The National Company Law Tribunal (NCLT) in Mumbai has admitted a petition filed by State Bank of India (SBI) seeking to initiate personal insolvency proceedings against industrialist Anil Ambani. This action is related to Ambani's alleged personal guarantees for loans extended to Reliance Communications (RCom), from which SBI is attempting to recover over 1,200 crore.
Industrialist Anil Ambani has approached the Supreme Court seeking a court-facilitated debt resolution similar to the one provided to Sterling group's Nitin and Chetan Sandesara, and five other members of their families.
The Enforcement Directorate on Friday questioned Jai Anmol Ambani, son of industrialist Anil Ambani, in Delhi in a money laundering case linked to an alleged bank loan fraud, officials said.
The CBI has registered a new case against Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to the Life Insurance Corporation (LIC) of India.
The CBI has booked the son of industrialist Anil Ambani, Jai Anmol Anil Ambani, and Reliance Home Finance Ltd. (RHFL) in a case of alleged cheating in Union Bank of India that caused a loss of Rs 228 crore to the public bank, officials said on Tuesday.
The Reliance Centre, a guesthouse and some residential assets in Mumbai, apart from 231 plots of land in Chennai, are among the fresh assets worth Rs 1,120 crore attached by the ED as part of its ongoing money-laundering probe against the companies of Reliance Group chairman Anil Ambani.
The Bombay high court has upheld a decision by the State Bank of India (SBI) to classify accounts of industrialist Anil Ambani and his company, Reliance Communications (RCom), as "fraudulent" noting that there was no legal flaw in it.
Industrialist Anil Ambani on Wednesday met Planning Commission deputy chairman Montek Singh Ahluwalia, who is reportedly in the reckoning for the post of Finance Minister in the new UPA government.
The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
Anil Ambani has interests in power, telecom and other infrastructure sectors.
The case pertains to a bank guarantee of Rs 68.2 crore submitted to the Solar Energy Corporation of India Limited (SECI) on behalf of Reliance NU BESS Limited, a subsidiary of Reliance Power, a listed company, which was found to be "fake".
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.
Ambani flew to Badrinath, which reopened to the public today, from Dehra Dun in a helicopter to pay obeisance to Lord Badri.
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).
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.
Markets regulator Sebi has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market including as a director or Key Managerial Personnel (KMP) in any listed company, or any intermediary registered with the market regulator, for a period of 5 years.
Stickers defaming industrialist Anil Ambani and his Group ADAG were found pasted at various locations in suburban Bandra.
Ambani's resignation follows a recent spate of resignations from the Upper House over the office of profit issue.
Finance Minister Pranab Mukherjee's Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani's dream of entering the banking sector.
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".
Industrialist Anil Ambani will meet West Bengal Chief Minister Buddhadeb Bhattacharjee in Kolkata on August 18 to discuss a host of investment proposals, including a Light Rapid Transport System.
The report further added that three of "his fellow countrymen--estranged brother Mukesh, steel tycoon Lakshmi Mittal and Indian K P Singh, all of whom ranked earlier among the world's 10 richest--lost more than $20 billion apiece."
The banking entity of the group could be called Reliance Bank, Ambani told the shareholders of Reliance Capital.
Billionaire industrialist Anil Ambani on Monday said business leaders from India and China should enhance Rupee-RMB-Dollar trade for furthering co-operation between the two nations.
Here are who's who attending the wedding.
The 21-year-old woman, who has been doing her chartered accountancy articleship at Manoj Daga & Company in Hyderabad, was booked under relevant sections of Information Technology Act on September 7, after a preliminary investigation and faces arrest in the case.
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.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
The government and the ruling Bharatiya Janata Party have dismissed the Pegasus Project reports as concocted and evidence-less.
Rahul accuses govt of weakening HAL to benefit Anil Ambani while Sitharaman said doubts raised over HAL contracts are misleading.
People who know Mr Ambani, estimated by Forbes as the world's sixth richest man with a net worth of about $42bn, say the deal is typical of his aggressive style.
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.
IT Minister Dayanidhi Maran on Friday launched the Web site of noted industrialist and Rajya Sabha member Anil Ambani who said it was an interactive forum where people can share with him their views on important issues.
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.
Modi had last month launched the 'Give-it-Up' campaign.
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
Decision-making has been very poor, Ambani said.
Two and a half hours into voting day and Maharashtra saw its top netas and Bollywood celebrities come out and vote. Among the early voters on Wednesday were...
Parliament's Public Accounts Committee has called leading industrialists, including Ratan Tata and Anil Ambani, and corporate lobbyist Niira Radia to appear before the panel in connection with the 2G spectrum scam which it is probing.
Days before US President Barack Obama's high-powered visit here, the US-India CEO Forum has been reconstituted with Cyrus Mistry replacing Ratan Tata as its co-chairman
