From custom-made luxury sedans to fast and furious supercars, India's billionaires rule the roads
On the directions of the Supreme Court, the special crime unit of the central agency registered the cases late Tuesday evening.
The CRPF, the country's largest paramilitary force, has been providing security to about 60 dignitaries and high-profile persons, including Union Home Minister Amit Shah, Chief Justice of India SA Bobde, Congress chief Sonia Gandhi and her children Rahul and Priyanka.
The world's most expensive billionaire home is in Mumbai.
After agreeing to sell 30 per cent stake in the 23 blocks in India to BP, Mukesh Ambani is reportedly looking for buyers for its gas transportation and marketing company.
Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
And Sachin Tendulkar came by to cheer!
Deshmukh made the comment in a midnight tweet and also shared the copy of his March 21 letter to Thackeray, in which he had sought immediate probe into Singh's allegation.
India's richest businessman, Mukesh Ambani is ranked at 33 with a salary of Rs 15 crore (Rs 150 million) annually.
The FIR was registered against Deshmukh and some unidentified persons on April 24 this year on charges of corruption and misconduct following a preliminary inquiry that the CBI conducted in compliance with the high court's order.
It could well be one of the richest weddings this year.
A special National Investigation Agency (NIA) court in Mumbai on Saturday granted bail to Naresh Gaur, a cricket bookie, arrested for his alleged role in the Antilia bomb scare and businessman Mansukh Hiran murder case but stayed the order after the prosecution prayed that they wanted to challenge it before a higher court.
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
The driver of that car, a private cab, was brought to the Azad Maidan police station for questioning after the vehicle were traced to neighbouring Navi Mumbai late Monday night, the official said.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
Billionaire Mukesh Ambani's Reliance Jio on Friday announced deferring the roll-out of the JioPhone Next - the low-priced smartphone it has developed with Google - to Diwali. The phone was previously to be launched on September 10. Ambani at the shareholder meeting of his flagship Reliance Industries in June, had stated that the JioPhone Next will be available for purchase on September 10.
A special NIA court in Mumbai on Thursday allowed former police officer Sachin Waze's plea to shift him to a private hospital in Mumbai for treatment of his heart ailment and surgery.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
The 20 richest people on the planet are worth a staggering USD 1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
Mukesh Ambani continues to remain the richest man in India.
Foreign institutional investors (FIIs) have raised stake in billionaire Mukesh Ambani-led Reliance Industries to a record 25.2 per cent in the quarter ended September 30, according to the company's regulatory filing. Reliance Industries (RIL) on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30.
The celebrations have begun for the next big fat wedding in town.
In spite of Mukesh Ambani, Gautam Adani, the Poonawallas and many other Indians seeing a jump in their net worth in the pandemic-hit 2020, overall wealth of the country's super-rich dipped 4.4 per cent to $12.83 trillion in the year due to the rupee's fall, and so did their tally, says a report. The number of dollar millionaires in India fell from 7,64,000 in 2019 to 6,98,000 solely because of the rupee's fall, while their cumulative wealth stood at $12.833 trillion, down $594 billion or 4.4 per cent from the previous year, according to the report by Credit Suisse Research Institute. The country is home to just 1 per cent of the global rich, whose number rose by 5.2 million to 56.1 million in the COVID-hit year. However, the report expects the number of millionaires in India to soar 81.8 per cent to 1.3 million by 2025.
Global markets trends, inflation, release of industrial output data and quarterly earnings will dictate movement of the equity benchmarks this week, analysts said, adding that volatility might continue amid slew of announcements of macroeconomic data at the global level too. Moreover, foreign fund movement, crude oil prices and trend in rupee would also act as major drivers for the equity market, they added. "The direction of global equity markets along with movement in dollar index and crude oil prices will continue to dominate while inflation numbers of the USA on May 11 and inflation and IIP numbers of India on May 12 will also cause volatility in the market," said Santosh Meena, head of research, Swastika Investmart Ltd.
It is not clear if it was the same Innova that was following the explosives-laden Scorpio before the latter was parked near Ambani's residence in south Mumbai on February 25.
Russia is the worst but India is not too far behind
I went to the NIA office on my own and was arrested, the police officer said, adding he had not confessed to anything.
Dismissed police officer Sachin Waze on Tuesday told an inquiry commission that the time he spent in the National Investigation Agency's custody following arrest in the Antilia bomb scare case was the 'most traumatic time' of his life, and claimed he had signed various documents 'under duress.'
The former police chief also said that the Home Minister had on several occasions instructed police officers on how to handle cases and file charges.
Shiv Sena chief Bal Thackeray has attacked industrialist Mukesh Ambani over his recent statement that Mumbai belongs to all Indians. "Marathi people have as much right over Mumbai as Mukesh Ambani has over the Reliance companies," Thackeray said in an article published in Sena mouthpiece Saamana.
The IPS officer who is facing several extortion cases in Maharashtra had told news channels on Wednesday that he was in Chandigarh.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Former Mumbai Police Commissioner Param Bir Singh on Wednesday has been called by NIA to record a statement in Sachin Waze's case.
Among the many exits from the billionaire's club in 2022 are D Uday Kumar Reddy of Tanla Solutions (net worth down 66 per cent), Sushil Kanubhai Shah of Metropolis Healthcare (down 65.7 per cent), Vijay Shekhar Sharma of One97 Communications (down 66 per cent), and C K Birla (down 43.4 per cent).
News, as a business, faces its biggest crisis ever, globally. To fight it needs investment in feet-on-the-ground journalism, tech tools like artificial intelligence among other things.
One more case has been registered against former Mumbai police commissioner Param Bir Singh for allegedly extorting money from the relative of a builder and kidnapping him for ransom, the police said on Friday.
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