During the boom, firms bid recklessly for contracts (including an extension to the Sea Link bridge, won by the Reliance Group, run by Anil Ambani).
As Anil Shahi, who works behind the coffee counter at the Base Camp cafe, says: "If someone buys a bicycle, then their status is down".
But Anil Gupta at INSEAD, a business school, does not think the continuing restrictions on ownership will be a big deterrent.
In Film City, a leafy area north of Mumbai reserved for movie sets, Anil Arjun runs a new facility that will offer film-makers everything from sets and camera equipment to editing services.
It is part of the Reliance Group, run by Anil Ambani and active in power, finance and telecoms, among other things.
Anil Ambani's Reliance Group needs to raise equity.
And Vodafone's share price plummeted after it said it expected revenue for the year to be towards the bottom of its outlook range.The merger of India's Reliance Communications and MTN, a South African wireless operator, was called off because of a feud between Anil Ambani, owner of the Indian company, and his brother Mukesh.
THE rancorous feud between India's Ambani brothers, Mukesh and Anil, has reached a new low.
Reliance Industries in turn has big stakes in Infocomm and Reliance Energy, a listed company run by Anil, which is India's biggest private-sector power utility.
Anil runs marathons and consorts with the glitterati.
This was seen as a move to undermine Anil, and suggested that the battle will cover the whole group.
