On the eve of the Board meeting of the Reliance group company IPCL, Anil Ambani has stepped up pressure against Anand Jain, a close associate of his elder brother Mukesh, by demanding an 'independent' report on Jain's business dealings with the compa
Billionaire Mukesh Ambani-run Reliance Industries will sell natural gas from its eastern offshore KG-D6 fields to Anil Ambani Group firm's power plant in Andhra Pradesh at government approved rates.
London-based Dar Consultants has said its bid and the one by preferred bidder Anil Dhirubhani Ambani Group's RELINFRA-Hyundai consortium are both 'responsive' or worth considering. Dar Consultants' recommendation puts the responsibility of re-considering the preferred bidder between the warring brothers squarely back with the political executive. The state cabinet's committee on infrastructure will meet Wednesday to decide the fate of the project.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
Forty Indians entered the billionaires' club in the pandemic-stricken 2020 to take the number of those in the coveted list to 177 people, a report said on Tuesday. Mukesh Ambani continued to be the wealthiest Indian with a networth of $83 billion. The head of Reliance Industries witnessed a 24 per cent jump in fortunes and climbed up one spot to be the eighth richest globally, as per the Hurun Global Rich List. Gautam Adani from Gujarat, who has had a spectacular rise in fortunes in the last few years, saw his wealth almost doubling to $32 billion in 2020 and climbed 20 places to be the 48th richest person globally and the second wealthiest Indian.
The younger Ambani sibling, Anil, on Monday sent an emotional farewell message to all the employees of Reliance Industries, from where he stepped down as vice chairman and managing director.
The Indian bourses on Monday pared all its gains and slipped into the red towards the end of the trading session owing to weakness in the metal and realty stocks.
In what could seal the fortunes of the gas and power businesses of the two Ambani brothers, the Supreme Court is to deliver a judgment tomorrow on the bitterly fought dispute over gas from the Krishna-Godavari basin's D6 block.
Pictures from the party.
Reliance Infocomm chief Anil Ambani is understood to have raised a number of issues, including interconnection in telecom
Rohatgi was in June, 2014 appointed as the country's chief law officer for a fixed three-year term.
No comments could be obtained from the spokespersons of either Reliance Industries Limited or Anil Dhirubhai Ambani Group.
The most marked development of the year was the Rs 10,000 crore (Rs 100 billion) Satyam financial scam, disclosed by the founder B Ramalinga Raju, forcing the government to redraft rules for corporate governance and auditing standards.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Following the heated exchanges, the bench rose early for the day, to resume the hearing on Tuesday. The schedule of hearing was changed and according to the current estimate, it will end by mid-December, just before the year-end holidays.
The Ambani brothers on Saturday reached a settlement to split between themselves, assets of India's largest private sector conglomerate, with over Rs 97,000 crore (Rs 970 billion) in revenues, founded by their late father Dhirubhai.
The Supreme Court on Thursday expressed its inability to commence final hearing of the gas dispute between the Ambani brothers from September 1, but said it would try to give an early date.
Commercial services may start in Mar-Apr next year
The potential entrants include the Essar Group, Punj Lloyd, Larsen & Toubro, real estate developer Atlanta, Hyderabad-based Nagarjuna Construction and Delhi-based DS Constructions.
Both Goyal and Mallya had figured in Forbes' annual list of world's billionaires published earlier last month, where Mukesh and Anil Ambani were named as two richest in India. According to Forbes, Goyal's fortune is valued at $ 1.4 billion, while that of Mallya is $ 1.2 billion. Naresh Goyal and Vijay Mallya are both vying for dominance of Indian skies. The are the only Indian names on the list. It also includes the feud between Russia's Vladimir Potanin and Mikhail Prokhorov
The Ambani brothers are not yet ready to bury the hatchet. Legal counsels of both the parties say they are ready to fight it out in the court next week. The case is scheduled to come up for hearing on 12 January.
The Board of Control for Cricket in India will on Thursday announce the winning bids for the eight Mumbai-based franchisee teams that will take part in the forthcoming Indian Premier League.
The latest list of richest Indians, compiled by Forbes magazine, has named 23 billionaires from Mumbai. Delhi accounts for only 12 such people. Among top five richest Indians living in India, two are from Mumbai and two from Delhi. But, Mumbaikars enjoy higher ranks than the Delhiites.
Read the full text of the Supreme Court ruling in the Krishna Godavari Basin gas dispute between Mukesh Ambani-led Reliance Industries Ltd and Anil Ambani's Reliance Natural Resources Ltd.
Having ended a bitter feud with elder brother Mukesh over control of the Rs 100,000 crore (Rs 1000 billion) Reliance empire, Anil Ambani, has embarked on a pilgrimage.
The peace plan rolled out by the Ambanis last week was lapped up without any questions by investors, but the deal to split the Reliance business empire has drawn reactions ranging from anger, indifference to even sadness from an unlikely quarters --
Welcoming the settlement of the ownership battle between Ambani brothers Mukesh and Anil, Industry on Saturday said the amicable resolution of the dispute would boost capital markets and uplift the morale of investors.
Expressing happiness over the settlement reached between the Ambani brothers on the Reliance ownership issues, the government on Saturday said both Mukesh and Anil have the capacity and wisdom to build large businesses under their separate leadership
Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
Mukesh Ambani's Jio, high debt and some bad decisions drove RCom to its grave.
The pictures may not be out yet, but Kiara Advani and Sidharth Malhotra's wedding is reportedly in full swing.
Mukesh Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
The other developers are from across the globe, including players from Dubai, Europe and Asia.
For every Rs 5 lost by the Ambanis in the past one year, approximately Rs 4 have been eroded from the coffers of their public investors also on an average, according to an analysis.
The Bombay High Court will hear on November 25 the petition filed by Reliance Industries Ltd seeking the court's approval of a scheme to demerge the company into four new entities as part of a settlement reached between Ambani brothers.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
Moving a step further in effecting the settlement between the Ambani brothers, Reliance Industries, headed by elder sibling Mukesh, has filed the demerger scheme in the Bombay high court seeking approval.
IT major HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
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