M L Bhakta, a founder director of the Reliance Industries [ Get Quote ], is believed to have withdrawn his resignation, ahead of the crucial board meeting of the flagship company, in a move seen as a boost to Mukesh Ambani [ Images ] involved in a bitter battle with younger brother Anil.

The Reliance 'ownership issue'

Bhakta, an associate of late Dhirubhai Ambani [ Images ], had resigned in November within days of the struggle between the brothers coming into open. A legal expert, Bhakta had joined the RIL board in 1977 when the company was formed. He enjoyed a good relationship with both the brothers.

Mukesh had personally gone to Bhakta's residence in Mumbai [ Images ] to persuade him to reconsider the decision.

When contacted, a RIL spokesperson told PTI, "We don't know, please check up with Mr Bhakta."