Reliance Power (R-Power), which raised over Rs 12,000 crore (Rs 120 billion) in India's biggest initial public offering in January, will consider issuing bonus shares to its shareholders, excluding the promoter group.
Consequently, Anil Ambani-promoted Reliance Power will not get any extra gas for its four power plants, including the existing Samalkot power plant in Andhra Pradesh. Senior government officials said the minutes of the meeting of the empowered group of ministers on the New Exploration Licensing Policy had been finalised.
Rejecting the Ambani family agreement on gas, the government on Friday said a private pact cannot be allowed to threaten national interests and asked the Supreme Court to make it a party in the ongoing case between the group firms of Anil and Mukesh Ambani.
It is a tale of two deals: One completed and the other, announced and later aborted.
India's leading businessmen attended the grand banquet organised to honour US President Barack Obama at the Rashtrapati Bhavan.
India's largest companies are making inroads into one of the country's most ancient businesses - the purchase of gold by the nation's hundreds of millions of women for weddings, festivals and savings.
The loan is funded by a consortium of banks led by Australian and New Zealand Banking Group Ltd, BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS Bank Ltd and Intesa Sanpaolo Spa, RCom said in a filing to the Bombay Stock Exchange.
Tata group firm Trent Ltd on Friday said Anil Ambani-promoted Reliance Capital has bought 8.68 per cent stake in it for Rs 21.2 crore (Rs 212 million), marking ADA Group's entry into the retail sector.
The Forwards Markets Commission has been working on preventing any possible conflict of interest a promoter of a commodity exchange may have between their roles of running the exchange and other businesses such as broking and trading. "So far, we had two rounds of meeting in this regard. We are resolving the issues and guidelines would be finalised by the end of October," said FMC Chairman B C Khatua.
The complaint was made to the Prime Minister's Office by lawyer Suren Uppal alleging that the Essar Group had ordered its former security chief Albasit Khan to tap into its business rivals' telephone conversations.
Mukesh Ambani has left 'all settlement issues' to her. A spokesperson said on Saturday night that Mukesh would abide by whatever decision she takes.
State govt aims to make Hyderabad a 4G WiFi-enabled city by December.
The Ambanis are ranked 31 ahead of the likes of global soft drink giant PepsiCo CEO Indra Nooyi and music-to-airlines conglomerate Virgin Group's founder Richard Branson.
With increasing corporatisation of Indian television, creativity is being backed by professional management. The growth potential is huge.
Ambani siblings' war intensified on Saturday with the younger Anil's group warning to retaliate in case Mukesh-led Reliance Industries goes legal with its claim on the potential multi-billion dollar amalgamation deal that the former is pursuing with South African telecom giant MTN.
Last month, the Bimal Jalan panel, which scrutinised applications for new bank licences, submitted its report along with shortlisted entities to the RBI.
The Department of Telecommunications has called a meeting of the heads of all leading telecom companies offering GSM technology services on November 21 to resolve contentious issues that have arisen following recent changes in telecom policy.
As the situation was limping back to normalcy in Andhra Pradesh a day after unprecedented violence and attacks on the offices and retail outlets of both the rival Reliance groups, the state government booked a criminal case against a Telugu news channel TV5 for carrying an unverified report linking the names of Mukesh and Anil Ambani to the alleged foul play behind the death of former Chief Minister Y S Rajasekhara Reddy in a helicopter crash in September last year.
Anil Ambani-led Reliance Power's board will on July 4 consider merging another group firm Reliance Natural Resources with itself.
The Jio-Bharti battle will not just be limited to mobile telephony but will extend to the fibre to home space too.
The group has lined up close to a dozen projects, which will take the company's installed capacity to around 18,000 mw.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
Delhi HC has refused to stay the process of spectrum allotment to RCom, giving a major setback to GSM operators.
Azim Premji, the chairman of Bangalore-based software giant Wipro, is the richest Indian with a wealth worth Rs 31,198 crore (Rs 311.98 billion).
When contacted, REL Investors Forum Secretary 'Veekay', whose name was mentioned on the release along with two other persons -- Prakash Krishnan and Anil Upadhyaya -- told PTI that the forum members include 60-70 shareholders of REL. Investors in REL are feeling cheated with ADA group company RPL's proposed public issue, it noted.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
Taking forward the promised consolidation of its telecom businesses, the board of Anil Ambani-controlled Reliance Communications Ventures Ltd would meet in Mumbai on Sunday to consider merger of Reliance Infocomm with itself.
Videocon plans a foray into the direct to home business. The company has applied for the DTH licence and is expected to start services by next year, government sources said.
What do you think will happen to the Reliance Group now? Will the family split? Or will the brothers unite to emerge stronger than ever? Tell us.
The scrutiny is expected to be over this month itself.
In a major blow to Reliance Energy's plans to expand its business in power sector, the Central Electricity Regulatory Commission has rejected the application of the Anil Ambani-controlled company for a transmission licence.
On August 21, the division bench had suggested that the two warring sides should seek the help of their mother Kokilaben Ambani to resolve the issue. The billionaire brothers are fighting over supply of natural gas from RIL's eastern offshore KG gas fields.
A family priest performed the prayers as per Parsi tradition before the last rites.
Over a dozen private players, including Anil Ambani-promoted Reliance Energy Ltd (REL), real estate giant DLF and infrastructure majors GMR and L&T, are understood to have bid for modernisation of Udaipur airport.Other bidders in race for the project include Soma Constructions, L&T and Gammon India, besides Dubai-based ETA, the sources added.
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