Billionaire Mukesh Ambani announced that the transfer of day-to-day management responsibilities at Reliance Industries to his children, Akash, Isha, and Anant, is "almost complete," marking the final stages of a significant succession process for India's most valuable company.
Anil Ambani on Wednesday produced much mirth at an investment meet here when he greeted his elder brother Mukhesh Ambani.
Reliance Industries chairman Mukesh Ambani will appeal against the fine imposed by market regulator SEBI over alleged irregularities in a two-decade-old share issue in the company, the firm said on Thursday. Reliance Industries Ltd (RIL) had issued debentures with convertible warrants in 1994 and allotted equity shares against the warrants in 2000. This was when Dhirubhai Ambani was heading the undivided company.
Business tycoon Mukesh Ambani may have retained his title as India's richest person for 7th year in a row, but his place among the world's richest people has dropped to lowest in eight years.
Reliance Industries chief Mukesh Ambani on Thursday met Finance Minister P Chidambaram and other senior officials in the ministry.
Within days of revoking a non-compete agreement that his group had with his younger brother Anil, Relianec Industries Ltd chairman Mukesh Ambani is believed to have held a long-drawn-out discussion with telecom czar Sunil Mittal.
'Economic benefits of RIL shares held by these four companies have always been for the benefit of RIL's shareholders, and remains so. This fact has been reiterated by RIL a number of times,' the company said.
Aamir Khan has officially tied the knot with Gauri Spratt in a private registered marriage ceremony, with exclusive inside pictures revealing the couple's first moments as husband and wife.
Reliance Group Chairman Mukesh Ambani has admitted to differences with his brother Anil over 'ownership issues,' but said "they are in the private domain."
Mukesh Ambani gave a fascinating account of how the company, which will soon account for around 40 per cent of the country's oil & gas production, can change the energy landscape of the country. It can also potentially lead to a new gas-based economy, he said. Terming natural gas as the 21st century fuel, Ambani said India now has the opportunity to leapfrog the use of clean energy and directly benefit the people.
No comments could be obtained from the spokespersons of either Reliance Industries Limited or Anil Dhirubhai Ambani Group.
Amid a continuing legal battle between the Ambani brothers over gas supply, the elder of the two, Mukesh Ambani, is believed to have met Law Minister Veerappa Moily.
Amidst the ongoing war of words between the Ambani brothers over the issue of pricing of gas, Mukesh Ambani, chairman, Reliance Industries Ltd, on Tuesday met TKA Nair, Principal Secretary to the Prime Minister, at the latter's office in the South Block.
With 14 buildings spread over 2.2 million sq ft of office space, the Dhirubhai Ambani Knowledge City can accommodate 10,000 people.
Mukesh Ambani, who runs India's most-valued business empire Reliance Industries group, also saw the highest fluctuation of about $35 billion in his net worth over the past year, even as he trailed his estranged brother Anil as the world's second-biggest wealth creator. Mukesh, however, managed to maintain a slender lead of $1 billion over Anil in terms of net worth, as per a Forbes billionaire list released on Thursday. Forbes has ranked Mukesh as world's 5th richest man.
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
Aamir Khan and Gauri Spratt tied the knot in a registered marriage ceremony in Mumbai.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
London-based Dar Consultants has said its bid and the one by preferred bidder Anil Dhirubhani Ambani Group's RELINFRA-Hyundai consortium are both 'responsive' or worth considering. Dar Consultants' recommendation puts the responsibility of re-considering the preferred bidder between the warring brothers squarely back with the political executive. The state cabinet's committee on infrastructure will meet Wednesday to decide the fate of the project.
Hamish McDonald, whose book on the saga of Reliance was banned in 1998 in India after the corporate house moved court, has come out with the poser in his book -- Mahabharata in Polyester: The Making of World's Richest Brothers and Their Feud -- to be released on September 1 in Australia.
Billionaire Mukesh Ambani for the second year in a row drew no salary from his flagship firm Reliance Industries in the last fiscal as he voluntarily gave up remuneration in light of the pandemic hitting the business and economy. In its latest annual report, Reliance said Ambani's remuneration for the financial year 2020-21 was "nil". In June 2020, Mukesh D Ambani, chairman and managing director of Reliance Industries, voluntarily decided to forego his salary for the year 2020-21, in light of the COVID-19 outbreak in India, which exacted a huge toll on the societal, economic and industrial health of the nation.
A look at the party pictures.
In a video shared by Deora, former Union minister, on his Twitter page, Ambani says "Milind is the man for South Mumbai", while Kotak eulogises the Mumbai Congress chief for "truly representing the Mumbai connection".
Top ten billionaires in India.
Congress leader Rahul Gandhi has warned of a severe economic crisis looming over India, criticising Prime Minister Narendra Modi's economic policies and foreign travels.
Mukesh Ambani has left 'all settlement issues' to her. A spokesperson said on Saturday night that Mukesh would abide by whatever decision she takes.
Wife Nita, who joined the board as non-executive director in FY15, draws Rs 84 lakh
Who are the special fathers of these famous Indians? The paternal figures responsible for putting them on the right path and helping them find greatness.
Mukesh Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
RIL, owned by elder brother Mukesh Ambani, had acquired the Mumbai team last month for $111.9 million (about Rs 448 crore) for 10 years. Anil Ambani chose to stay away from the bids for the eight teams last month.
Anil's RCom straddles 2G, 3G; Mukesh has spectrum to operate in 4G.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
If the deal is indeed being considered, this will be the first time that Ambani will be putting his money in a print media venture since he and his younger brother, Anil Ambani, split businesses to form their own groups
Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
'You empower a man, you are not necessarily empowering a family, you are just empowering him.'
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
The total wealth of India's top five billionaires, which stands at a whopping $83.7 billion, is more than the cost of 1,230 Mars Orbiter 'Mangalyaan' Missions and is more than 18 times the cost of hosting the 2016 Rio Olympics
