The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
In a no-holds-barred attack, Anil Ambani has accused his elder brother, Mukesh, of trading their father Dhirubhai's vision for 'corporate greed'.
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.
Ambani termed COAI's appeal to the telecom tribunal against the government granting RCom dual-use technology (CDMA and GSM) as "unnecessary and unwarranted". RCom, the country's largest provider of CDMA mobile services, recently received permission to start GSM services under its existing licence for which it paid a fee of Rs 1,651 crore (Rs 16.51 billion).
Reliance Power (RPower) has defaulted on payment of interest worth Rs 1.17 crore to DBS Bank India and Rs 44 lakh to IDBI Bank. It failed to pay up interest on October 30, 2021. The firm, part of the Anil Ambani-promoted Reliance group, in filing with BSE, said it has term loans and working capital arrangements with three lenders - YES Bank, IDBI Bank and DBS. Its stock closed 1.41 per cent lower at Rs 12.6 per share on the BSE on December 1. About exposure of YES Bank, there is a 'standstill' applicable till December 26, 2021.
Multiple residential units are being developed for housing senior executives of Reliance Anil Dhirubhai Ambani group at a plot in Pali Hill of Bandra.
Nearly four months after Anil Ambani tendered his resignation from the board of Reliance group company IPCL in the midst of his feud with brother Mukesh Ambani, the company's website on Friday showed the list of the Board of Directors without the you
The report further added that three of "his fellow countrymen--estranged brother Mukesh, steel tycoon Lakshmi Mittal and Indian K P Singh, all of whom ranked earlier among the world's 10 richest--lost more than $20 billion apiece."
Anil Ambani Group never sought clarification before bids closed, says DGH.
A division bench of Justices J N Patel and K K Tated said that the new agreement should be as per the memorandum of understanding between the Ambani brothers Mukesh and Anil. The MoU stipulates that RIL would supply 28 mmscmd of gas to RNRL for 17 years at the rate of $2.43 per million British Thermal Units.
Tina and Anil Ambani's elder son Jai Anmol tied the knot with Khrisha Shah in Mumbai in a star-studded affair.
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.
IT Minister Dayanidhi Maran on Friday launched the Web site of noted industrialist and Rajya Sabha member Anil Ambani who said it was an interactive forum where people can share with him their views on important issues.
Supreme Court on Tuesday dismissed the appeal of Reliance Airport Developers challenging the government's decision to allot modernisation works of Delhi and Mumbai Airports to GMR and GVK led consortia.
The agency had contended that Anil Ambani, who is the Chairman of Reliance ADA Group, will be able to 'throw light' on the issues of alleged investment by his group companies.
Market regulator Sebi on Friday barred Anil Ambani-led Reliance Infra and RNRL from investing in secondary market till 2012, besides imposing a charge of Rs 50 crore (Rs 500 million) for settling a probe into alleged unfair market dealings by the two firms.
Commodity markets regulator FMC on Wednesday said it has given approval to the Anil Ambani Group to acquire 26 per cent stake in Indian Commodity Exchange from one of its promoters, Indiabulls group.
Superstar Hollwyood director Steven Spielberg and Anil Ambani are about to sign a deal that will see the ADA Group bankroll Spielberg's DreamWorks SKG with between $500 million to $600 million, The Wall Street Journal reported on Wednesday.
Yes Bank has taken over the headquarters of Anil Ambani's group in suburban Santacruz in Mumbai for failure to repay dues worth Rs 2,892 crore. The private sector lender has also taken possession of two flats in South Mumbai for the non-payment of dues by Reliance Infrastructure, according to a notice published by Yes Bank in a newspaper on Wednesday.
An attempt to unravel the method in Anil Ambani's madness as he hopes to build leadership in entertainment.
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.
The share price of other ADA group firms declined as well, including Reliance Infrastructure (lost Rs 1,660 crore), Reliance Communication (Rs 867.5 crore), Reliance Capital (637 crore) and Reliance MediaWorks (Rs 60 crore).
'While renegotiating the deal, it is likely that Anil Ambani could ask for a huge compensation from RIL to satisfy the ADAG firms' shareholders, a broker closer to the Ambanis said.
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.
The CEOs Forum was announced during the visit of Chinese prime minister Wen Jiabao here in December.
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
The banking entity of the group could be called Reliance Bank, Ambani told the shareholders of Reliance Capital.
Reliance Natural Resources Ltd chairman Anil Ambani is understood to have sought a review of the government's decision, rejecting the sale of natural gas by RIL to it.
Two brothers have begun collaborating in certain businesses.
Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
BSES Ltd became a part of the Reliance Group with Anil Ambani being appointed chairman of the Mumbai-based power utility.\n\n\n\n
If the deal is successful, it would be the first such acquisition for the ADA Group.
Etisalat DB Telecom chief executive officer Atul Jham was also questioned by the panel headed by senior BJP leader Murli Manohar Joshi.
Billionaire industrialist Anil Ambani on Monday said business leaders from India and China should enhance Rupee-RMB-Dollar trade for furthering co-operation between the two nations.
ADAG group company Reliance Energy Ltd is the second-lowest bidder for the Rs 16,000 crore (Rs 160 billion) project, after Lanco. However, with the Lanco bid becoming invalid, REL could claim to be the lowest bidder.
The BJP said the email purportedly by an Airbus executive referred to a helicopter deal and not Rafale.
Amid the worsening financial crisis in the US, business publication Forbes has named legendary investor Warren Buffett and Indian billionaire Anil Ambani among the world's richest business people who are investing heavily in the American economy.
Anil Ambani group firm Reliance Big Entertainment on Sunday made its foray into Hollywood, with the announcement of development deals with celebrities including Angelina Jolie, Julia Roberts, Brad Pitt and Nicolas Cage. Reliance Big Entertainment, the media and entertainment company of the Reliance ADA Group, said that it will provide development funds to eight Hollywood production houses. sources said the investment would be in the range of US$ 500 million to US$ one billion
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