Mukesh Ambani, the chairman of flagship Reliance Industries, first admitted more than seven months ago that there were "ownership issues" between the pair.
Under an agreement reached last weekend, Mukesh will become the sole boss of Reliance Industries, while Anil has been given control over Reliance's power, capital and telecommunications businesses.
"Giving away telecom giant Reliance Infocomm must have been emotionally very tough for Mukesh since it was he who built it up single handedly," said a prominent Bombay oilman who knows the brothers.
