Within 24 hours of the brothers Ambani deciding on a ceasefire, the stock market and Reliance pundits are out with their calculators to figure out the financial implication of ending the non-compete terms five years in advance and the loss that Anil Ambani's Reliance Natural Resources Limited would incur post the Supreme Court verdict.
The country's most valued firm RIL's bid to acquire a majority stake in bankrupt petrochemical group was called off by LyondellBasell after the latter found the price offer was undervaluing the company.
As if rejecting the truce offer made by Anil Ambani to estranged brother Mukesh, Reliance Industries Limited sources on Sunday said this was yet another attempt to present corporate dispute as a family feud.
Lok Sabha MP Harsh Vardhan on July 23 wrote to Petroleum Minister Murli Deora asking why the government had kept quiet for all this while on the Ambani family MoU that provides for dividing Krishna-Godavari basin gas between companies run by brothers Mukesh and Anil.
Anil Ambani's Reliance Natural Resources continued its attack on the government for allegedly favouring brother Mukesh Ambani's Reliance Industries Ltd on the sale price of gas from the Krishna Godavari D6 basin. At $4.2 per million British thermal unit (mBtu), the price fixed, there is a premium of more than 100 per cent over the gas available through the administered pricing mechanism, it said.
To launch in BIG Cinemas in India, abroad. Brother Mukesh Ambani might be the king of retail, but Anil Ambani's ADAG is getting ready to make its presence felt in branded food products
The Kapoors prayed for the matriarch at a chautha.
The nation is now home to 52 billionaires, up from 27 last year and only two short of what India had at the peak of its stock market boom in 2007.
The Anil Ambani group, fighting a legal battle for securing 28 mmscmd gas for Reliance Natural Resources from RIL at a price of $2.34 per mmBtu under a family settlement, had last week questioned the marketing margin and had informed RIL that it would not pay the same.
Anil Ambani's Reliance Natural Resources Ltd is laying claim (through a family agreement prior to the group's split) to gas from estranged brother Mukesh Ambani's Reliance Industries Ltd at a fixed price of $2.34 per mBtu
They exchanged wedding vows as per Catholic tradition at the Umaid Bhawan Palace in Jodhpur.
Just a day before Shabana Azmi met with a road accident on January 18, she was celebrating husband Javed Akhtar's 75th birthday bash with the rest of Bollywood. And it was a full house, as *everyone* came forward to pay their salaams to one of Bollywood's leading writers and poets.
The division bench of Justices J N Patel and K K Tated would continue to hear the case, though Justice Tated was transferred to Aurangabad bench of the High Court last week, high court sources said. The case is likely to come up for hearing on January 12, RIL lawyers said.
RIL is on its way to becoming a global hydrocarbon major with a larger petroleum refinery and sizable upstream business.
Quoting an unnamed person familiar with the talks as saying that MTN and RCOM could extend their exclusive talks for another two to three weeks after the 45-day period expires tomorrow, the report said, 'there is no indication that extra time alone would be sufficient to resolve the feud' between Anil and Mukesh Ambani. The deal, if fructifies, could create a combined entity worth about $70-80 billion, which would be one the world's biggest emerging market telecom firm.
'Tata may have sensed that the suddenness of the decision to replace Mistry would become controversial and it was proper to keep the prime minister informed of the decision,' says A K Bhattacharya.
Within days of a truce with younger brother Anil, Asia's richest man Mukesh Ambani will address shareholders of Reliance Industries on Friday and is expected to announce mega investment plans, possibly in power and telecom sectors.
The power sector has been notorious for missing capacity addition targets and it remained just that in 2008.
Will Narendra Modi bring to his appointment the vision and stature that the PM's job requires? Will he prove the worst fears of his detractors wrong, wonders Malavika Sangghvi
Mukesh Ambani controlled Reliance Industries fears that gas supplied to Reliance Natural Resources, belonging to younger brother Anil Ambani, would be traded to a third party as RNRL does not have a power plant, said Harish Salve, the legal counsel of RIL.
The stock market rout has caused the country's five richest, led by Reliance Industries Chairman Mukesh Ambani, to lose more than $10 billion in just about a fortnight.
The political row over the Rafale deal intensified on Tuesday with the Congress and Bharatiya Janata Party trading barbs over it.
The Pune-based Rahul Bajaj group, thanks to an amazing stock market ride by Bajaj Finance and Bajaj Finserv, has grabbed third spot, pushing the Aditya Birla group down to fourth position.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
With a package close to Rs 25 crore (Rs 250 million), Mukesh takes home over 10 times the annual remuneration of his brother Anil, with whom he parted ways over two years ago.
A Bench headed by Justice S H Kapadia, while setting aside the high court order, directed Reliance Energy to submit its financial bid for the project within three months.
The agreements between the four new companies transferred to Anil Ambani and his elder brother Mukesh's flagship company Reliance Industries may become the bone of contention.
Jahnavi Mehta. Kaviya Maran. Preity Zinta.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
Reliance Industries Ltd -on Saturday authorised its board committee to suggest a 'suitable scheme' of reorganisation in the wake of the settlement of ownership issues between the Ambanis.
Market regulator Securities and Exchange Board of India on Wednesday said it will take appropriate action on complaints filed by Reliance Industries' vice chairman and managing director Anil Ambani
The role and responsibility of Anil Ambani as vice chairman and managing director of Reliance Industries appears to have become another source of acrimony between him and his elder brother Mukesh Ambani
Siding with Reliance group chairman Mukesh Ambani, the board of the flagship company RIL on Wednesday rejected objections raised by his younger brother and vice chairman Anil
Mukesh's television unit has been aggressively wrapping up deals with hundreds of small players in a street-by-street effort to conquer that final hurdle in its cable TV drive
Besides seeking damages worth Rs 10,000 crore (Rs 100 billion), Anil Ambani has demanded an apology from elder brother Mukesh and others named by him in a defamation suit filed in the Bombay high court.
The company bid Rs 1,104 crore for a 7.5 hectare plot in the upcoming Bandra-Kurla Complex area.
