BCCI ethics and ombudsman, served a notice to Ambani after receiving a complaint from former MPCA member Sanjeev Gupta.
He also described Moily as Mukesh Ambani's agent.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
Oil Ministry officials insisted that Defence Ministry cannot withdraw the clearance after 12 years of exploration.
IndusInd Bank was the top gainer in the Sensex pack, rising nearly 6 per cent, followed by Axis Bank, SBI, Maruti, Tech Mahindra and Reliance Industries. NSE Nifty surged 183.70 points to close at 17,166.90.
The total capacity of gas-based stations in India is 18,830 MW of which 15,529 MW is fed with gas from RIL.
Norway-based Aker Solutions, appointed by ONGC to explore the possibility of sharing RIL's infrastructural facilities on the East Coast, is expected to submit its final report next month, sources close to the development said.
RIL should wait-and-watch before investing in telecom sector.
The 50-share NSE Nifty settled up 28.15 points, or 0.27 per cent, at 10,326.90 after shuttling between 10,358.70 and 10,315.05.
RIL is understood to be the first major Indian enterprise to participate directly in a global oil futures market, emphasising the trend of continued growth in Asian oil production.
Reliance Industries, India's most valued company, and state-run gas firm GAIL India have identified 10 countries including Qatar, Australia and Russia for setting up a multi-billion-dollar petrochemical plant.
RIL has proposed to charge the government- fixed rate for natural gas on a gross calorific value (GCV) basis, instead of net calorific value (NCV).
The Directorate General of Hydrocarbons wants the government to get a share of the $0.135 per million British thermal units marketing margin RIL charges over and above the government approved gas price of $4.205, sources privy to the development said.
The Cabinet on Thursday decided to allow Reliance Industries to almost double the price of natural gas from April provided the firm gave a bank guarantee to cover its liability if gas-hoarding charges are proved.
Until now, the compensation for non-executive directors was just Rs 21 lakh.
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
The purchase is through RIL's wholly-owned subsidiary Reliance Industries Investment and Holding Private Limited, from Oberoi Hotels Private Limited and certain other promoters of EIH Limited, RIL said in a statement.
Commenting on the EGoM decision regarding supply of KG gas to upcoming power projects, RIL counsel Harish Salve said, "Government has no right to allocate gas." He clarified that his client was opposed to this stand of the government.
RIL also reported measures taken to check falling output in the KG-D6 field.
RIL had in February last year submitted a revised field development plan for the MA oilfield, which has been producing crude oil since September 2008.
Reliance had committed to drill 22 wells in the Dhirubhai-1 and 3 fields or D1, the largest of 18 gas discoveries in the block KG-DWN-98/3 or KG-D6 block in the Bay of Bengal, by April 2011 to produce 53.4 million standard cubic meters of gas per day (mscmd).
Oil and Natural Gas Corp is in talks to hire Reliance Industries' unutilised production facilities on the east to quickly bring to production its gas finds in the Krishna Godavari basin.
Owing to a big rise in the market capitalisation of group companies such as Adani Green Energy and Adani Transmission, the group promoters, the Gautam Adani family, have closed the wealth gap with Mukesh Ambani, the promoter and owner of Reliance Industries Ltd (RIL). Ambani continues to top India's billionaire league table. The Ambani family's net worth was estimated to be Rs 8.06 trillion (around $108 billion) on Tuesday against the Rs 6.87 trillion (around $92 billion) of the Adani family.
The Prime Minister's Economic Advisory Council has approved Reliance Industries' 4.33 dollars per mBtu price of gas from KG-D6 fields, saying it was in line with industry practices.
While a new formula for pricing of all domestically produced natural gas was notified on January 10 and published in Gazettee on January 17, the Election Commission last month asked the government to defer its implementation till general elections are completed.
NTPC, India's largest thermal power operator, said it will stay away from the ongoing Reliance Industries and Reliance Natural Resources case in the Bombay high court over the supply of KG Basin gas.
Could get $8.4 per mmBtu from April 2014 by furnishing bank guarantee that would be encashed if D1, D3 gas hoarding proved
Sebi was probing a complaint by S Gurumurthy of Swadeshi Jagran Manch, alleging that RIL and its investors lost at least Rs 2,700 crore.
Sources close to the development said RIL, which was planning two adjacent economic zones in the coastal district of Raigarh in Maharashtra, is looking to set up three special purpose vehicles (SPVs) to develop the various components of the project.
State-run banking giant SBI has said it temporarily exceeded RBI-prescribed credit exposure limit for the fourth year in a row in 2011-12 with regard to loans given to Mukesh Ambani-led Reliance Industries (RIL).
Reliance Industries' eastern offshore KG-D6 gas field has seen output drop to 29 million units a day, against a planned 80 million units, causing acute shortage in power generation, Oil Minister S Jaipal Reddy said on Tuesday.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
RIL shares attracted good buying support in a bullish market and closed up by 4.80 per cent at Rs 754.05 a piece on the Bombay Stock Exchange.
Justice Markandey Katju recused himself from the matter saying his wife held shares of Reliance Industries.
It is also understood that scope of this audit will far exceed the normal course of audit by CAG and the prime objective may be to detect fraud, if any, by RIL allegedly in collusion with oil regulator DGH and Ministry of Petroleum and Natural Gas.
RIL on June 15 wrote to Oil Ministry proposing to price natural gas it produces from the Krishna Godavari basin block in Bay of Bengal at a rate equivalent to price India pays for importing liquefied natural gas, official sources said.
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.
Softening its stand on CAG audit, Reliance Industries has agreed to a scrutiny of its expenses in the flagging KG-D6 gas block by the official auditor even after expiry of the contractual period.
The RIL board had last month approved 1:1 issuance of bonus shares after a 12-year hiatus. The last time RIL announced a bonus issue was in October 1997.
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