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Mukesh
Ambani takes over as IPCL chairman
PTI
- Mumbai
Mr
Mukesh Ambani is the chairman of the newly acquired Indian Petrochemicals
Corporation Ltd (IPCL).
Reliance
has named five others, including the former IPCL managing director,
Mr K G Ramanathan, on the board of the Vadodara-based company.
The
others are the Reliance Industries Ltd, executive director, Mr Nikhil
Meswani, president (polymers), Mr K P Nanavati, Reliance Capital
managing director, Mr Anand Jain and present IPCL operations director,
Mr S K Anand.
The
Reliance group has taken over the management control of IPCL after
paying a cheque for Rs 1490.84 crore to the government for 26 per
cent stake.
Meanwhile,
IPCL reported a 56 per cent drop in its net profit at Rs 107.47
crore for the year ended March 31, 2002 as opposed to Rs 248.90
crore posted last fiscal.
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