The move is likely to be seen as the latest twist in a feud between Mr Ambani and his brother Mukesh.

Anil, 45, has stepped down as director and vice-chairman of Indian Petrochemicals Corporation (IPC). The company was not available for comment.

IPC is 46%-owned by Reliance Industries which in turn is run by Mukesh.

Mukesh has spoken of ownership issues between the two brothers, who took over control of the Reliance empire following the death of their father in July, 2002.

Struggle?

Reliance’s operations have massive reach, covering textiles, telecommunications, petrochemicals, petroleum refining and marketing, as well as oil and gas investment mcgraw hill irwin series in finance insurance and real est
, insurance and financial services.

The brothers’ spat has hogged headlines in India during recent weeks, despite a denial from the family that there was anything wrong.

Estate finance hill in insurance investment irwin mcgraw real series
has been rife about what has triggered the stand-off, with some finance or insurance or real estate
blaming Anil’s political ambitions, others the heavy asset company derivative finance from in insurance insurance liability management underwriting wiley
by Mukesh and Reliance in a mobile phone venture.

Shares of IPC dipped on the news in Mumbai, but recovered to trade almost 6% higher.

Reliance shares added 1.7%, while Reliance Energy, headed by Anil, jumped 7%.