Within days of being named richest resident Indian by the US magazine Forbes, Reliance Industries Chairman Mukesh Ambani on Friday termed the hype over list of billionaires from the country as 'maya' (illusion). "There was much hype over the list of billionaires that India has thrown up. . . (but) this is a deceptive distraction," the head of the country's most valued corporate group said, while referring to the Forbes' worldwide billionaire list that included 53 Indians.
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd's chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the entities appealed before the tribunal against the order passed by the Securities and Exchange Board of India (Sebi) in January 2021. In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's chairman and managing director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
The letter, delivered by an unidentified person to Ambani's personal staff in a sealed envelope at his Maker Chambers office on February 24, also said IM would damage his 27-storey mansion 'Antilia' on Altamount Road, a police officer said on condition of anonymity.
Thanks to a continued rise in the market capitalisation of the Adani Group companies, its promoter Gautam Adani is now the second richest Asian and fourteenth richest businessman in the world with a networth of $66.5 billion. Reliance Industries promoter Mukesh Ambani remains the wealthiest businessman in Asia with a networth of around $76.5 billion, according to Bloomberg data. The six Adani Group companies had combined market capitalisation of Rs 8.36 trillion as on Thursday, against Reliance Industries' market capitalisation of Rs 12.6 trillion. Adani Green tops the charts in the group with m-cap with Rs 1.99 trillion.
The association of Mashelkar and Mukesh Ambani is not new.
Like many families with the means to do so, the Ambanis wanted to build a custom home.
With 14 buildings spread over 2.2 million sq ft of office space, the Dhirubhai Ambani Knowledge City can accommodate 10,000 people.
Reliance Industries is facing penalty for falling gas output from its KG-D6 fields.
Network 18-Eenadu is just the beginning of a bigger data and video strategy.
Reader Ananth Kamal sent us this photograph from New Jersey, USA.
Mukesh Ambani, who runs India's most-valued business empire Reliance Industries group, also saw the highest fluctuation of about $35 billion in his net worth over the past year, even as he trailed his estranged brother Anil as the world's second-biggest wealth creator. Mukesh, however, managed to maintain a slender lead of $1 billion over Anil in terms of net worth, as per a Forbes billionaire list released on Thursday. Forbes has ranked Mukesh as world's 5th richest man.
Rapid urbanisation must take into account environmental issues and make use of technology to provide better amenities in cities, Reliance Industries chairman Mukesh Ambani said on Friday.
Maharashtra SEZ act yet to be notified.
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.
Reliance Industries, the country's largest private oil company, is seeking oil and gas fields in Kurdistan.
Bollywood stars Shah Rukh Khan and Preity Zinta, industrialist Mukesh Ambani and liquor baron Vijay Mallya emerged successful bidders for Indian Premier League teams on Thursday.
Nitin Gadkari, national president of the Bharatiya Janata Party, had Reliance Industries chairman Mukesh Ambani to 'high tea' last evening at his Nagpur residence. The meeting was termed a 'courtesy call'.
After Moily took over as oil minister, the central government agreed to link prices with global indices.
Very little notice, however, has been taken of the fact that Reliance Gas Transportation and Infrastructure Ltd, which set up the pipeline network for transport of this gas which has had rival users clamouring for government priority, is no longer owned by RIL, but by the latter's chairman and managing director, Mukesh Ambani. The change took place three years earlier and went largely unnoticed, even though RGTIL is crucial for RIL's burgeoning gas business.
Reliance Retail, which started in 2006, runs over 1,000 stores across 86 cities.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
Details of what transpired in the meeting between the richest Indian and the prime minister were not immediately available.
Complimenting West Bengal government, Mukesh Ambani said, "We have got all the approvals in a time-bound manner."
Stanford University of US has commended Mukesh Ambani for his decade long support to students.
"Heartfelt congratulations to our Men's Hockey Team on winning bronze at the Paris Olympics," Ambani said.
Sounding confident that the economy will overcome the current crisis, Reliance Industries chairman Mukesh Ambani said there is a need to look beyond the gloom and doom.
This is not the first time Reliance has eyed a stake in the club.
Mukesh Ambani, chairman of Reliance Industries, and Subroto Roy, chairman of Sahara Group, are reportedly bidding for a 51 per cent stake in Liverpool football club -- one of the most successful clubs in the history of English football.
Liverpool is presently owned by American duo George Gillett and Tom Hicks, who acquired the club in February 2007.
Company's remuneration for top management personnel has declined.
The US-India Business Council (USIBC) will confer the 'Global Vision' 2007 award for leadership on Reliance Industries Ltd chairman Mukesh Ambani in Washington on Wednesday.
Investment banking sources said Reliance had made its desire clear to be a global petrochemicals major.
A big chunk of RIL's fresh investments worth Rs 150,000 crore will go into refining, petrochemicals and exploration.
Speaking at the 33rd convocation of the business school in Bangalore, Reliance Industries Chairman Mukesh Ambani said IIM-B graduates could make a change in the world of business. He said ethical values and moral leadership are dwindling in Indian businesses and IIM graduates should strive to fill the void of moral leadership. He stated that IIMs provide global leaders in today's knowledge economy. He also said IIM graduates have high calibre and India is benefitting from it.
Reliance Industries chairman and MD Mukesh Ambani on Tuesday announced an additional Rs 20,000-crore investment for West Bengal over the next three years. Ambani said the fresh investment will be in the areas of digital life solutions, retail and bio-energy.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Mukesh Ambani said broadband technology is providing access to opportunities irrespective of geographies.
