The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
The group's telecom arm, RCom, saw its shares plunge by 8.11 per cent to a low of Rs 71.35 in morning trade, while Reliance Capital tumbled by 9.91 per cent to a 52-week low of Rs 323.55 on the Bombay Stock Exchange.
Dubbing as "most unfortunate" the advertisement campaign against it by the Anil Ambani group, the government on Friday hit back, saying the propaganda was unleashed on a sub-judice matter.
Anil Ambani Group company has offered a bank guarantee and indemnity bond for the aircraft, but the Customs officials have that said that it is not possible without the seizure notice.
After acquiring 200 theatres in America the Anil Ambani group, on Sunday will now co-produce Hollywood films, a territory which until now was dominated by UTV. Some of the films benefitting from the Reliance alliance is Nicolas Cage's Saturn Productions, Jim Carrey's JC 23 Entertainment, George Clooney's Smokehouse Productions, Chris Columbus 1492 Pictures, Tom Hanks' Playtone Productions, Brad Pitt's Plan B Entertainment and Jay Roach's Everyman Pictures.
Reliance Power clarifies that Amitabh Jhunjhunwala, arrested in a money laundering case, has not been associated with the group since 2019. The case involves alleged bank loan fraud through Reliance Group companies.
Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.
Rahul has singled out Anil Ambani several times for winning the Rafale defence contract from the Narendra Modi government, alleging favouritism and corruption.
Sources said that the Malaysian prime minister invited Ambani to invest in sectors like power, media and financial businesses.
Reliance Group chairman Anil Ambani is reviewing "appropriate" options after the Securities and Exchange Board of India (Sebi) banned him from the stock markets and imposed a Rs 25-crore fine for alleged fund diversion from Reliance Home Finance (RHFL), a former subsidiary of Reliance Capital. In a statement, a spokesperson for Ambani said he had resigned from the boards of Reliance Infrastructure and Reliance Power pursuant to the Sebi interim order dated February 11, 2022.
A Delhi court has granted the CBI's request to produce Amitabh Jhunjhunwala, a former executive of Reliance Anil Ambani Group (RAAG), before a Mumbai court in connection with an alleged bank loan fraud-linked money laundering case.
Ambani flew to Badrinath, which reopened to the public today, from Dehra Dun in a helicopter to pay obeisance to Lord Badri.
With the listing of Reliance Power, the market cap of Anil Ambani group aggregated to Rs 307,112 crore (Rs 3,071.12 billion), almost Rs 100,000 crore (Rs 1,000 billion) below expectations of Rs 400,000 crore (Rs 4,000 billion) capitalisation.
Last month, then Delhi Chief Minister Arvind Kejriwal had ordered a CAG scrutiny of private power distribution companies.
According to one calculation, Reliance Power IPO is likely to gain close to $27 billion for Anil Ambani, which when combined with the existing market capitalisation of his companies will work out to be close to $75 billion!
Anil Ambani, chairman of the Anil Dhirubhai Ambani Group, has shown interest in meeting the West Bengal chief minister separately, ahead of the investors' meeting slated for June 18.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
The ADA Group's recent decision to sell a stake in Reliance Communications and merge its telecom tower business with GTL Infra will help it reduce a mounting debt burden.
The entire CBI investigation is veering around how, when, why and under which terms and conditions Shahid Balwa became a frontman for A Raja!
Multiple residential units are being developed for housing senior executives of Reliance Anil Dhirubhai Ambani group at a plot in Pali Hill of Bandra.
The Anil Dhirubhai Ambani Group on Thursday announced it that would build the world's largest next generation under-sea cable network with an investment of $1.5 bn (about Rs 7,000 crore) over the next three years.
Stickers defaming industrialist Anil Ambani and his Group ADAG were found pasted at various locations in suburban Bandra.
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
Finance Minister Pranab Mukherjee's Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani's dream of entering the banking sector.
The Anil Ambani group on Friday said that it has identified the stockbrokers behind the spread of malicious rumours and 'baseless sensational charges' against it and sought immediate action by the Securities and Exchange Board of India against the perpetrators.
Forex and money transfer firm Wall Street Finance, which has an Anil Ambani group firm as its top shareholder, today said it is looking for acquisitions in the US, the UK and European Union to expand its overseas presence.
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
The Reliance Anil Ambani group is believed to have decided to enter the commodity trading business by setting up a large exchange in the country as part of its plans to capitalise on the vast opportunities in this market.Kotak group is also mulling over setting up a commodity bourse by acquisition of some regional exchange to get the platform and other technical support, sources close to the development said.
There is nothing much for Anil Ambani group firm Reliance Natural Resources Ltd to renegotiate with Reliance Industries Ltd, as the price and quantity of gas it is seeking will be dictated by the government policy and the tenure of supply will depend on life of the fields.
Markets regulator Sebi has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market including as a director or Key Managerial Personnel (KMP) in any listed company, or any intermediary registered with the market regulator, for a period of 5 years.
Anil Ambani has interests in power, telecom and other infrastructure sectors.
Clashing over Reliance Industries's gas field cost, an Anil Ambani group firm on Wednesday questioned the credibility of audits commissioned by the Directorate General of Hydrocarbon, evoking sharp protest from the regulator.
Ambani remained at the CBI headquarters for nearly two hours in connection with the agency's investigation into the 2G scam. The media was told he went to the CBI HQ because the Bureau had sought clarification on certain documents relating to Swan Telecom -- one of the companies allegedly involved in the 2G scam. But couldn't one of his company directors have gone instead to explain?
The FIR was lodged by the Lucknow Gurudwara Prabandhak Committee after an emergent meeting held in Lucknow on Monday, official sources said on Tuesday.
In a free-wheeling interview with Jyoti Mukul, Sibal makes a case for his innocence and blames the media campaign by the Anil Ambani group for the current controversy.
Anil Ambani Group never sought clarification before bids closed, says DGH.
The Bombay Stock Exchange on Tuesday said no rule was overlooked while deciding to include the company in the Sensex - the elite index of top 30 companies - in place of Tata Power.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances