The Enforcement Directorate conducted searches at multiple locations in Mumbai and Hyderabad as part of an investigation against Reliance Power Ltd., a group company of Anil Ambani, concerning alleged money laundering and financial irregularities.
The top-tier ISL will feature 91 matches on a home-and-away basis.
The Enforcement Directorate on Friday questioned Jai Anmol Ambani, son of industrialist Anil Ambani, in Delhi in a money laundering case linked to an alleged bank loan fraud, officials said.
'With the exception of any additional slot(s) allocated to a Member Association in accordance with Articles 3.4 and 3.5, Member Associations that fail to fulfil the Member Association Eligibility Criteria shall, subject to Article 4.4, be eligible to be allocated only indirect slots for the relevant AFC Club Competition.'
13 clubs have confirmed for truncated ISL, AIFF hoping for Odisha FC to join: sources
The Reliance Centre, a guesthouse and some residential assets in Mumbai, apart from 231 plots of land in Chennai, are among the fresh assets worth Rs 1,120 crore attached by the ED as part of its ongoing money-laundering probe against the companies of Reliance Group chairman Anil Ambani.
The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be "fake".
IPOs have been the flavour of the season for some time. But the coming together of three mega IPOs, from diverse businesses and historic relevance, could tell a story that's still in the making, points out Nivedita Mookerji.
Reliance Defence and Germany-based Rheinmetall have agreed on a 'strategic partnership' in the field of ammunition, officials on Thursday said.
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.
Reliance 4IR Realty Development, a unit of Mukesh Ambani's Reliance Industries, paid a Rs 86.5 crore 'development fee' to license the Trump brand for a forthcoming real estate project in Mumbai.
Reliance Defence, promoted by Anil Ambani's Reliance Infrastructure, has partnered with German arms manufacturer Rheinmetall AG to produce ammunition in Maharashtra's Ratanagiri. As part of the agreement, Reliance Defence will supply the explosives and propellants for medium and large caliber ammunition to Rheinmetall.
Reliance Jio said certain tariff plans will continue to give subscribers free streaming access to IPL 2025.
With 90% of the inventories sold out, JioStar expects to ring in more than a 58% increase over last year's IPL, when it clocked Rs 3,900 crore.
The Supreme Court on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007. A bench of Justices J B Pardiwala and R Mahadevan said it was not inclined to interfere with the order passed by SAT.
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
The Insolvency and Bankruptcy Board of India (IBBI) has lifted the restriction to allow the same insolvency professional for the resolution process of a company as well as its personal guarantor for a better harmonisation and effective coordination of both processes. The changes made to IBBI - Bankruptcy Process for Personal Guarantors to Corporate Debtors, Regulations, 2019 -- came into effect on January 31. IBBI has also amended the provision regarding the meetings of the Committee of Creditors to make them mandatory in insolvency matters about personal guarantors.
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy met business tycoons Mukesh Ambani of the Reliance Group, Naveen Jindal of Jindal Steel, G M Rao of the GMR Group, founder-chairman of Cyient B V Mohan Reddy among others at the Global Investors Summit 2023 'Advantage Andhra Pradesh' in Vishakapatnam, March 3, 2023.
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd's chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the entities appealed before the tribunal against the order passed by the Securities and Exchange Board of India (Sebi) in January 2021. In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's chairman and managing director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
Meaningful market share would go to those who have the distribution strength to push their products, such as banks.
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
Given the hydrogen connection, it's ironic that Hindenburg Research released a long report, accusing the Adani group of financial manipulation, observes Devangshu Datta.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
'It's a clear case of political patronage helping an individual grow.'
Listed companies of the Kishore Biyani-led Future group on Saturday informed exchanges about meetings of their respective shareholders and creditors being convened on April 20 and 21 to get their approval for the Rs 24,713-crore deal with Reliance Retail. Listed entities, including Future Enterprises Ltd, Future Retail Ltd, Future Consumer Ltd and Future Supply Chain, informed exchanges about dates and other procedures for the virtual meetings of shareholders and creditors. The meetings are held virtually through video conferencing and other audio-visual means, the addendum notice added.
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
French sources say Hollande was motivated to speak out after an Indian media report revealed that the Reliance Group had part-funded a film venture by his domestic partner, French actress Julie Gayet.
In a fresh twist in the fight to gain supremacy in the Indian retail market, billionaire Mukesh Ambani's Reliance Retail has slapped notices on Future Retail for terminating sub-leases of 950 stores it had taken over previously. In stock exchange filings, the Kishore Biyani-led debt-laded Future Group firms said they have been served notices to terminate the lease of 835 Future Retail stores and 112 Future Lifestyle stores. Last month, Reliance Retail had taken over store spaces for which the Future Group couldn't pay lease rent. These were then sub-let to the Future Group for operation.
Rahul has singled out Anil Ambani several times for winning the Rafale defence contract from the Narendra Modi government, alleging favouritism and corruption.
The contract was cancelled two weeks ago due to the delay in the delivery of the vessels, sources said. The contract to build five warships was signed with the company in 2011, much before the Reliance Group took over the Gujarat-based shipyard from its erstwhile owner Nikhil Gandhi.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
While Amazon is expected to approach either Mumbai or Delhi high court to enforce the interim order of SIAC, the Future Group, too, is likely to challenge the order. Legal experts also expect the Reliance group to expedite the process for regulatory clearances in the deal.
Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
The Group has decided to withdraw the Rs 5,000-crore civil defamation suits against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of 100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of 100 million and will invest an additional 25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
Reliance's big-bang entry across the solar ecosystem will cut dependence on Chinese imports drastically. And Ambani's repeated emphasis that RIL's new energy foray will be 'a truly global business' points that his group is playing not just for a share of the Indian pie but to be the OEM in the larger 5,000 GW global market by 2030, points out Shailesh Dobhal.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
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