Dubai Reliance Capital, the financial services arm of Anil Dhirubhai Ambani Group, plans to expand its operations in the Middle East, chief executive Sam Ghosh has said.
The promoter group companies controlled by Anil Ambani are expected to buy R-Infra shares from the open market. "The promoters want to control the majority stake in the company to ward off any hostile attack, when corporate rivalry heightens in the country. As the share price of R-Infra is cheaper around Rs 400, the promoters feel that the purchase of shares from the open market would be profitable, boosting the confidence of the shareholders in turn," said sources.
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
The Mayawati-led Uttar Pradesh Cabinet decided to refer the 1,200-acre SEZ proposal to New Delhi as it violated the contiguity norms laid down by it.
Branded Mobi-Retail, this service will be offered to the 35 million subscribers of Reliance Communications, who will be able to use their handsets to buy over 100,000 products ranging from fresh vegetables to groceries, readymade garments, toys etc.
Reliance was the highest bidder at Rs 63 cr for the 5 airports project.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
Litigation, business setbacks, corporate governance issues and a massive funding shortage have left Anil Ambani's companies reeling.
Anil Ambani said on Wednesday his Reliance Group will invest Rs 50,000 crore (Rs 500 billion) in Gujarat in the next 5-7 years on various projects as the firm looks to tap opportunities in the state.
Anil Ambani, chairman of the Reliance ADA Group, on Monday denied that the Securities and Exchange Board of India (Sebi) had banned his two group companies, Reliance Infra and Reliance Natural Resources, or their directors from participation in the capital market for any period.
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
The Cabinet Committee on Economic Affairs on Friday cleared award of four Coal Bed Methane (CBM) blocks to an Anil Dhirubhai Ambani Group-led consortium and three blocks to a consortium led by Australia's Arrow Energy.
Days before US President Barack Obama's high-powered visit here, the US-India CEO Forum has been reconstituted with Cyrus Mistry replacing Ratan Tata as its co-chairman
Reliance Communications could become a much more formidable opponent.
Reliance Communications will invest $60 million in Saudi Arabia to connect the kingdom and other Gulf states with 53 countries around the globe on its fibre optic network and provide value-added services to its network users. \n\n
Modi had last month launched the 'Give-it-Up' campaign.
Petroleum ministry has rejected Reliance Industries Limited's plan to sell natural gas to Anil Ambani Group firm Reliance Natural Resources Ltd at less than half the market price.
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
Riding on a strong stock market rally, Anil Ambani-led diversified business conglomerate Reliance Group has crossed Rs one lakh crore market valuation.
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.
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
The income tax department has sought to prosecute Reliance Group chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.
As the last part of his name ended in 'ni', which is common for Sindhi, everyone thought he was one.
The company has defaulted on some of the payments to lenders and it has received time till December for strategic restructuring plan
Bharti group's Sunil Mittal retained his fourth position, followed by Wipro's Azim Premji at the fifth slot.
The younger Ambani sibling had a two-hour meeting with K V Kamath, chief of ICICI Bank and a friend of the family, who is said to be working out a formula to end the feud at the behest of Kokilaben Ambani.
Gautam Doshi, Surendra Pipara and Hari Nair, senior executives of the Reliance ADA Group who were granted bail on Wednesday by the Supreme Court in the 2G spectrum scam case, will provide major relief to their high-profile boss Anil Ambani.
Decision-making has been very poor, Ambani said.
The success of Anil Ambani's ambitious defence plan will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether the PM can get India's notoriously slow procurement process to work, say Paritosh Bansal, Sanjeev Miglani and Promit Mukherjee.
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
In 2010, R Power acquired 100 per cent economic interest in three coal mining concessions in Indonesia
"Tendulkar's attorney said the cricket player's investment is legitimate and has been declared to tax authorities. Shakira's attorney said the singer declared her companies, which the attorney said do not provide tax advantages. Schiffer's representatives said the supermodel correctly pays her taxes in the UK, where she lives," it notes.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
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