R-Cap, part of the Anil Dhirubhai Ambani Group, may get a controlling stake in the venture if the negotiations fructify.
The CBI contended before the Delhi high court on Tuesday that there were glaring illegalities in the trial court judgment that acquitted former telecom minister A Raja and others in the 2G spectrum allocation scam case.
ADAG has drawn up plans to invest Rs 650 billion in the steel, cement and shipping se three new areas over the next five years. The investment includes Rs 200 billion to set-up a 10 million cement plant and Rs 400 billion towards a steel plant in Jharkhand. The group believes that the three new lines of businesses fit more with RNRL than with other companies under the group, an ADAG source said.
Two ultra mega power projects are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
The Supreme Court has granted bail to five corporate executives in 2G spectrum case.
Reliance gold scheme does not require demat account.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Flag Telecom, a fully owned subsidiary of Reliance Communications, is divesting 15-20 per cent of its equity stake to strategic and financial investors.
The Reliance Anil Dhirubhai Ambani Group's Delhi Airport Express Pvt Ltd (DAMEPL) would run and maintain the line, which would reduce travel time between the heart of the capital and the Indira Gandhi International Airport to 20 minutes.
The Enforcement Directorate, which is investigating possible violations of the Foreign Exchange Management Act by some former UBS employees, has written to the UK's Financial Services Authority, seeking details of the alleged misuse of accounts of Anil Dhirubhai Ambani Group-controlled Reliance Energy and Reliance Natural Resources.
The key highlight Reliance Life Insurance Highest NAV Advantage Plan is that it offers guarantee on maturity with the highest net asset value per unit achieved during the entire 15 years policy term, Reliance Life Insurance said in a statement.
A Delhi court on Monday allowed the Central Bureau of Investigation to interrogate former telecom minister A Raja and two other accused in the 2G case in the Patiala House court complex.
Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
The portal - Mobile Financial Portal -- would offer corporate news, announcements, research reports and stock quotes to its customers across all mobile platforms, a company statement said.
Anil Dhirubhai Ambani Group company Reliance Life Insurance has been awarded a high rating in customer satisfaction for the third year in a row, according to a survey.
Four persons privy to the discussions told Business Standard that the deal is close to finalisation, and that regulator Forward Markets Commission (FMC) had been kept in the loop. Indiabulls holds 40 per cent stake in the exchange, which started operations less than a year ago.
New fund offer, called Reliance Fixed Horizon Fund - XX, is a close-ended income scheme and the units can be purchased only during the period of NFO.
While making the announcement, Anil Ambani, chairman of ADAG, said, the partnership with Spielberg and Snider is the cornerstone of the company's Hollywood strategy.
Both signed a non-binding deal on Sunday.
The bigwigs of cyberia are cashing in on the popularity of reality TV and social networking amongst the youth.
The Railway police on Thursday recorded the statements of three officials of Anil Dhirubhai Ambani Group who had reportedly met Bharat Borge, the Airworks technician, who was found dead on railway tracks on Tuesday.
Reliance ADAG is diversifying its services for stability and investing in Hollywood to reach scale.
The group has earmarked over Rs 4,000 crore (Rs 40 billion) to acquire coal mines in foreign countries.
The mobile games will be available globally and the price points will vary from market to market. For instance, in India Jump Games will operate in two models pay-per-play and perpetual download.
Reliance-Anil Dhirubhai Ambani Group-controlled BIG TV has withdrawn from partnering the Indian Premier League, alleging discrimination by the league's broadcast rights-holder Sony Entertainment Television.BIG TV has communicated its decision to IPL CEO Sundar Raman, alleging that SET has decided to offer the contract to competitor Airtel DTH, though it quoted a lower price for on-air partnership, sources said. When contacted, a BIG TV spokesperson declined to comment.
Lauding the contribution of non-resident Indians in the development of the country, he said, 'Mahatma Gandhi, Sardar Patel, B R Ambedkar, Jawaharlal Nehru were all NRIs. They travelled the world and helped India with new perspectives.'
Demerging print and TV news businesses will allow for separate investment by interested players.
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are set to have some serious competition. Reliance Money, controlled by the Anil Dhirubhai Ambani Group, and Financial Technologies India Ltd (FTIL), which operates one of the world's largest exchange networks, are exploring the option of setting up their own equity exchanges.
Pointing out at the 'cooperation' and 'trust' shared between both India and France, Ambassador of France to India Alexandre Ziegler asked people to look at the facts.
In an affidavit filed before the apex court, the government said that the petition challenging the use of coal for projects other than 4,000-MW Sasan Ultra-Mega Power Project was filed on a totally false basis and 'gives a totally misleading and erroneous impression'.
Anil Dhirubhai Ambani Group firm Reliance Capital said on Monday it has acquired a 5 per cent stake in Network 18, the group holding company of broadcasters TV18 and GBN.
Reliance Power (R-Power), a Reliance-Anil Dhirubhai Ambani Group (ADAG) company, is close to finalising a gas-based power plant in Gujarat with a capacity of 7,000 Mw to 8,000 Mw. This would entail an investment of around Rs 30,000 crore, based on investment levels that are normally required for power projects at present.
Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd (PFL) by Credit Suisse to PFL's promoter group at Rs 44.15 per share. Anil Ambani's Reliance Group company Reliance Capital in a statement termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group. However, Reliance Capital did not share the details of the "blatant abuse of the purported rights".
Reliance MediaWorks, along with two other ADAG firms, has acquired a further 0.25 per cent stake in Fame India, hiking their combined holding in the multiplex chain to 15.28 per cent.
The move comes just two days after Reliance Power, another group company in which REL owns 45 per cent, offered bonus shares to its shareholders in the ratio of 3:5.
Reliance Infrastructure, part of the Anil Dhirubhai Ambani Group, has said the recent Supreme Court order on gas supply to sister firm Reliance Power (45 per cent owned by R-Infra) will not impact its projects.
A short-term (five-year) price is not relevant beyond a point when power plants have a life of 15-20 years, says J P Chalasani, CEO, Reliance Power.
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