After seeking the surrender of spectrum, Reliance Communications (RCom) chairman Anil Ambani is seeking installation of frequency-efficient technologies such as synchronised network and FemtoCells that can be used at no additional cost. Ambani listed seven technologies to improve mobile network efficiency in the country.
A company executive said that the Anil Ambani group is still keen on foraying into television broadcasting business. The top-line of broadcasters was shrinking in the December-ended quarter on the back of economic slowdown and the consequent slowdown in advertising revenues, said the latest Ficci & KPMG report.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
Reliance Power has complained to Sebi of sabotage threats, ahead of its much-awaited IPO. Mukesh Ambani-led Reliance Industries named amongst the key suspects.
Anil Ambani-group run Reliance Technology Ventures Limited (RTVL), on Tuesday said that it has invested in the Seattle-based, early-stage company, Pelago Inc.RTVL, however, did not disclose the amount invested in the US company. RTVL is the corporate venture capital arm of the Reliance ADA Group and a wholly-owned subsidiary of Reliance Capital.
"The investigation did not not reveal any evidence either oral or documentary to inculpate Sh. Anil Ambani in the structuring of different companies and transfer of funds," the agency said in its status report submitted to the Supreme Court on September 29.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
ADAG, however, issued a statement saying that he visited the CBI as part of his weekly visit to Delhi.
Virtually turning down the request of Reliance Group company IPCL for reconsidering his resignation as vice chairman and director, Anil Ambani, engaged in a war of attrition with elder brother Mukesh, on Saturday sought resolution of issues, includin
Upping the ante in the ongoing spectrum war, Reliance Communications chairman Anil Ambani has shot off a missive to the Department of Telecommunications (DoT), accusing GSM operators of having cornered spectrum under the valuable 900 MHz.
The Delhi high court on Thursday put on hold the insolvency resolution process (IRP) proceedings against Reliance Communications (RCom) chairman Anil Ambani in relation to the recovery of Rs 1,200 crore loans given by SBI to his two firms. Ambani had given personal guarantees for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel Ltd (RITL), respectively, in August 2016.
Participant Media led by Jeff Skoll and Entertainment One, a leading US-based media company, are also part of the joint venture.
Sure, while Mumbai's tinsel town has made some attempts to break in (Aamir Khan's Lagaan made it to the 2002 Oscar nomination for foreign films), few Indians have managed to enter this exclusive club. Not anymore. The efforts of the threesome have finally paid off and the Anil Dhirubhai Ambani Group (ADAG) is set to put its imprint on Hollywood.
Welcoming Sebi's initiative on establishing and certifying quality of audit, Ambani said: "We are confident that as part of its supervision, Sebi will ensure compliance with the highest standards applicable to the process and will also ensure that the selection of reviewers takes into account their merit, as also issues relating to confidentiality of commercial information.
The Securities Appellate Tribunal has stayed the order of market regulator SEBI suspending Anil Ambani Group's brokerage firm, Reliance Shares and Stock Broking Private Ltd for violation of norms.
RIL declined to comment on this or related allegations, saying the entire issue was in court.
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in the past two years
CBI on Monday submitted a list of five witnesses, including Anil Ambani, who are scheduled to be called for recording of their statements before the court.
Indian business tycoon Anil Ambani is in talks to take English Premier League club Newcastle United, it was reported on Sunday. British weekly newspaper News of the World said Ambani, the sixth richest man in the world, is already in negotiations with club owner Mike Ashley for a reported 260 million pounds (US $ 510 million) takeover.
The Anil Ambani Group has acquired additional one per cent stake in media house, TV Today Network to increase its holding to nearly 12 per cent in a transaction worth around Rs 7.8 crore (Rs 78 million).
The Ambani brothers are locked in a bitter battle over the supply and price of the gas from KG basin.
The Anil Ambani Group has increased its stake in media house TV Today Network to nearly 12 per cent by acquiring an additional one per cent stake in a deal that could be estimated at about Rs 8 crore (Rs 80 million).
Striving to expand its investment in media companies, the Anil Ambani Group has increased its stake in TV Today Network to over 10 per cent by acquiring an additional 0.96 per cent stake for an estimated Rs 6.50 crore.
Observing there was a 'wilful default', the Supreme Court last month held Ambani guilty of contempt of court and ordered the debt-laden company to clear the dues to Ericsson.
Reliance ADA Group Chairman Anil Ambani was on Thursday exempted by a Delhi court from personally appearing before it on Friday as a prosecution witness in the 2G spectrum allocation case.
The company wants to woo post-paid customers and rent out its assets to cut debt.
Anil Ambani, chairman of the Anil Dhirubhai Ambani Group and a former Rajya Sabha Member of Parliament, was made to wait for over an hour by the Murli Manohar Joshi-led Public Accounts Committee before he was called in for intensive questioning on the 2G spectrum issue. He pleaded that since the name of his company and some key officials figure in the chargesheet filed by the Central Bureau of Investigation on the massive scam, he would not like to say anything.
Reflecting the differences with elder brother Mukesh on buyback of shares by flagship company Reliance Industries, Anil Ambani on Wednesday said he had proposed that 12 per cent equity in RIL held by the Petroleum Trust and four companies be distribu
Tribunal has stopped any construction work at the site and stayed the government's order to convert 500 acres for industrial purpose till further orders.
Leading global advertising and marketing communications services company, Omnicom Group Inc, said on Monday that it has reached an agreement with Anil Ambani-led ADAG to buy a 51 per cent stake in the latter's ad agency, Mudra.
Anil Ambani-led Reliance Group sells multiplex business to Carnival Cinemas.
Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.
Billionaire Anil Ambani on Wednesday called on Prime Minister Manmohan Singh at 7 Race Course Road for close to an hour but refused comments on the purpose of his meeting. The meeting comes within days of the Supreme Court rejecting his group firm Reliance Natural Resources Ltd's plea for cheap gas from Reliance Industries as had been decided in a private family agreement of 2005.
Reliance Group, recently, accused L&T Finance and Edelweiss Group entities of "illegal" and "motivated" actions in invoking the pledged shares of Anil Ambani group's three listed firms and selling them in open market causing a steep fall in share values.
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