Finance Minister Pranab Mukherjee's Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani's dream of entering the banking sector.
With the Mukesh Ambani-promoted Reliance Industries Ltd (RIL) planning to approach the Supreme Court, challenging a High Court order for selling gas at $2.34 per million British thermal unit (mBtu) to Reliance Natural Resources Ltd (RNRL), the chances of an agreement between the Ambani brothers by July 15 appear remote.
Reliance Comm wants all of Hutch Essar at one go.
We had limited capital but our approach was different, says the RIL chairman.
Railway police on Friday gave a clean chit to three officials of Anil Dhirubhai Ambani Group whose statements were recorded in connection with the death of Airworks technician Bharat Borge.
Multiple residential units are being developed for housing senior executives of Reliance Anil Dhirubhai Ambani group at a plot in Pali Hill of Bandra.
Having created businesses ranging from world's largest single-location oil refining complex to nation's largest mobile network operators in just few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees on Reliance Family Day - the birthday of the group's founder Dhirubhai Ambani, he said Reliance is now aiming to consolidate a place among global leaders in digital data platforms and AI adoption. "Today, the domestic and global environments for business are changing very fast.
The university is expected to match the standards of institutions like Harvard, Stanford, and Oxford.
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
We are working at putting the most modern technology in farms at Indian costs. I always say whatever the US implements in dollars we should be able to do it at exchange rate of Rs 10, then we would be globally competitive.
The younger Ambani sibling had a two-hour meeting with K V Kamath, chief of ICICI Bank and a friend of the family, who is said to be working out a formula to end the feud at the behest of Kokilaben Ambani.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
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 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.
A new round of conflict started on Friday between the Ambani brothers, with the faction led by Mukesh
Close on the heels of Mukesh Ambani's Reliance Industries seeking coal mines to convert coal into oil, younger brother Anil-run Reliance Natural Resources has applied for coal blocks to turn coal into gas. Reliance-Anil Dhirubhai Ambani Group (R-ADAG) president J P Chalasani in a January 14 letter to Coal Secretary H C Gupta sought allocation of "captive coal blocks for the purpose of converting coal to gas."
The annual day function at Dhirubhai Ambani International School in Mumbai turned out to be a star-studded event, as film folk stepped out to applaud the superstars in their own homes.
Ambani remained at the CBI headquarters for nearly two hours in connection with the agency's investigation into the 2G scam. The media was told he went to the CBI HQ because the Bureau had sought clarification on certain documents relating to Swan Telecom -- one of the companies allegedly involved in the 2G scam. But couldn't one of his company directors have gone instead to explain?
Mukesh Ambani has left 'all settlement issues' to her. A spokesperson said on Saturday night that Mukesh would abide by whatever decision she takes.
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.
The FIR was lodged by the Lucknow Gurudwara Prabandhak Committee after an emergent meeting held in Lucknow on Monday, official sources said on Tuesday.
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).
The CEOs Forum was announced during the visit of Chinese prime minister Wen Jiabao here in December.
With the listing of Reliance Power, the market cap of Anil Ambani group aggregated to Rs 307,112 crore (Rs 3,071.12 billion), almost Rs 100,000 crore (Rs 1,000 billion) below expectations of Rs 400,000 crore (Rs 4,000 billion) capitalisation.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
According to one calculation, Reliance Power IPO is likely to gain close to $27 billion for Anil Ambani, which when combined with the existing market capitalisation of his companies will work out to be close to $75 billion!
He worked on the Delhi electricity privatisation
The younger Ambani sibling, Anil, on Monday sent an emotional farewell message to all the employees of Reliance Industries, from where he stepped down as vice chairman and managing director.
"It is a rubbish petition. If I find that we you (petitioner) have tried to interfere with the investigation then you may be in bigger trouble," Justice Ajit Bharihoke said.
The ADA Group's recent decision to sell a stake in Reliance Communications and merge its telecom tower business with GTL Infra will help it reduce a mounting debt burden.
In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
Real estate major DLF, Mukesh Ambani-promoted Reliance Industries, cinema production and distribution company Eros International, Reliance Anil Dhirubhai Ambani Group and Videocon Industries are believed to be readying to bid for team ownership rights in the Indian Premier League.
Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
Shareholders' demand list included from providing ABCD (appreciation, bonus, cash & dividend) security to making pepper spray.
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