Reliance Daughters job at AZB causes Justice Raveendran to withdraw Justice Reddy to now sit on Reliance matter

Justice RV Raveendran [pictured], one of the judges hearing the Reliance matter, has recused himself, citing a possible conflict of interest as his daughter, Sunita Rajesh, is a Partner at AZB, Bangalore. AZB & Partners had advised Mukesh Ambani during his split from his younger brother and was instrumental in finalizing the family MoU which is being disputed before the Supreme Court. Justice Sudershan B Reddy will be replacing Justice Raveendran on the Bench hearing the Reliance dispute..The Court also rejected the intervention plea of Vishweshwar Madhavrao Raste, who claims to be a shareholder in RIL and RNRL, and who had sought tabling of the family MoU of 2005..Justice RV Raveendran [pictured], one of the judges hearing the Reliance matter, has recused himself, citing a possible conflict of interest. He said, “I came to know [yesterday] that my daughter is a Partner in AZB company. This company is advising RIL on global acquisitions. Though it is not directly connected with the case I don’t want to continue with the case.” Sunita Rajesh, Justice Ravindran’s daughter, who was previously a Partner at Bangalore-based Anup S. Shah Law Firm, became a Partner at AZB when the two firms merged in July this year..AZB & Partners had advised Mukesh Ambani during his split from his younger brother and was instrumental in finalizing the family MoU which is being disputed before the Supreme Court..On Day 1 of the hearing, Justice Raveendran had declared that he owns an equal number of shares of both RIL and RNRL, and had offered to recuse himself from the Bench if either of the parties had any objection. Harish Salve had only requested that this matter be recorded, but neither of the counsels raised an objection. The details of Justice Ravindran’s shares in both companies were disclosed on the Supreme Court website on November 2, when 21 of the 22 judges of the Supreme Court went public with their assets..Justice Raveendran owns 772 shares of Mukesh Ambani-controlled RIL. In the Anil Ambani-controlled companies, he owns 783 shares in Reliance Communications, 821 shares in Reliance Capital, 840 shares in Reliance Energy, which is now listed as Reliance Infrastructure and 783 shares in RNRL. Justice Raveendran has elicited praise from several quarters for his stand in the matter..The arguments will commence afresh on November 5 with Justice Sudershan B Reddy replacing Justice Raveendran on the Bench hearing the Reliance dispute..Separately, for once, both the brothers have come together to oppose a shareholder intervention plea to make the family MoU public. “For a change we are on the same side,” RIL and RNRL’s counsel Harish Salve and Mukul Rohatgi, who have been attacking each other over the dispute, told the Bench headed by Chief Justice K G Balakrishnan. Vishweshwar Madhavrao Raste, who claims to be a shareholder in RIL and RNRL, had sought tabling of the family MoU of 2005..The Supreme Court, dismissing his petition, said, “We are not allowing anybody to intervene. In this way, this court will have to hear three million shareholders.”.Vishweshwar has the reputation of being an activist shareholder. He has sought intervention in other high profile corporate disputes and restructuring. He had previously objected to the Birlas’ amalgamation petition, opposing the sanction of the scheme of amalgamation between Aditya Birla Nuvo and Indo Gulf Fertilizers Limited in the Allahabad High Court on the ground that “the scheme was not genuine or bona fide“..Click here for Day 2, Day 3, Day 4 and Days 5 and 6 of the Reliance matter.