rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » CBI probe news makes Anil Ambani Group firms shed 10%

CBI probe news makes Anil Ambani Group firms shed 10%

Last updated on: September 30, 2011 13:20 IST

CBI probe news makes Anil Ambani Group firms shed 10%

     Next

Next

Shares of Anil Ambani-led Reliance Group companies fell by nearly 10 per cent on the bourses on Friday, even as the group asserted that it was not a beneficiary of any telecom licence issued in January, 2008.

The group's telecom arm, Reliance Communication, saw its shares plunge by 8.11 per cent to a low of Rs 71.35 in morning trade, while Reliance Capital tumbled by 9.91 per cent to a 52-week low of Rs 323.55 on the Bombay Stock Exchange.

Shares of other group firms, RPower, Reliance Infra, Reliance Mediaworks and Reliance Broadcast, also fell sharply.    

Click NEXT to read further. . .

 

 



     Next

CBI probe news makes Anil Ambani Group firms shed 10%

Prev     Next
Prev

Next

The decline in these shares followed reports that the CBI told the Supreme Court on Wednesday that three Reliance Group executives, Gautam Doshi, Surendra Pipara and Hari Nair, may turn approvers in the case.

However, a Reliance Group spokesperson said in a statement that none of its charge-sheeted executive has expressed any intention to become 'approver' in the ongoing 2G case and the Central Bureau of Investigation had already stated before the trial court that Reliance was not a part of the main 2G conspiracy.

Click NEXT to read further. . .

 

 



Prev     Next

CBI probe news makes Anil Ambani Group firms shed 10%

Prev     More
Prev

More

The spokesperson added that the CBI's inference that there might be undisclosed beneficiaries 'is unsupported by any evidence'.

The group further said that there was 'no change in stand by any of the Reliance executives'.

It further said that 'neither Reliance Telecom nor the promoter group are beneficiaries of any telecom licence issued in January, 2008".

"CBI counsel clearly stated before the trial court that Reliance (was) not part of the main 2G conspiracy. CBI (is) now raising new issues to oppose bail to three Reliance executives," the statement said.

 




Prev     More
© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.