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.
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."
Anil Ambani and other promoters consolidated their stakes in REL to 52%.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Chinese banks -- China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) -- will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead.
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.
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.
Advani and Dr Joshi might not attend the consecration ceremony due to health and age-related reasons. Advani is 96 and Dr Joshi will turn 90 next month.
The younger Ambani sibling had a two-hour meeting with K V Kamath, chief of ICICI Bank and a friend of the family, who is said to be working out a formula to end the feud at the behest of Kokilaben Ambani.
Dubai Reliance Capital, the financial services arm of Anil Dhirubhai Ambani Group, plans to expand its operations in the Middle East, chief executive Sam Ghosh has said.
He worked on the Delhi electricity privatisation
In the global list of 793 richest people, 44 billionaires added to their net worth. Moreover, there are 38 new billionaires in the list, even as there was steep decline in stocks and real estate prices last year.
The government informed the Rajya Sabha on Thursday that Enforcement Directorate is looking into complaints of Foreign Exchange Management Act violations by Anil Dhirubhai Ambani Group, but no conclusion has been reached.
RCom's employee cost declined by 20.7 per cent.
Anil Ambani met Cabinet Secretary K M Chandrasekhar, Expenditure Secretary Sanjiv Misra and Fertiliser Secretary J Sreedhara Sarma to drum support against RIL's proposed pricing formula for natural gas from KG-D6 block off the east coast.
The Mayawati-led Uttar Pradesh Cabinet decided to refer the 1,200-acre SEZ proposal to New Delhi as it violated the contiguity norms laid down by it.
The entire proceeds from the sale of Reliance Centre will be utilised only to service YES Bank debt.
The younger Ambani sibling, Anil, on Monday sent an emotional farewell message to all the employees of Reliance Industries, from where he stepped down as vice chairman and managing director.
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 National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks.
ADAG slots Rs 1,200 cr for wind power plants
The 'Pran Pratishtha' of the idol of Ram Lalla -- the childhood form of Lord Ram -- will be attended by people from all walks of life, including representatives of major spiritual and religious sects of the country and of various tribal communities and prominent personalities.
The new Ram Lalla idol was consecrated at the Ayodhya temple on Monday, an event led by Prime Minister Narendra Modi and watched by lakhs of people on television at their homes and in temples across the country.
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.
The Cabinet Committee on Economic Affairs on Friday cleared award of four Coal Bed Methane (CBM) blocks to an Anil Dhirubhai Ambani Group-led consortium and three blocks to a consortium led by Australia's Arrow Energy.
Petroleum ministry has rejected Reliance Industries Limited's plan to sell natural gas to Anil Ambani Group firm Reliance Natural Resources Ltd at less than half the market price.
Reliance Communications will invest $60 million in Saudi Arabia to connect the kingdom and other Gulf states with 53 countries around the globe on its fibre optic network and provide value-added services to its network users. \n\n
Anil Dhirubhai Ambani Group on Wednesday announced the process for listing of the four new companies, which were transferred by Mukesh Ambani group to them on Tuesday, will begin next week.
India is considering allowing new private sector banks, including by industrial houses, and a roadmap for the same could be announced in the annual Union Budget to be presented later this month.
She took to Instagram to share lovely pics from Anmol and Khrisha's wedding.
