Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed executive director on flagship Reliance Industries, will be paid Rs 10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice. While the richest Asian's all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three was in April this year appointed executive director of Reliance Industries Ltd.
Six directors of Reliance Energy Ltd have resigned from the board.
Reliance Energy Ltd said on Thursday it has got shareholders' approval for the merger of Reliance Energy Ventures Ltd with itself.
Anil Ambani Group firm Reliance Capital on Monday sold its entire stake in another group company Reliance Energy to other promoters in a block deal on the bourses, booking profits of about Rs 350 crore (Rs 3.5 billion).
The Government on Thursday approved 48 foreign direct investment proposals aggregating Rs 793.90 crore (Rs 7.94 billion), including Reliance Energy's Rs 450 crore
He gave the department time till February 13 to provide a complete record of office notes, orders and correspondence in this regard.
Reliance Energy on Wednesday signed the State Support Agreement (SSA) with Uttar Pradesh for sale of electricity from the world's largest gas-based power plant of 3740 MW at an investment of over Rs 11,000 crore (Rs 110 billion).
"The new name reflects the branding philosophy followed by the ADA Group, where name signifies the space in which business operates and create a sharper brand presence among the stakeholders. The name change will not affect any of the rights of the company or the shareholders of the company," a senior company official said. The board of directors has decided to change the name of the company, subject to the shareholders approval and compliance with related formalities.
Uttar Pradesh Congress Committee president Salman Khurshid on Sunday termed the agreement between Reliance Energy and the Mulayam Singh Yadav government as a "sell-out".
Anil Ambani Group firm Reliance Energy, Tata Power, GMR and aluminium manufacturer Nalco are keen to enter nuclear power business, NPCIL Director (Finance) JK Ghai said.
Plans warrants, preference shares for projects.
Reliance Energy Ltd is planning to buyback part of its equity shares from the market.
Sandeep Ohri has been waging a lone battle against Reliance and is intervener between the power utility and the power regulator.
Reliance Energy Ltd has posted a 44.42 per cent rise in its net profit at Rs 128.13 crore (Rs 1.28 billion) for the second quarter ended September 30, 2004.
The move comes just two days after Reliance Power, another group company in which REL owns 45 per cent, offered bonus shares to its shareholders in the ratio of 3:5.
Reliance Energy Ltd on Wednesday reported a 24.7 per cent rise in net profit for the quarter ended June 30, 2004 at Rs 110 crore (Rs 1.10 billion) as against Rs 88.2 crore (Rs 882 million) posted in the corresponding period last fiscal.
Power will become dearer to subscribers of Reliance Energy Ltd by 19 per cent on an average for the period between April 24, 2007, and March 31, 2008, after the new tariff order was released by the Maharashtra Electricity Regulatory Commission.
Anil Ambani-controlled Reliance Energy Ltd on Wednesday reported a 24.53 per cent rise in net profit at Rs 159.57 crore.
The group has lined up close to a dozen projects, which will take the company's installed capacity to around 18,000 mw.
Reliance Energy has posted a net profit of Rs 1479.30 million (Rs 14.79 crore) for the quarter ended March 31, 2005 as compared to Rs 1037.90 million (Rs 10.37 crore) for the quarter ended March 31, 2004.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
In a setback to Tata Power, the Supreme Court on Wednesday dismissed the company's challenge to the Maharashtra Electricity Regulatory Commission's (MERC's) decision to award a Rs 7,000-crore transmission project near Mumbai on a nomination basis to Adani Electricity. The court upheld the order by the Appellate Tribunal for Electricity (APTEL) in this case and directed all State Electricity Regulatory Commissions to frame guidelines on tariff determination in accordance with Section 61 of the Electricity Act and the national policy. The verdict has implications for the Mumbai power market, said Ashok Pendse, an energy expert based in the city.
Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amount of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
A day after the merger approval of Reliance Capital with RCVL, Anil Ambani-controlled Reliance Energy Ltd on Tuesday approved the merger of Reliance Energy Ventures
Anil Ambani and other promoters consolidated their stakes in REL to 52%.
The project of Reliance Energy with capacity of 4000 MW at Shahapur in coastal Raigad district is in progress and is expected to be completed by 2011, Maharashtra Legislature was informed.
The Shiv Sena on Wednesday staged protest at various places in Mumbai against the tariff hike announced by power suppliers in the state including the Reliance Energy.
Relaince Energy received the shareholders approval for raising funds through issue of securities.
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