The Supreme Court on Friday issued fresh notices to Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the firm and its group companies.
Reliance ADAG is diversifying its services for stability and investing in Hollywood to reach scale.
The Enforcement Directorate has issued fresh summons to Reliance Group chairman Anil Ambani to appear for questioning on February 26 after he skipped deposition this week, official sources said on Thursday.
'The transactions were done in a circuitous route deliberately and most of the companies involved in it are Reliance ADA group firms.'
Reliance ADA group is also planning to develop the railway infrastructure for transporting coal.
A CBI chargesheet bares the extent to which companies associated with Reliance ADAG allegedly indulged in financial subterfuge through a complex maze of transactions.
Tina Ambani, wife of Anil Ambani, skipped the Enforcement Directorate (ED) summons for the second time in connection with a money laundering case. Anil Ambani has been asked to appear before the agency as well.
In a significant development, the Supreme Court on Tuesday sought responses from the Centre, CBI, ED, Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the ADAG and its group companies.
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.
R-ADAG has taken on board Ashutosh, the business head of Sahara One and Entertainment's Hindi movie channel Filmy, as the COO for its upcoming movie channels.
Reliance ADA Group announced the launch of its online casual gaming portal Zapak.com on Saturday.
The website will now be repositioned as an e-commerce portal such as eBay.
Anil Ambani-led Reliance companies have bagged three awards including the Asia-Pacific Project Sponsor of the Year, announced by Project Finance Magazine of Euromoney Publications on Monday.
The agreements between the four new companies transferred to Anil Ambani and his elder brother Mukesh's flagship company Reliance Industries may become the bone of contention.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
The court, however, reserved the order.
Reliance ADAG's Big Music and Home Entertainment is looking at garnering close to 40 per cent market share of home and music entertainment business in India.
Brand name Reliance finds a place in the prestigious American business magazine Forbes -- be it promoted by Ambanis or a company in the United States.
RTL had challenged Special Judge O P Saini's decision to put it on trial, saying it never held stakes in excess of 9.9 per cent in Swan Telecom and that too was divested prior to the grant of licences in 2008.
Reliance ADA Group on Monday said it will enhance its integrated power plants in Madhya Pradesh at an investment of Rs 20,000 crore and "will sell power to the state at Rs 1.19 a unit for the next 25 years".
Reliance MediaWorks, along with two other ADAG firms, has acquired a further 0.25 per cent stake in Fame India, hiking their combined holding in the multiplex chain to 15.28 per cent.
Reliance Power (R-Power), a Reliance-Anil Dhirubhai Ambani Group (ADAG) company, is close to finalising a gas-based power plant in Gujarat with a capacity of 7,000 Mw to 8,000 Mw. This would entail an investment of around Rs 30,000 crore, based on investment levels that are normally required for power projects at present.
Former Telecom Minister A Raja had "misled" then Prime Minister Manmohan Singh regarding policy of first-come-first-served which was to be followed for allocation of 2G spectrum, Central Bureau of Investigation on Monday told a special court.
Market regulator Sebi has issued show-cause notice to mutual fund companies of Anil Ambani Group.
Reliance Entertainment, controlled by the Anil Dhirubhai Ambani Group, is divesting a 5 per cent equity stake at an enterprise value of $1.5 billion (about Rs 6,000 crore).
The group has earmarked over Rs 4,000 crore (Rs 40 billion) to acquire coal mines in foreign countries.
Govt expects to award contract to the lowest bidder by February.
In partnership with different US firms, two companies belonging to Reliance Anil Dhirubhai Ambani Group (ADAG) have submitted competing bids for a single project floated by the Ministry of Coal.
The Reliance Anil Dhirubhai Ambani Group on Wednesday threatened to sue three top officials of Mukesh Ambani's Reliance Industries for breach of trust and their inability to protect the interest of shareholders of an ADAG company.
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
The Anil Ambani group has already readied a war chest for the new initiative.
Further the shareholders have accorded their approval for issue of bonus shares in 3:5 ratio, wherein three new equity shares would be alloted for every five existing equity shares held, the company added. The company had recommended the issue of 13.68 crore (Rs 136.8 million) bonus shares in the ratio of three new equity shares of Rs 10 each for every five existing equity shares of Rs 10 held by the shareholders of the company in the public category.
The Reliance Anil Dhirubhai Ambani Group has awarded a 5-year outsourcing contract to a Delhi-based call centre, Caretel Infotech, a part of Dalmiya group, for about Rs 300 crore.
Reliance Power (R-Power), which raised over Rs 12,000 crore (Rs 120 billion) in India's biggest initial public offering in January, will consider issuing bonus shares to its shareholders, excluding the promoter group.
All the corporate accused had challenged the special CBI court's order declining their bail pleas and directing their arrest on April 20.
Anil Dhirubhai Ambani Group's market capitalisation increased to Rs 86,000 crore (Rs 860 billion) following the listing of the group company -- Reliance Communication Ventures Ltd (RCoVL).
While making the announcement, Anil Ambani, chairman of ADAG, said, the partnership with Spielberg and Snider is the cornerstone of the company's Hollywood strategy.
The broker close to Ambani family, said that one of the biggest reasons for the truce to come about so swiftly was that it opens up new areas -- like financial services, telecommunications, media, among others -- for Mukesh Ambani to enter into. He said that the elder Ambani has ambitions to establish a major bank on the lines of private sector giants like ICICI Bank and HDFC Bank.
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