were sceptical that the reunion would result in renewed business ties.
The PIL filed by Cuttack Bachao Andolan had urged the High Court to scrap the agreement in which OSRTC had leased out about 2.605 acres of its land located near Badambadi bus terminus here to the Reliance group.
Shares of India`s biggest listed company Reliance Industries are down since mid-June, compared with the rising benchmark index, in an unusual occurrence for a firm seen as a bellwether for the country`s stock market.
Aiming to set a "personal example" of moderation in executive salaries, Reliance Industries Thursday said its chief Mukesh Ambani has decided to lower his pay package by nearly two-thirds to Rs 15 crore for 2008-09.
India`s official auditor has on record said his office was yet to ratify the Rs.45,000 crore ($9 billion) capital expenditure claimed by Mukesh-led Reliance Industries for tapping natural gas from the Krishna-Godavari basin.