Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
Reliance Communications chairman Anil Ambani on Thursday met Finance Minister P Chidambaram and senior DoT officials, even as his company started examining the books of Hutchison Essar Ltd for a possible bid.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
The debt resolution involves RCom exiting the SDR framework with no conversion of debt into equity and zero write-off by lenders, Anil Ambani said, adding that he expects full closure by March 2018.
Anil Ambani said on Wednesday his Reliance Group will invest Rs 50,000 crore (Rs 500 billion) in Gujarat in the next 5-7 years on various projects as the firm looks to tap opportunities in the state.
Reflecting the differences with elder brother Mukesh on buyback of shares by flagship company Reliance Industries, Anil Ambani on Wednesday said he had proposed that 12 per cent equity in RIL held by the Petroleum Trust and four companies be distribu
Two and a half hours into voting day and Maharashtra saw its top netas and Bollywood celebrities come out and vote. Among the early voters on Wednesday were...
The security cover of Anil Ambani is likely to be beefed up following reports that he was getting threatening calls.
The company has defaulted on some of the payments to lenders and it has received time till December for strategic restructuring plan
Modi had last month launched the 'Give-it-Up' campaign.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
Gautam Doshi, Surendra Pipara and Hari Nair, senior executives of the Reliance ADA Group who were granted bail on Wednesday by the Supreme Court in the 2G spectrum scam case, will provide major relief to their high-profile boss Anil Ambani.
Is it Rs 300 billion or Rs 66 billion or Rs 33.12 billion?
In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.
Anil Ambani on Wednesday took over as the Chairman of Reliance Communication Ventures Ltd, a day after the Mukesh Ambani Group handed over management control of the demerged companies to the younger sibling.
Clearly, he is in the right place, at the right time.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
Anil Dhirubhai Ambani group chairman Anil Ambani on Saturday committed to set up a Special Economic Zone in Chennai and also invest Rs 12,000 crore for a 1,000 MW power plant, IT Park and desalination project.
This deal will make Music Broadcast, which currently operates 39 channels, the largest private FM Channel operator.
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
The celebrations continued with the mehendi ceremony for Radhika Merchant and Anant Ambani.
Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani has taken a huge cut in his total remuneration from his four main companies in 2011-12 at about Rs 5.5 crore (Rs 55 million), lower by nearly two-third from the previous year.
The success of Anil Ambani's ambitious defence plan will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether the PM can get India's notoriously slow procurement process to work, say Paritosh Bansal, Sanjeev Miglani and Promit Mukherjee.
RInfra's plan to lease out headquarters property may face legal hurdle. Moreover, PE players with balance sheets that can take on Reliance Centre Office in Santacruz would be limited and include a handful of players such as Blackstone group, GIC, Brookfield Asset Management and Maplewood Investments.
As the last part of his name ended in 'ni', which is common for Sindhi, everyone thought he was one.
Decision-making has been very poor, Ambani said.
Bharti group's Sunil Mittal retained his fourth position, followed by Wipro's Azim Premji at the fifth slot.
Anmol Ambani, the eldest son of industrialist Anil Ambani, has lashed out against a new round of lockdowns being imposed amid the surge in COVID-19 cases, saying such restrictions do not concern health but control and that they destroy the very backbone of the society and economy. The 29-year-old former executive director of Reliance Capital Ltd in a series of tweets lambasted the new semi-lockdown rules hurting small businesses and daily wage earners. "Professional 'actors' can continue shooting their films. Professional 'cricketers' can play their sport late into the night. Professional 'politicians' can continue their rallies with masses of people. But YOUR business or work is not ESSENTIAL. Still don't get it?" he said in a tweet.
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
Besides paying his respects to Ram Lalla, the megastar, who was accompanied by his son Abhishek, was seen rubbing shoulders with quite a few dignitaries.
Reliance's network includes the wide reach of IM Global,
Group suspects taped conversations must have been spliced, altered, doctored and manipulated to serve interests of those engaged in tapping operations
BSES entities BRPL (BSES Rajdhani Power Limited) and BYPL (BSES Yamuna Power Limited) supply electricity to around 12 lakh and 16 lakh customers respectively.
After attending the pran pratishtha ceremony at the Ram temple in Ayodhya on January 22, film folk were spotted at the Mumbai airport, as they made their way home.
In a two-page letter written on December 12, 2017, the Reliance head said he was "personally saddened" by the "unfortunate statements" against him and his group by several functionaries of the Congress party.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
Mukesh Ambani's Jio, high debt and some bad decisions drove RCom to its grave.
The film folk turned out in traditional outfits for the pran pratishtha at the temple.
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