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 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.
Reliance Group chairman Anil Ambani did not appear before the Enforcement Directorate for questioning in a money laundering case linked to an alleged bank fraud. The ED is investigating loan fraud allegations against multiple Anil Ambani group companies.
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.
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.
RCom's employee cost declined by 20.7 per cent.
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.
The Reliance-Anil Dhirubhai Ambani Group on Friday announced a tentative schedule for merger of two firms transferred from Mukesh Ambani group.
Multiple residential units are being developed for housing senior executives of Reliance Anil Dhirubhai Ambani group at a plot in Pali Hill of Bandra.
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.
Finance Minister Pranab Mukherjee's Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani's dream of entering the banking sector.
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 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.
Branded Mobi-Retail, this service will be offered to the 35 million subscribers of Reliance Communications, who will be able to use their handsets to buy over 100,000 products ranging from fresh vegetables to groceries, readymade garments, toys etc.
There's talk that the Reliance Anil Dhirubhai Ambani Group is eyeing a minority stake in the carrier. It's also possible that private equity players like Texas Pacific Group may want a slice of the low-cost carrier's equity.
The Reliance Anil Dhirubhai Ambani Group (R-ADAG) has chalked out a roadmap for its online and offline video rental business - BigFlicks - which works on the lines of the US video rental distribution network - Blockbuster. The group plans to raise the number of such stores to 500 across 35-40 cities by April 2009 from the current 22 stores in 6 cities.The retail video service had a soft launch last year following the video-on-demand portal BigFlicks' launch in August 2007.
In Mumbai, Reliance Health Venture has already acquired the Mandke hospital, which will be converted into a 650-bed super specialty hospital with six divisions.
'Govt to lose Rs 40,000 crore due to RIL's escalating costs'.
Sources said that the Malaysian prime minister invited Ambani to invest in sectors like power, media and financial businesses.
Big TV will be the fourth entrant in the 7-million private DTH subscribers market following Dish TV's launch in 2003, Tata Sky (2006) and Sun Direct (2007). Doordarshan's DD Direct Plus is the fifth player (also launched in 2003) but is a free-to-air service.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
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!
The Reliance Anil Dhirubhai Ambani Group plans to develop Baramati, about 100 km from Pune, as a hub for private jets, with airports in Mumbai and Pune facing acute shortage of parking bays. Baramati is also the home town of Union agriculture minister and Nationalist Congress Party chief Sharad Pawar.
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.
Last month, then Delhi Chief Minister Arvind Kejriwal had ordered a CAG scrutiny of private power distribution companies.
The company will structure its services under four business segments -- Data, voice, WiMax and National Long Distance services -- that would help it increase focus on customer segments and improve revenue generation. The group will realign operations of Reliance Globalcom (formerly Flag Telecom), Reliance Globalcom Services (earlier acquired Yipes Enterprises) and Reliance Vanco Group (formerly Vanco Group) under the four proposed verticals.
Reliance Comm wants all of Hutch Essar at one go.
Two days after assuming the charge of the companies demerged from the Reliance conglomerate, Anil Dhirubhai Ambani Friday announced his first project -- Dhirubhai Ambani Institute of Information Technology.
Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
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