After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
An Enforcement Case Information Report (ECIR), the ED's equivalent for a police FIR, has recently been filed by the federal probe agency, taking cognisance of a CBI complaint registered on August 21, the sources said.
If the Somnath temple, which was attacked 1,000 years ago and faced continuous attacks thereon, could rise again and again, then we can surely restore our great nation to the glory it embodied 1,000 years ago before the invasions, asserts Narendra Modi.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fifth year in a row and dividends remain his main source of earnings. Ambani, 68, 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.
Amid escalating India-US trade tensions, Nita Mukesh Ambani Cultural Centre -- the tony cultural event outfit run by billionaire Mukesh Ambani's wife -- has postponed next week's theatrical event in New York, citing "unforeseen circumstances".
Mukesh Ambani has reclaimed his position as the richest Indian, overtaking Gautam Adani, according to the M3M Hurun India Rich List 2025 released on Wednesday. With a wealth of Rs. 9.55 lakh crore ($105 billion), the 68-year-old Reliance chairman returned to the top spot, while Adani, 63, and his family followed closely with Rs. 8.15 lakh crore.
Breakthroughs in Artificial Intelligence and allied deep technologies are boosting productivity, efficiency and human potential to unimaginable levels, Reliance Industries chairman Mukesh Ambani said on Friday describing the "miraculous power" of AI as new 'kamdhenu', the divine wish-fulfilling cow.
From handwoven saris to custom-designed festivewear, see how your favourite stars attended Swadesh's launch in Mumbai.
The 2025 contraction marks the steepest decline in both the number of billionaire promoters and their aggregate wealth since 2012.
Reliance Jio, India's biggest telecom operator, is planning to launch an initial public offering (IPO) and listing on bourses in the first half of 2026, billionaire Mukesh Ambani said on Friday. Jio is currently a unit of Reliance Industries Ltd, India's most valuable company.
Reliance Industries has built four high-powered growth engines of retail, digital services, media and entertainment, and new energy to propel the conglomerate's next phase of expansion, Chairman Mukesh Ambani said. Parallelly, Reliance is reshaping itself into a new-age deep-tech enterprise, he said in a message to shareholders in the firm's latest annual report.
Billionaire Mukesh Ambani on Thursday termed the second-generation GST reforms as a big booster to consumption-driven growth while his firm promised to pass on the benefit of the cut in tax rates to consumers.
Film folk are busy celebrating Ganpati by visiting their friends' homes, pandal-hopping or simply at home.
Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
The Central Bureau of Investigation has filed a case against Reliance Communications and its promoter-director Anil Ambani, for an alleged bank fraud that caused a loss of over Rs 2,000 crore to State Bank of India, officials said on Saturday. The agency is carrying out searches at the residence of Anil Ambani and premises linked to RCOM in connection with the case, they said.
Mumbai witnessed an event dipped in heritage and glamour as Nita Ambani unveiled the Swadesh flagship store, a space built to honour India's finest master artisans and their craft legacies.
'If I was the India chief selector, I would have convinced Mukesh Ambani (Mumbai Indians owner) and Bumrah that it was important for Bumrah to miss the IPL for the England series, or play a lesser number of matches in the IPL.' 'I'm sure that they would have agreed to do so.'
'...we carry all this love with us, and we will definitely return, hopefully one day to play a match or on another occasion, but we will definitely return to visit India.'
Movie folk rubbed shoulders at the Global Peace Honours 2025 event in Mumbai over the weekend.
Former India player Robin Uthappa called for a bold revamp of the Indian Premier League by getting rid of the annual player auctions and having trade windows open throughout the year.
The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning in a money laundering case linked to alleged bank loan fraud.
The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
The Ambani family, headed by billionaire Mukesh Ambani, possesses a wealth of Rs 28 lakh crore, more than double that of the Adani family at Rs 14.01 lakh crore, a report said on Tuesday. The 300 most valuable Indian families have a wealth of over $1.6 trillion (over Rs 140 lakh crore), or more than 40 per cent of the country's GDP.
Reliance 4IR Realty Development, a unit of Mukesh Ambani's Reliance Industries, paid a Rs 86.5 crore 'development fee' to license the Trump brand for a forthcoming real estate project in Mumbai.
Indian multinational conglomerate Reliance Industries and Surrey County Cricket Club on Wednesday announced their partnership in The Hundred and expectedly renamed the franchise MI London.
The Enforcement Directorate on Thursday conducted simultaneous raids as part of a money laundering investigation linked to an alleged bank loan fraud of Rs 3,000 crore against Anil Ambani group companies and Yes Bank, official sources said.
Reliance Industries (RIL), India's largest conglomerate, is set to pivot into a deeptech and advanced manufacturing enterprise, chairman and managing director (CMD) Mukesh Ambani said. "In artificial intelligence, our purpose is clear: to address complex societal challenges and create wealth for the nation and its people.
Jennifer Lopez sang, Ranveer Singh danced, Janhvi Kapoor, Varun Dhawan, Shahid Kapoor, Kriti Sanon, Jacqueline Fernandez, Nora Fatehi performed at American businessman Rama Raju Mantena's daughter, Netra Elizabeth's Udaipur wedding with tech entrepreneur Vamsi Gadiraju.
Reliance Industries chairman and managing director Mukesh Ambani announced an unconditional grant of Rs 151 crore to his alma mater the Institute of Chemical Technology, Mumbai. Ambani had graduated from ICT in the 1970s.
ICICI Securities expects Jio Platforms' ensuing IPO to fetch "premium valuations", as was the case in the high-profile equity raise of FY21, and has pegged the company's equity value at $148 billion by September 2027.
State Bank of India has decided to classify the loan account of beleaguered telecom firm Reliance Communications as "fraud" and to report the name of its erstwhile director -- Anil Ambani to the Reserve Bank of India (RBI), according to a regulatory filing. Reliance Communications in a regulatory filing said that it has received a letter dated June 23, 2025 from the State Bank of India (SBI) to this effect.
Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed executive director on flagship Reliance Industries, will be paid Rs 10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice. While the richest Asian's all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three was in April this year appointed executive director of Reliance Industries Ltd.
'Instead of one or two families controlling 10% to 15% of GDP, it has to be broad based. Then, the resilience of the economy also will be higher.' 'Then, if something happens to one business, it will not hurt the economy badly.'
Several film folk paid their last respects to Sanjay Khan's wife Zarine Khan, as she passed into the ages on November 7. The funeral was held at the Juhu crematorium in northwest Mumbai.
Billionaire industrialist Mukesh Ambani described his 2016 return to the telecom industry with Reliance Jio as the "biggest risk" of his life, saying that even if analysts' predictions of financial failure had come true, it would still have been worth it for the role it played in transforming India digitally.
Film folk mourned Zarine Khan and condoled with her family at her prayer service on November 10 at Mumbai's JW Marriott hotel.
'I met her when I was 18, she was 14,' Sanjay Khan said emotionally at the prayer service for his late wife Zarine Khan.
'What the government is doing would be a drop in the ocean. It has to be matched by investments by industry.'
Shiv Nadar and family donated Rs 2,708 crore (Rs 27.08 billion) in 2024-2025.
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