Anil Ambani on Wednesday met Finance Minister P Chidambaram and Home Minister Shivraj Patil presumably to brief them about the settlement of Reliance empire with the elder scion of the Ambani family, Mukesh.
Anil Ambani, vice chairman and managing director of Reliance Industries Ltd, has been adjudged the most admired chief executive in India, while his elder brother Mukesh Ambani occupied the fifth slot.
Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
Amitabh Jhunjhunwala, former group managing director of Anil Ambani-led Reliance Communications, has been remanded in 14-day judicial custody in an alleged bank loan fraud case. The CBI alleges misutilisation of loan funds, causing significant losses to a consortium of banks led by SBI.
Reliance Group chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator Sebi order restraining him from associating with any listed company. "Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order," Reliance Power said in a BSE filing. In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board "in compliance of SEBI interim order".
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.
The CBI conducted searches at 17 premises in Mumbai related to Reliance ADA Group companies, including Reliance Telecom and Reliance Finance, concerning alleged diversion of bank funds and losses to banks and LIC.
The Enforcement Directorate conducted searches at multiple locations in Mumbai and Hyderabad as part of an investigation against Reliance Power Ltd., a group company of Anil Ambani, concerning alleged money laundering and financial irregularities.
To make Swachh Bharat a people's movement, Modi had also initiated a chain by inviting nine eminent personalities, including cricket icon Sachin Tendulkar, Congress leader Shashi Tharoor, industrialist Anil Ambani along with several actors to spread awareness on cleanliness.
Sources said that the Malaysian prime minister invited Ambani to invest in sectors like power, media and financial businesses.
The Enforcement Directorate conducted searches at multiple locations in Mumbai and Hyderabad as part of a money laundering investigation against Reliance Power Ltd., a group company of businessman Anil Ambani.
In a move that signifies a major leap for India's aerospace manufacturing capabilities, the collaboration will establish a final assembly line for the Falcon 2000 jets in Nagpur, Maharashtra.
The Enforcement Directorate (ED) has attached assets worth over 581 crore belonging to Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL), companies of Reliance Group Chairman Anil Ambani, as part of an ongoing investigation.
Anil Dhirubhai Ambani has picked up 2.16 per cent stake in his group company Reliance Energy Ventures Ltd through open market transactions, taking his total stake in the company to 41.77 per cent.
Tina Ambani is seeking to raise over 1,00,000 pounds (Rs 81 crore) for her Harmony Art Foundation by selling a dozen art works at Christie's. The auction house will also exhibit 32 works from the Ambani family's private collection. These include works by M F Husain, Tyeb Mehta and S H Raza and the exhibition would continue till June 10. The auction is estimated to fetch in excess of 1,00,000 pounds and the proceeds would go towards future activities of the Foundation.
The Reliance Industries vice-chairman would be supported by Samajwadi Party.
The Enforcement Directorate (ED) has attached fresh assets worth over 581 crore belonging to Reliance Group companies, RHFL and RCFL, as part of its ongoing money laundering investigation.
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.
The meeting lasted for about 20 minutes but deliberations of the meeting could not be known immediately.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
Resignations of Anil Ambani and four other directors were conveyed to the CoC of RCom in its meeting on November 20 and were unanimously rejected.
Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.
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.
A Mumbai court has granted the CBI permission to arrest Amitabh Jhunjhunwala, a former senior executive at Reliance Group, in connection with a case involving the alleged misuse of bank loans. Jhunjhunwala was already in judicial custody in Delhi for a related money laundering case.
According to insiders, the induction of Jai Anshul would coincide with the birthday of the late patriarch of Reliance group, Dhirubhai Ambani, in the last week of December.
Official sources indicated on Monday that the government may allocate natural gas to Anil Ambani Group's proposed power plants like the Dadri project in Uttar Pradesh only six months prior to commissioning, as reservation of gas is not allowed under the present policy.
The Central Bureau of Investigation (CBI) conducted searches at seven premises linked to Reliance Communications Ltd, an Anil Dhirubhai Ambani Group company, in connection with a fraud case involving thousands of crores of rupees.
Business baron Anil Ambani had a meeting with US Commerce Secretary Gary Locke on Thursday, during which they discussed the new momentum in economic relationship of the two countries following the November visit of President Barack Obama to India.
Industrialist Anil Ambani met Maharashtra Chief Minister Prithviraj Chavan in the backdrop of reports that the Maharashtra State Road Development Corporation (MSRDC) was mulling a coastal road from Worli to Haji Ali and from Haji Ali to Nariman Point.
Reliance Infocomm chief Anil Ambani is understood to have raised a number of issues, including interconnection in telecom
Last month, then Delhi Chief Minister Arvind Kejriwal had ordered a CAG scrutiny of private power distribution companies.
Ambani flew to Badrinath, which reopened to the public today, from Dehra Dun in a helicopter to pay obeisance to Lord Badri.
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.
Industrialist Anil Ambani on Wednesday made his debut in Hollywood film production, roping in ace directors Steven Spielberg and Stacey Snider for a joint venture where he would initially pump in Rs 4,000 crore (Rs 40 billion).
The Group has decided to withdraw the Rs 5,000-crore civil defamation suits against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal.
A Delhi court has remanded former senior executives of Reliance Anil Ambani Group (RAAG) to five days of ED custody in connection with an alleged bank loan fraud-linked money laundering case.
Industrialist Anil Ambani has said his group's financial services arm Reliance Capital plans to globalise its operations in the next 3-5 years and expand its customer base 2.5 times to 50 million in this period.
ADA Enterprise, which has been floated by Anil Ambani to manage companies under his fold, on Monday announced the appointment of Debabrata Chowdhury as vice president, technology development.
In 2009, Reliance Communications' net worth exceeded Rs 37,000 crore (Rs 370 billion) making it one of the top three companies in India.
