In a new twist to the gas dispute between Ambani brothers, the fertiliser ministry on Monday said private family agreements cannot over-ride national priorities.
'Govt to lose Rs 40,000 crore due to RIL's escalating costs'.
But RIL is yet to agree on the grounds that it is studying the implication of the judgement. On June 15, the Bombay high court gave the two companies a month's time to work out a firm gas volumes, price, timelines and other commercial details for sourcing the fuel from Krishna Godavari basin fields.
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
The hospital boasts of machines offering latest technology, rooms double the size of those offered in other parts of the country, and so on.
Reliance Power's plans are to set up a 7,480-Mw project, which will be the largest gas-fired power project at a single location in the world.
The Bombay high court, while pronouncing the verdict on the gas dispute on Monday, advised the Ambani brothers for the second time to settle their row in consultation with their mother.
On August 21, the division bench had suggested that the two warring sides should seek the help of their mother Kokilaben Ambani to resolve the issue. The billionaire brothers are fighting over supply of natural gas from RIL's eastern offshore KG gas fields.
The country's largest life insurer has been inundated with applications from companies, including heavyweights such as Reliance, as the deepening credit crisis forces India Inc to look for new sources of funds. Many companies are issuing NCDs largely to meet their working capital requirements as well as long-term capital expenditure plans.
DoT sources confirmed receipt of the report by auditors Parekh and Co and said that it is yet to examine the findings. DoT would ask for RCom's response later.
"We remain open to opportunities if appropriate valuations come up," said Reliance MF CEO Sundeep Sikka. Reliance MF, which is India's biggest mutual fund in terms of assets under management, has also become the first fund house to cross an average AUM of Rs 1 lakh crore. "Consolidation has already started in the industry and, going forward, only top 5-7 fund houses would command the major chunk of funds as investors will have confidence in large fund houses," Sikka said.
Anil Ambani Group firm Reliance Infrastructure has agreed to pay the levy, although under protest, and has asked the Mukesh Ambani firm to resume natural gas supplies to its power plant.
Reliance Communications launched a new 'Simply Reliance Plan' on its CDMA and GSM networks, which offers a single rate of 50 paise per minute across the country with no hidden charges.
While some bankers said that responses to the Sebi are being delayed deliberately in some of the cases in view of the turbulent market conditions prevailing on the bourses, those associated with some of these deals said these are 'routine' clarifications and would be responded in the due course. According to the latest processing status as on March 14 of draft offer documents filed with Sebi, clarifications are currently awaited from lead managers in relation to 20 IPOs.
The Ambani brothers -- Mukesh and Anil -- have emerged among the biggest beneficiaries of the people's mandate in favour of the Congress-led UPA government as their group companies added close to Rs 90,000 crore (Rs 900 billion) of wealth in just five trading sessions after the results were declared.
The shares of the Mukesh and Anil Ambani group companies were on fire on Monday following the brothers burying their hatchet, with RIL gaining 2.58 per cent and Reliance-Power rallying 7.86 per cent.
The Anil Ambani group, fighting a legal battle for securing 28 mmscmd gas for Reliance Natural Resources from RIL at a price of $2.34 per mmBtu under a family settlement, had last week questioned the marketing margin and had informed RIL that it would not pay the same.
Anil Ambani Group firm Reliance Capital on Wednesday said it is planning to enter the housing finance and non-banking finance businesses, for which it has already filed applications with the concerned regulatory authorities.
The portal - Mobile Financial Portal -- would offer corporate news, announcements, research reports and stock quotes to its customers across all mobile platforms, a company statement said.
RIL is relying upon the pleadings in RIL Vs RNRL case to support its defence against NTPC.
The acquisition will enable the Anil Ambani group company to foray into the African country. However, financial transactions of the deal were not disclosed.
Mukesh Ambani-led Reliance Industries on Friday said it may sell gas from its KG-D6 fields to RNRL at $4.20 per mmBtu if the government allocates fuel to the Anil Ambani Group firm.
After dropping "Kolkata" from Indian Premier League team Kolkata Knight Riders, actor Shah Rukh Khan has started discussions with Nokia, Sahara, the Anil Ambani group, and several other companies to sell the team he bought just over a year ago for Rs 300 crore, and exit the business.
Big Cinemas, is one of the biggest cinema chains in the country and currently has 457 screens spread across India, the US, Malaysia and the Netherlands.
The petroleum ministry is mulling filing a defamation suit against an Anil Ambani Group firm for persisting with 'false claims' pertaining to government revenues from Reliance Industries KG-D6 fields.
The mobile games will be available globally and the price points will vary from market to market. For instance, in India Jump Games will operate in two models pay-per-play and perpetual download.
Anil Ambani group firm Reliance Communications on Monday said its consolidated net profit rose by 11.91 per cent to Rs 6,044.93 crore (Rs 60.44 billion) for the year ended March 31, 2009, over the same period last year.
He worked on the Delhi electricity privatisation
A communication by RIL claiming its first right of refusal to buy a majority equity in RCom had triggered the latest round of fight in middle of Anil Ambani Group company's negotiation with South African telecom major MTN group for an estimated $70 billion amalgamation deal.
The project is for a concession period of 35 years with an extension clause of another 10 years, the company said in a statement.
Pointing out at the 'cooperation' and 'trust' shared between both India and France, Ambassador of France to India Alexandre Ziegler asked people to look at the facts.
This effectively means MTN will not talk to other potential bidders while discussions are on with the Reliance Anil Dhirubhai Ambani Group company. MTN had not agreed to a similar exclusivity agreement with Bharti Airtel, with which talks broke down following differences over control of the combined entity.
Anil Ambani group company Reliance Communications on Monday announced entering into an exclusive negotiations with South Africa's telecom giant MTN to discuss potential combination of their businesses.
Mukesh Ambani-run Reliance Industries on Saturday moved the Supreme Court challenging the Bombay high court judgement that asked it to supply gas to Anil Ambani Group's firm RNRL at a price of $2.34 per mmbtu.
Clearly, he is in the right place, at the right time.
The Anil Ambani group company has soft-launched the service in Mumbai, Delhi, Gujarat, Punjab Bangalore and Chennai. The company has provided GSM phones to its employees for testing the service, according to sources.
A top management team of Anil Ambani group firm RNRL got stood up by Reliance Industries officials, who neither responded nor turned up for a proposed meeting to follow up the Bombay high court order on gas supply.
Telecom tribunal TDSAT on Monday rejected a contempt application filed by Anil Ambani group company Reliance Communications against Cellular Operators Association of India, for allegedly taking the legal battle on spectrum for a media trial.
Anil Ambani group's Reliance Entertainment and DreamWorks SKG of acclaimed director Steven Spielberg have completed the much-talked about deal for jointly making Hollywood films.
"There are eight companies (who have put in expression of interest)... RNRL is one of them," said A K Ahuja, managing director, Ratnagiri Gas and Power Pvt Ltd, the company that operates the nation's biggest gas-fired power plant and the adjacent LNG import facility. Others in the fray include state power utility NTPC and GMR. Ahuja said RGPPL will frame the bidding criteria and call for financial bids by next month.
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