Billionaires taken to task by rise of Indian small investors

With Anil Ambani's telecom unit battling insolvency proceedings, the Indian billionaire found a target to blame for some of its woes at a recent shareholder meeting: Shailesh Mehta, a 71-year-old investor who holds just 10 shares in the indebted company.

Addressing the hall, Ambani said Mehta had cost banks and other shareholders by challenging, in the Bombay High Court, Reliance Communications' attempt to merge with another telecom operator, Sistema Shyam Teleservices. Ambani's frustration with the activist is.....

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