Dhirajlal Hirachand "Dhirubhai" Ambani (28 December 1932 – 6 July 2002) was an Indian billionaire businessman who founded Reliance Industries in 1958.

During this period, Ambani and his family stayed in a two-bedroom apartment at the Jai Hind Estate in Bhuleshwar, Mumbai.

Sensing an opportunity, The Bear Cartel, a group of stock brokers from Calcutta, started to short sell the shares of Reliance.

Authorities from the Bombay Stock Exchange (BSE) intervened in the matter and brought down the "Unbadla" rate to ₹ 2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days.

Not many people were able to understand how a yarn trader until a few years ago was able to get in such a huge amount of cash flow during a crisis period.

An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters.

[22][23] The country has lost iconic proof of what an ordinary Indian fired by the spirit of enterprise and driven by determination can achieve in his own lifetime.

[24]This new star, which rose on the horizon of the Indian industry three decades ago, remained on the top until the end by virtue of his ability to dream big and translate it into reality through the strength of his tenacity and perseverance.

I join the people of Maharashtra in paying my tribute to the memory of Ambani and convey my heartfelt condolences to the bereaved family.

[28] In 1988 an unauthorized biography of Dhirubhai Ambani, by Hamish McDonald with the title The Polyester Prince, outlined all his political and business conquests.