reliance unit loses anil ambani anil ambani  the younger of the two brothers in charge of india s largest private company  has resigned from running its petrochemicals subsidiary.  the move is likely to be seen as the latest twist in a feud between mr ambani and his brother mukesh. anil  45  has stepped down as director and vice-chairman of indian petrochemicals corporation (ipc). the company was not available for comment. ipc is 46%-owned by reliance industries which in turn is run by mukesh. mukesh has spoken of ownership issues between the two brothers  who took over control of the reliance empire following the death of their father in july  2002.  reliance s operations have massive reach  covering textiles  telecommunications  petrochemicals  petroleum refining and marketing  as well as oil and gas exploration  insurance and financial services. the brothers  spat has hogged headlines in india during recent weeks  despite a denial from the family that there was anything wrong. speculation has been rife about what has triggered the stand-off  with some observers blaming anil s political ambitions  others the heavy investment by mukesh and reliance in a mobile phone venture. shares of ipc dipped on the news in mumbai  but recovered to trade almost 6% higher. reliance shares added 1.7%  while reliance energy  headed by anil  jumped 7%.