Flaying post-bid concessions to Reliance Power, the CAG on Friday said the Anil Ambani-led firm got undue benefit of Rs 29,033 crore (Rs 290.33 billion) when the government allowed use of surplus coal from blocks alloted to Sasan power plant for its other projects.
There is much more that the government can do to track money hidden abroad.
In a statement issued from New Delhi, Ambani-led Reliance group, however, said that no charges have been levelled against them by the UK regulators in these proceedings.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
The Congress president cited a report quoting Gadkari as saying that party workers should first fulfil their domestic responsibilities as "those who cannot do that cannot manage the country".
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
Telecom services provider Reliance Communications (RCom), in a consortium led by IT firm HCL Infosystems, is believed to have bagged the Rs 300 crore (Rs 3 billion) contract for government's national identity card programme, Aadhaar.
These trusts are being registered under a new framework.
The sources said the IAF has briefed the defence ministry about the incident and that the Indian mission in Paris has been in touch with French authorities.
As of March 31, 2010, RCom held a 89.71 per cent stake in Reliance Infratel.
Pulok Chatterjee has joined the Prime Minister's Office.
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
Asks India Inc for a list of concerns in 4 weeks, to coordinate policy response within 60 days; FM says prevailing cynicism based on perception, not facts.
NGO files a detailed documented complaint against Sibal for reducing the penalty of Anil Ambani-controlled Reliance from Rs 50 crore to only Rs 5 crore. Sheela Bhatt reports.
Chiefs of leading telecom firms, including Sunil Mittal of Bharti Airtel, Anil Ambani of RCom and Vittorio Colao of Vodafone, met Telecom Minister Kapil Sibal on Wednesday and placed their views.
ICICI Bank, the country's largest private sector lender, and the Anil Ambani Group are looking at CLSA and Cheuvreux, the broking franchises of French financial conglomerate Credit Agricole, according to international media reports. Both franchises put together may be valued at $3.5 billion.
Creating a new image for the client concerned, while making him disappear from the public domain for some time, are among the strategies that often work.
"It is a rubbish petition. If I find that we you (petitioner) have tried to interfere with the investigation then you may be in bigger trouble," Justice Ajit Bharihoke said.
The Supreme Court on Monday refrained from passing any order on a PIL filed against Telecom Minister Kapil Sibal accusing him of reducing a penalty amount favouring Anil Ambani-headed Reliance Communications, saying persons aggrieved can avail remedy under the law.
Telecom Minister Kapil Sibal tried to put up a brave front over the allegations levelled against him of causing loss to the government by favouring an Anil Ambani-led company.
According to sources in the know, Anil Ambani-led RCom will be providing all infrastructure - towers, fibre, backhaul as well as its national and international long distance facilities-- to RIL's high-speed broadband services.
Changing market dynamics have led to the Tata group overtaking the combined market wealth of the two Ambani groups put together.
Lauding the contribution of non-resident Indians in the development of the country, he said, 'Mahatma Gandhi, Sardar Patel, B R Ambedkar, Jawaharlal Nehru were all NRIs. They travelled the world and helped India with new perspectives.'
Despite posting a loss, the company has declared a modest dividend.
An eclectic mix of Radias, Ambanis and Akulas hogged the headlines this year, with many an unfolding plot promising eventful corporate tales in 2011.
Rohatgi was in June, 2014 appointed as the country's chief law officer for a fixed three-year term.
Anil's RCom straddles 2G, 3G; Mukesh has spectrum to operate in 4G.
The application of Anil Ambani Group company Reliance Infrastructure (R-Infra) for an extension in its existing power distribution licence to the suburbs of this metropolis has been rejected. It has, instead, been told to join the competitive process for a new one, with four other bidders.
Anil Ambani-led Reliance Broadcast Network Ltd (RBNL) today announced its foray into the regional television space with the launch of its Hindi entertainment channel - Big Magic. The channel, which will be targeted at the core Hindi heartland, will be launched on April 4.
Anil Ambani's Reliance Power will set up a joint venture with Shanghai Electric Company to manufacture thermal power equipment in India. The Chinese company will also supply $10-billion (Rs 44,000-crore) worth of boiler-turbine-generator (BTG) packages for Reliance Power's proposed coal-based domestic power plants.
The transaction pegs the total valuation of Reliance Life Insurance at approximately Rs 11,500 crore ($2.6 billion), the statement said, adding that the transaction is subject to necessary regulatory approvals.
Unlike the traditional model of paying commission to insurance agents on the basis of the business generated by them, the rural agents would be recruited under this new programme on a fixed income structure, the company said.
The Reliance Anil Dhirubhai Ambani Group plans to develop Baramati, about 100 km from Pune, as a hub for private jets, with airports in Mumbai and Pune facing acute shortage of parking bays. Baramati is also the home town of Union agriculture minister and Nationalist Congress Party chief Sharad Pawar.
The CBI on Wednesday called Loop Telecom, CEO Sandeep Basu, Chairman of Shyam group Rajiv Mehrotra, former telecom minister A Raja's brother A K Perumal and close aide Sadiq Batcha, for questioning in relation with the 2G spectrum scam.
It is a tale of two deals: One completed and the other, announced and later aborted.
BSNL had disconnected the point of interconnection of Reliance Communications on May 23 and May 31 in Haryana and on May 4 in Punjab claiming non-payment of pending dues by the private telco.
Two Anil Ambani group companies, Reliance Power and Reliance Natural Resources, on Monday said their respective shareholders have approved merger between the two entities, estimated to create a Rs 50,000-crore (Rs 500 billion) entity.
A teenager hailing from Jharkhand was arrested for allegedly posing as a Pakistani national and sending a death threat through an email to industrialist Anil Ambani. 17-year-old Rajesh Kumar Agarwal, a student from Dhanbad district of Jharkhand, was arrested from his home town and was being brought to Mumbai, Additional Police Commissioner (Crime) Deven Bharti said.
#MainBhiChowkidar was trending world wide on Twitter.
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