Reliance Refutes Rumours About Ambanis' Relocation To London

Reliance Industries Ltd said on 5 November that billionaire Mukesh Ambani has no plans to relocate or reside in London or anywhere else, putting an end to rumours about India's richest family sharing their time between the United Kingdom and Mumbai.

The company dismissed claims that the Ambani family was considering making Stoke Park, a 300-acre country club in Buckinghamshire, their primary house as "unwarranted” and unsubstantiated “speculation".

In a statement, the Indian multinational conglomerate company said: "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 Rumour

According to Financial Express, a newspaper recently reported that the Reliance group had paid Rs 592 crore for the ultra-exclusive London property.

As per the report, Ambani, who currently resides in India's financial capital Mumbai in a luxurious 400,000 square foot residence, will split his time between Antilia and the Stoke Park estate.

But the Reliance statement refuted the claim that the Buckinghamshire country club is his second home, while it made no mention of the billionaire's frequent trips abroad.

A mandir, which is identical to the Jamnagar and Mumbai mansions, is also present in the 49-bedroom London property. The Stoke Park home, which had previously been a private property, was converted into a country club around 1908.

The Stoke Park estate has been used as a luxurious setting in two James Bond films.

However, Reliance said in a statement: "RIL group company, RIIHL, which acquired Stoke Park estate recently, would like to clarify that its acquisition of the heritage property is aimed at enhancing this as a premier golfing and sporting resort, while fully complying 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 noted.