Reliance Industries Limited on Friday clarified that Chairman Mukesh Ambani and his family have no plans for relocation to anywhere else in the world. The clarification came after a news report claimed that the Ambani family had acquired Stoke Park estate in London and plans to relocate there. The company said the speculations were "unwarranted and baseless".
"A recent report in a newspaper has led to unwarranted and baseless speculation in social media regarding the Ambani family's plans to partly reside in Stoke Park, London. Reliance Industries Limited will like to clarify that the chairman and his family have no plans whatsoever to relocate or reside in London or anywhere else in the world," the company's statement read.
The conglomerate clarified that its subsidiary, Reliance Industrial Investments and Holdings Limited, had acquired the heritage property in order to revamp it into a premier golfing and sporting resort. It added that the transaction was fully compliant with the planning guidelines and local regulations.
"This acquisition will add to the fast-growing consumer business of the group. Simultaneously, it will also expand the footprint of India's famed hospitality industry globally," the company stated.
At present, the Reliance Industries Chairman along with his family reside at 'Antilla', which is located on Altamount Road in South Mumbai and is among the most expensive residential properties in the world.