RCom had net debt of about Rs 40,222.6 crore at the end of June 30.
Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
The Board of Control for Cricket in India will on Thursday announce the winning bids for the eight Mumbai-based franchisee teams that will take part in the forthcoming Indian Premier League.
The latest list of richest Indians, compiled by Forbes magazine, has named 23 billionaires from Mumbai. Delhi accounts for only 12 such people. Among top five richest Indians living in India, two are from Mumbai and two from Delhi. But, Mumbaikars enjoy higher ranks than the Delhiites.
The government advised the warring Ambani brothers several times that they should stop fighting, but failed to bring about a reconciliation, Petroleum Minister Murli Deora said on Wednesday.
The Bombay High Court will hear on November 25 the petition filed by Reliance Industries Ltd seeking the court's approval of a scheme to demerge the company into four new entities as part of a settlement reached between Ambani brothers.
Azim Premji and his family gave away Rs 7,904 crore (Rs 79.04 billion) in philanthropy, up 1,645 per cent!!! over the previous year.
Market regulator Securities and Exchange Board of India on Saturday said it has received several letters from Reliance Industries vice-chairman and managing director Anil Ambani
The letter demands a full discussion on the shareholding in Reliance Infocomm at the December 27 meeting.
The board of Reliance Energy will meet in Mumbai on November 30 to discuss the resignations of the company's six directors and other related issues.
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
India's ace deal-maker explains what allowed him to represent both Dhirubhai Ambani and Nusli Wadia while being on Essar Shipping's board.
'If the government starts playing favourites, if the government acts in a manner which is not transparent, then natural resources which belong to not just you and me, but future generations, they fritter away. The anger against corruption, the anger against India's natural resources being looted is a consequence of the fact that within society there is a huge amount of turmoil and discontentment. Why should an Empowered Group Of Ministers or the Cabinet Committee on Economic Affairs decide the administered price of gas?' asks Paranjoy Guha Thakurta in this exclusive interview with Rediff.com's Sheela Bhatt.
The success of Anil Ambani's ambitious defence plan will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether the PM can get India's notoriously slow procurement process to work, say Paritosh Bansal, Sanjeev Miglani and Promit Mukherjee.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
American retail major Walgreens Boots Alliance on Tuesday said it would retain its pharma retail business - Boots UK - thus abandoning the entire sale process. The company did not make any comment specifically on the offer made by Mukesh Ambani-owned Reliance Industries (RIL), which had made a bid for the company last month. "As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company.
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
India Inc reacted cautiously to allegations on Swiss a/cs.
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
Just a day before Shabana Azmi met with a road accident on January 18, she was celebrating husband Javed Akhtar's 75th birthday bash with the rest of Bollywood. And it was a full house, as *everyone* came forward to pay their salaams to one of Bollywood's leading writers and poets.
Top 100 billionaires see their wealth rise 10%; top 20 account for half of total wealth of top 100.
China Development Bank takes Reliance Communications to NCLT over loan default
Top leaders from India Inc may be busy throughout the year, but they too have a very strong social life beyond work.
Software giant Wipro's Azim Premji donated Rs 9,713 crore or Rs 27 crore a day to retain his top rank among Indian philanthropists in FY21. Premji, the founder chairman of the company, increased his donation by nearly a fourth during the pandemic year, as per the Edelgive Hurun India Philanthropy List 2021, which had HCL's Shiv Nadar at second place with contributions of Rs 1,263 crore towards upliftment causes. Mukesh Ambani of Reliance Industries, India's richest man, came third on the list with a Rs 577 crore contribution and was succeeded by Kumar Mangalam Birla with Rs 377 crore.
Mukesh or Anil, who will have the upper hand in the battle for major share of Mumbai makeover pie will be known later on Wednesday.
A look at the starry arrivals.
Filmmaker Ronnie Screwvala's daughter Trishya got married to Suhail Chandhok on January 19 at the Taj Mahal Palace in south Mumbai. It was followed by a starry reception at the same venue the next day.
On Monday, Ambani had said the Reliance group was open to join hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
Even as Sonam Kapoor threw a Diwali party, Amitabh Bachchan hosted a grand celebration too.
The National Company Law Tribunal (NCLT) on Monday gave its approval to Jio for the acquisition of Reliance Infratel (RITL). The tribunal asked Jio to deposit Rs 3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM's tower and fibre assets. On November 6, Jio had proposed to deposit Rs 3,720 crore in an escrow account to complete the acquisition of Reliance Infratel which is undergoing an insolvency resolution process.
They exchanged wedding vows as per Catholic tradition at the Umaid Bhawan Palace in Jodhpur.
According to the agreement, RIL will transfer its existing textile business under the Vimal brand into a newly incorporated company in which RIL will hold 51 per cent stake. The remaining 49 per cent stake will be sold to Ruyi.
If Modi rethinks on pro-biz policies, investors will suffer.
The entry of the deep-pocketed conglomerate is expected to heighten competition.
No one quite sure, but many do believe pragmatism likely, for now, to show a way forward.
In an apparent bid to offset BJP candidate Pragya Thakur's controversial statement against slain IPS officer Hemant Karkare, Modi heaped praises on Mumbai police.
