While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
The Mumbai Cricket Association (MCA) has sought NCP chief Sharad Pawar's advice on conducting its AGM amid the COVID-19 pandemic and resumption of the game in the city. Pawar is a former chief of the MCA, BCCI and the ICC and his party is also part of the present Maharashtra government led by Chief Minister Uddhav Thackeray.
The order, which set aside the August 9 ruling of a single-judge bench, prevented the group entities from publishing the voting results of the last AGM. However, the firms will now be able to execute decisions taken at the AGM last year. People in the know said the Birlas would appeal against the order in a higher court.
"I've no rival in the CAB, everyone is my friend here. There are new and experienced people here to run the show. I'll also be around and they will get me at times," he added before leaving the Garden.
"There needs to be more life in the wickets at home so that our teams would not have the problem of adjusting when travelling abroad, like in Australia, where there is more pace and bounce,"
Chahal was facing multiple allegations with the primary one being, the enrolment of illegal voting members without consent from the Apex Council.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
"Don't forget that there is an ICC chairman's nomination to be filed on October 20. Whether the powerful people in the BCCI have a change of heart, is the question," he said.
Australia signal Warner ban to be revoked after integrity code review
Secretary XI beats President XI in friendly on eve of AGM meeting.
The following is the timeline of the chain of events that led to the suspension of the Wrestling Federation of India by UWW, the sport's global governing body.
Shareholders bid adieu to the co-founder and chairman who will retire in August.
Even as the corporate battle over Zee Entertainment Enterprises (ZEEL) has reached the Bombay high court, another Essel Group firm - Dish TV India - is gearing up for a legal battle with YES Bank by planning to move the National Company Law Tribunal to appoint six of its nominees on the board of the loss-making company. While Dish TV said YES Bank has acquired 26 per cent stake by invoking the pledged shares of Essel Group promoter, it also said YES Bank must make an open offer to shareholders of the company, according to the Securities and Exchange Board of India (Sebi) takeover code. This, as YES Bank is seeking to take control of the company, said Dish TV.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
The Madras high court however directed the BCCI to consider an application from the Cricket Association of Pondicherry for associate membership at the meeting.
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
The US drone strike that killed Al Qaeda chief Ayman al-Zawahiri on the balcony of a safe house in downtown Kabul points to the use of secret Hellfire missiles by the CIA as there was no explosion and, according to American President Joe Biden, "no civilian casualties" either.
Taking to Instagram Stories, Anushka shared the screenshot of BCCI secretary Jay Shah's tweet and reacted to the post with three clapping emojis. The actor is set to play former pacer Jhulan Goswami in the upcoming film "Chakda Xpress".
With RIL entering a new growth phase in telecom and retail, gen-next, say RIL executives, could soon be seen holding the reins of the firm, assisting their father, Chairman Mukesh Ambani.
The selection committee, headed by MSK Prasad, is nowhere close to completing its tenure as per the new BCCI constitution, but new Board president Sourav Ganguly will decide whether the panel will complete the mandated five years in office.
The Board of Control for Cricket in India, on Tuesday, decided to hold its much-delayed Annual General Meeting on December 17 even as it stood firmly behind embattled president-in-exile N Srinivasan after he was cleared of IPL fixing charges by the Supreme Court-appointed probe committee.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
Jay Shah replaces Bangladesh Cricket Board (BCB) chief Najmul Hasan Papon.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
Former India captain Anil Kumble and speedster Javagal Srinath on Sunday staged a walk-out from the Annual General Body meeting of the Karnataka State Cricket Association (KSCA) alleging misuse of funds by the current set-up.
This is Sourav Ganguly's second term in office after he became CAB president in 2015 following the death of Jagmohan Dalmiya.
The government on Monday said there is sufficient wheat stock in the country and that it will take action against hoarders, if needed, to boost domestic supply. The Centre may consider steps like asking for disclosure of wheat stocks by traders and imposing stock limits to augment domestic availability. Addressing the 82nd AGM of Roller Flour Millers Federation of India, food secretary Sudhanshu Pandey said there is no problem of wheat in the country and the Centre has 24 million tonne of wheat in godowns of state-owned FCI. The secretary pointed out that wheat prices have gone up due to "speculative trading".
It was more more entertaining that Comedy Nights with Kapil
Australia's winter sports community has been forced back into mourning with the sudden death of 20-year-old Olympic figure skater Ekaterina Alexandrovskaya in Moscow.
Earlier, at the AGM of 2016, shareholders had approved his appointment for a period of three years with effect from February 5, 2017
The junior Ambanis - Anmol and Anshul - were inducted on the board to respect the wishes of the shareholders who during the recent AGM asked the management to get fresh blood into the company by bringing them on board.
Former India batter VVS Laxman will be the next head of the National Cricket Academy (NCA), a senior BCCI official confirmed on Sunday.
BCCI secretary Jay Shah took to his official Twitter handle to announce the historical development.
Board of Control for Cricket in India secretary Anurag Thakur says former president Narayanswami Srinivasan will continue as ICC chairman till September after which the Board will chalk out a way forward at its Annual General Meeting.
Fearing legal repercussions, N Srinivasan refrained from staging a comeback as Board of Control for Cricket in India president but attended the Board's working committee meeting which decided to have its crucial Annual General Meeting on September 29 in Chennai.
'All of us tend to believe that they are so well paid, why should we bother about their payments.' 'But who all are well paid? Only a handful, maybe 3-4 of them, who go in for endorsements and things.' 'The others are struggling, playing Ranji Trophy and other matches, so that compensation we made it market-oriented.'
