New Delhi: Though he has no official title at Reliance, he aspires to rule the country’s largest private sector conglomerate. He is a successful industrialist in his own right, and several businesses do business with Reliance. Many people in RIL said that he looks exactly like the third son of Dhirubhai Ambani. Who is Anand Jain, whom one Ambani loves and the other hates?
He has worked as the backroom boy of the Ambani family for many years. Anil Ambani’s resignation from the IPCL board resulted in the death of Mukesh Ambani’s former classmate Anand Jain, who some claimed served as his mentor and philosopher.
Anand Jain has recently become a key player in the day-to-day management of Reliance Group businesses, especially its telecom company Reliance Infocomm.
Mr Jain, who shuns the spotlight and generally stays away from the spotlight, suddenly finds himself at the center of the Ambani vs Ambani controversy. Allegations by Anil Ambani that Mr. Jain is responsible for the growing tension between the Ambani brothers have drawn the attention of corporate India to this important Mukesh Bhai Ambani advisor.
Even though Mr. Jain has often acted as the group’s “firefighter” when conflict arose, which is common, he has made a concerted effort to maintain a low profile.
Mr. Jain is described as an industrialist in the documents submitted at the time of acquisition of Flag Telecom. He has financial ties to firms such as Jai Corp and Prime Industries, which provide goods and services to the Reliance Group.
According to sources close to RIL vice-chairman Anil Ambani, these links present a conflict of interest. Meanwhile, friends of Anand Jain claim that there was no unfair treatment and that Reliance was never harmed as a result of its business dealings with entities owned by his family.
Mr. Jain serves on the boards of Reliance Infocomm and IPCL, in addition to serving as non-executive vice-chairman of Reliance Capital. According to RIL sources, he does not receive any salary from Reliance group entities.
He does not have any specific position inside Reliance Company. Mr. Jain is incredibly skilled with math and has a razor-sharp focus. He is well versed in all financial markets including equity and debt markets.