Reliance Capital Ltd (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said. Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new bids have come in for Reliance Capital's assets, taking the total number of bids to 70, the sources said.
A sharp rise in Reliance-Anil Dhirubhai Ambani Group (ADAG) stock prices baffled market players on Tuesday.
The supplies to Anil Ambani Group's power plants including the one proposed at Dadri near Delhi, will be subject to government approving the allocation of the fuel, Mukesh Ambani said.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
The government on Friday said allocation of natural gas to companies like Anil Ambani Group's RNRL will depend on availability of the fuel after supplying to already designated users.
The US Eximbank is believed to have sanctioned $910 million in loan guarantee towards equipment to be supplied to Anil Ambani Group's Rs 20,000 crore (Rs 200 billion) power project in Madhya Pradesh, India.
Three Anil Ambani Group companies -- Reliance MediaWorks, Reliance Capital and Reliance Capital Partners -- have acquired 16,196 shares, or 0.05 per cent stake, of Fame India through open market transaction, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
Anil Ambani Group firm Reliance Power has chalked out an ambitious plan to invest about Rs 80,000 crore (Rs 800 billion) in the next three years for creating 20,000 MW of thermal power generation capacity.
Anil Ambani group on Monday said the oil ministry's interference in marketing and pricing dampened investor interest in India's auction of oil and gas blocks and its chairman had warned the Prime Minister about the same.
The anxiety among investors over the outcome of the bitter battle between Mukesh Ambani-led RIL and his younger brother Anil Ambani group on gas came to an end on Friday, with the Supreme Court ruling that the government had the last word.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
Resuming arguments over its dispute with Anil Ambani Group firm Reliance Natural Resources Ltd, senior counsel Harish Salve said it was RNRL which had in 2007 argued that marketing freedom cannot be allowed to the Mukesh Ambani-run firm and asked the government to frame Gas Utilisation Policy.
Oil regulator V K Sibal has alleged that Anil Ambani Group had orchestrated a vilification campaign against him to settle personal scores with corporate rival Mukesh Ambani-led Reliance Industries.
If the Indian government insults them, then they will will ensure its removal, Gandhi said.
Stating that Anil Ambani Group firm's project was neither installed nor operating, petroleum minister Murli Deora had earlier this week told Parliament that the Dadri project would be considered for allocation of gas along with similar other upcoming projects. RPower said it had initiated the ICB process for selection of EPC contractors for its power plants way back in 2005 but not concluded owing to Mukesh Ambani promoted Reliance Industries Ltd's refusal to supply gas.
A friend of Mukesh Ambani should not be petroleum minister
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
Mukesh Ambani's Reliance Industries Ltd on Wednesday told the Supreme Court that the demerger scheme worked out with his brother Anil Ambani was categorical that the gas supplies from the KG Basin to his group was not for trading and meant for promoting power generation plant.
The long-drawn dispute between the two Ambani brothers took another turn on Sunday, with both Mukesh Ambani and Anil Ambani saying all disagreements can be sorted in a cordial and conciliatory manner.
Terming as "illegal" marketing margins charged by RIL on gas supplied to it, Anil Ambani group firm Reliance Infra has asked the Mukesh Ambani-led company to withdraw these charges and refund the payments it had made till now.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
Industrialist Anil Ambani on Wednesday met key ministers and senior government officials in New delhi, a day after he accused the Union oil ministry of helping the Mukesh Ambani-run RIL renege its commitment on supplying gas to his group firm.
The arguments in the high-voltage bitter legal battle for the first time saw Anil Ambani sitting during the court proceedings throughout the day.
Jethmalani described the gas row between the Ambani brothers as a saga where the government has kept the public interest at the farthest and huge wealth has been put in private pockets.
Aiming to become one of the top five cement companies in the country, Anil Ambani group company Reliance Infrastructure has chalked big plans to set up plants which entail an investment of Rs 10,000 crore.
The shares of the Mukesh and Anil Ambani group companies were on fire on Monday following the brothers burying their hatchet, with RIL gaining 2.58 per cent and Reliance-Power rallying 7.86 per cent.
RIL said the Anil Ambani group firm "does not have a single power plant since the demerger (of the Reliance empire) and the ADAG owns just one gas-based plant."
Announcing the rollout, Anil Ambani told reporters that the company has invested over Rs 10,000 crore (Rs 100 billion) in the project, which was completed six months ahead of schedule. Reliance Communications mobile users will now have a choice of both CDMA and GSM services, Ambani said, adding, "the project was completed within 15 months", six months ahead of schedule.
Anil Ambani group counsel Mukul Rohtagi said he had no objection.
A day before the deadline of exclusive takeover talks between Anil Ambani's Reliance Communications and South African company MTN expires, Reliance Industries has invoked the dispute resolution clause of the non-competition agreement against RCom. However, RCom plans to go ahead with its proposed merger with MTN without taking RIL's claim into account.
Reliance Communications (RCom), the country's second biggest mobile operator promoted by Anil Ambani, has earmarked Rs 30,000 crore for capital expansion this financial year with an aim to take its subscription to 100 million by 2010 from the current 60 million.
Anil Ambani group firm Reliance Communications on Monday said news reports that it was acquiring the English Premier League club Newcastle United for an estimated 260 million pounds were false and baseless.
Anil Ambani group firm Reliance Communications denied news reports that it was acquiring the EPL club Newcastle United for an estimated 260 million pounds.
The Congress chief took a dig, saying the documents have disappeared like two crore jobs for youths, right price for farmers' produces and the promised 15 lakh for everybody.
Kapoor, 62, and the Wadhawans were arrested by the agency in this case early this year and they are in judicial custody at present.
The power sector has been notorious for missing capacity addition targets and it remained just that in 2008.
Mysterious text messages have begun circulating in Mumbai praising Anil Ambani, the Indian businessman.
Anil Ambani on Wednesday announced formation of two new companies, Global Fuel Management Services and Reliance Communication Ventures Ltd, under the Anil Dhirubhai Ambani Enterprises umbrella.
'Modi had promised to deposit money in the accounts of people, but he has done it only in the case of some rich businessmen like the Ambanis'
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