Over the next five years, plans to pump money in KG DG, refining, petrochemical sectors, retail and telecom.
Reliance Industries has since April stopped selling gasoline and gas oil to Iran in an apparent bid to escape sanctions by the US, where it is eyeing an acquisition.
The development of the constitution of the tribunal comes at a time when the Delhi high court in December 2020 refused to restrain Amazon from interfering in Future Retail's deal with Reliance Retail by writing to statutory authorities.
Reliance Industries has not violated any regulations, a spokesperson for Mukesh Ambani-led firm said on Monday, when asked about Sebi's show-cause notice in relation to sale of shares of its then subsidiary Reliance Petroleum in late 2007.
Three business houses are likely to be in the final race to strike a deal with Germany's Metro AG for investing in its India unit -- Metro Cash & Carry. Industry sources in the know named Reliance, Adani Group, and Thailand's conglomerate Charoen Pokphand (CP) as potential frontrunners to acquire a partial or full stake in the Gurugram-headquartered Metro Cash & Carry, which has 31 stores and 5,000 direct employees. Around 20 companies, including strategic and private equity investors, were approached by the German chain, inviting them to bid for the Indian wholesale business, according to a source aware of the M&A developments.
A Division Bench led by Chief Justice Swatenter Kumar on Thursday dismissed NTPC's appeal. The suit between the two parties relates to their gas supply agreement.
The 3-year partnership to set up a pan India initiative to catalyse the country's technology startup ecosystem was signed today by R A Mashelkar, Chairman, GenNext Ventures and Board Member, RIL, and Bhaskar Pramanik, Chairman, Microsoft India.
Days after the Cabinet approved doubling of natural gas price from April next year, the Finance Ministry has written to Oil Ministry suggesting setting of a ceiling or an upper limit for the rates.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
An RIL spokesperson said that the company has filed its reply to the government's petition on the gas dispute.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
RIL had sought 11.80 million standard cubic meters per day of KG D-6 gas to meet feedstock requirement at its twin refineries but it got only 2.34 mmscmd.
Anand Jain, a key confidant of Reliance chairman and managing director Mukesh Ambani, has not quit the board of the group's petrochemical company IPCL contrary to media reports.\n\n
The market regulator Securities and Exchange Board of India (Sebi) has asked the government to consider appropriate action against Reliance Industries Ltd (RIL) for allegedly routing funds to dummy companies for buying large quantity of its shares 2000.
The companies want to drill exploration wells in already producing oil and gas fields.
Reliance Industries, headed by India's richest man Mukesh Ambani, has bought an ultra-luxury Rolls Royce hatchback costing Rs 13.14 crore.
A price of $4.20 per million British thermal units is not viable for smaller gas discoveries, say industry experts.
The government on Monday refused to review its decision rejecting the price of natural gas proposed to be sold by Reliance Industries Ltd to an Anil Ambani group firm.
The Directorate General of Hydrocarbons (DGH) had recommended to the ministry that RIL be asked to give up 86% of its KG-D6 gas block area
Reliance Industries has said that developing smaller gas fields in the KG-D6 block is economically unviable at the current price of $4.20 per mmBtu and it may seek a rate of at least $6 per mmBtu in 2014, when the fields are put into production.
Japan's Orix Corporation, which was in talks with Reliance Industries (RIL) to sell its 23.87 per cent stake in Infrastructure Leasing and Finance Company (IL&FS), has bowled a googly.
State-run insurer LIC and private fund house Franklin Templeton have hiked their stake in Mukesh Ambani-led Reliance Industries by collectively buying about 23 lakh shares, currently worth an estimated Rs 200 crore (Rs 2 billion).
RIL is currently producing 36 mmscmd gas from KG-D6, half of which goes to power plants. The firm has the capacity to produce 60 mmscmd but is constrained to produce less as the government is yet to identify customers for buying gas beyond the initial 40 mmscmd, allocated primarily to fertiliser and power producers in accordance with the Gas Utilisation Policy.
The company's revenue fell to Rs 67,470 crore (Rs 674.7 billion).
Market regulator SEBI is believed to have issued show-cause notice to Reliance Industries and its associate entities following a probe into charges of insider trading in securities of group firm Reliance Petroleum.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
Move aimed at increasing US major's refining flexibility & scale.
Life Insurance Corporation of India, Housing Development Finance Corporation and State Bank of India together own a little over 45 per cent in IL&FS. The deal is expected to be valued around $2.5 billion.
The extraordinary general meeting of Reliance Industries Ltd on Friday virtually cleared the demerger of group companies, with company chairman Mukesh Ambani submitting over 65 per cent 'proxy' votes in favour of the scheme.
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
RIL sources said the company has not received any communication from the government to stop work in KG-D6 or any other blocks.
Reliance is seeking help from Shell to rectify glitches in D6 block in the Krishna-Godavari basin.
Siding with Reliance group chairman Mukesh Ambani, the board of the flagship company RIL on Wednesday rejected objections raised by his younger brother and vice chairman Anil
The government on Friday rejected Reliance Industries Ltd's demand for compensation equal to public sector oil firms, to make up for the losses it suffered on petrol and diesel sales.
Reliance Natural Resources Ltd chairman Anil Ambani is understood to have sought a review of the government's decision, rejecting the sale of natural gas by RIL to it.
RIL had got the block in an intensely fought auction by submitting better commercial and technical bids than other bidders including ONGC-GAIL and Cairn Energy.
India's largest refiner, Reliance Industries Ltd, is in talks with public sector oil marketer Hindustan Petroleum Corporation for a tie-up to run the former's fuel retail outlets, closed a year earlier.HPCL has issued a limited tender to five merchant bankers to advise it on the deal.Last year, RIL closed 1,400 petrol pumps -- 900 owned by the company and the rest managed by dealers.
The stake sale follows Mukesh Ambani-run firm exiting from two oil blocks in Kurdistan region of Iraq.
