The panel undertook the review of the blocks from September 6-8.
Meeting in the midst of a raging controversy, an inter-ministerial group on coal blocks on Monday skirted a decision on cancelling allotments of 58 mines, but firmed up the guidelines for forfeiting of bank guarantees for failure to develop them.
Amidst the storm over CAG report on coal block allocation, the Prime Minister's Office has expressed displeasure over inaction by the Coal Ministry in cancelling blocks where mining has not taken place and asked it to expedite the matter by September 6.
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.
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
'While investors in Reliance have had to play a game of patience for long stretches, for Anil the challenge is to do what used to be his brother's forte -- generating cash by putting assets in the ground and making things,' says T N Ninan.
Investors in many Indian companies would have a sense of deja vu after Facebook's public issue turned into a Wall Street debacle. For, over the past five years, Indian markets have been witness to many such breathlessly hyped Initial Public Offers (IPOs) which crashed in an equally spectacular way on the listing day and never recovered.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
In spite of the high number of exits, Reliance group firms of both brothers continue to be darlings of small investors
RCom's employee cost declined by 20.7 per cent.
Pulok Chatterjee has joined the Prime Minister's Office.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
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.
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
In what could be a coincidence, the two Ambani groups have separately approached the Securities and Exchange Board of India for settlement of probes by the regulator in two separate cases of alleged violation of trading regulations.
A Reliance Power General Manager Manoj Kumar Ojha was killed on Wednesday when two armed men suspected to be members of a splinter Maoist group fired at his vehicle in a village in this district, the police said.
Reliance Infra claims the run by the market operator has caused a loss of Rs. 300,000 crore to infrastructure stocks.
The joint statement from Friends of the Earth, Pacific Environment, Oil Change International and Groundwork on Tuesday precedes the Exim Bank Board meeting, scheduled on Wednesday where it would formally reverse its' last month decision to reject the financing of Reliance's Sasan power project on environmental grounds.
The Gurgaon-based company, which is in negotiations with Chinese banks, expects to clinch the loans by September.
India's largest initial public offering (IPO), to be floated by Coal India Ltd, is generating enormous interest in the grey market. Investment bankers and stockbrokers that control this unregulated market are already trading CIL shares at a Rs 10-12 premium - even before the price band or issue date have been officially announced.
Consequently, Anil Ambani-promoted Reliance Power will not get any extra gas for its four power plants, including the existing Samalkot power plant in Andhra Pradesh. Senior government officials said the minutes of the meeting of the empowered group of ministers on the New Exploration Licensing Policy had been finalised.
The Union cabinet had approved Coal India's IPO last month, to divest 10 per cent of the government's stake in the Navratna PSU.
Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
In an affidavit filed before the apex court, the government said that the petition challenging the use of coal for projects other than 4,000-MW Sasan Ultra-Mega Power Project was filed on a totally false basis and 'gives a totally misleading and erroneous impression'.
Coal India IPO has become a runaway success, beating all records to become the largest public issue in India.
The company has executed financing agreements for the imported coal fired project, the largest in South India.
Reliance Power (R-Power), a Reliance-Anil Dhirubhai Ambani Group (ADAG) company, is close to finalising a gas-based power plant in Gujarat with a capacity of 7,000 Mw to 8,000 Mw. This would entail an investment of around Rs 30,000 crore, based on investment levels that are normally required for power projects at present.
The Exim Bank of the US denied loan guarantees to Reliance's coal-fired power plant and a mine in India last week, citing adverse environmental impact as the reason.
The IPO grey market premium does not value a company accurately. You may burn your fingers.
Reliance Infrastructure, part of the Anil Dhirubhai Ambani Group, has said the recent Supreme Court order on gas supply to sister firm Reliance Power (45 per cent owned by R-Infra) will not impact its projects.
A short-term (five-year) price is not relevant beyond a point when power plants have a life of 15-20 years, says J P Chalasani, CEO, Reliance Power.
Riding on a strong stock market rally, Anil Ambani-led diversified business conglomerate Reliance Group has crossed Rs one lakh crore market valuation.
Clashing over Reliance Industries's gas field cost, an Anil Ambani group firm on Wednesday questioned the credibility of audits commissioned by the Directorate General of Hydrocarbon, evoking sharp protest from the regulator.
While the merger will see the share of the promoter group increase by two percentage points, the move has also seen a few analysts raise concerns.
Reliance Natural Resources Ltd (RNRL) lost more than a fourth of its market capitalisation in just two days of trading after the Reliance Anil Dhirubhai Ambani Group (R-ADAG) announced its merger with sister firm Reliance Power (R-Power).
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
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