RIL has also appointed McKinsey senior advisor Adil Zainulbhai as independent director and Network 18 Media & Investments (NW18) former promoter Raghav Bhel as a non-executive director on the NW18 Board.
'Kindly advise about the following stocks. Can I hold or exit?'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
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.
A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) attaching a residential flat worth Rs 1.54 crore in Mumbai's Worli, and 25 land parcels valued at Rs 2.67 crore in Dhutum village in Raigad district.
Telecom major Reliance Communications plans to monetise its real estate assets as it looks to pare debt.
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
The success of Anil Ambani's ambitious defence plan will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether the PM can get India's notoriously slow procurement process to work, say Paritosh Bansal, Sanjeev Miglani and Promit Mukherjee.
Scottish explorer Cairn Energy Plc rejected state-owned Oil and Natural Gas Corp's $200 million bid to acquire its oil and gas properties on east and west coasts of India.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
Delhi Police claims that the FIR reveals serious cognizable corruption & cheating offences, so matter is within its jurisdiction.
If the deal is indeed being considered, this will be the first time that Ambani will be putting his money in a print media venture since he and his younger brother, Anil Ambani, split businesses to form their own groups
From Rafale relief to heat on realtors, 10 landmark Supreme Court judgments in 2018.
The usage of PET bottles by a handful of wine makers is set to take the drink to the masses, thanks to a packaging solution offered by Manjushree Technopack Ltd, a Bengaluru-based manufacturer of PET bottles and performs.
There will be tripartite pact with member, bank/housing agency and EPFO.
Markets recorded their biggest single-day fall since August 1 amid growth concerns in the euro zone.
The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.
Mumbai police chargesheets billionaire-builder Chandru Raheja for cheating, breach of trust; Rahejas call it pressure tactic, say Wadia plea was thrown out by Supreme Court
Stressing on the 'Make in India' initiative, a Ministry of Defence appointed committee has recommended enhanced private sector involvement by granting manufacturers tax and import concessions.
Anant Gupta, HCL Technologies' chief has an amazing success formula to get things done.
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