Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
The trading has come to a halt on speculations that the company's IPO is unlikely to hit the market by the second week of December.
The company clocked a revenue of Rs 1,983.93 crore (Rs 19.83 billion) in April-June 2007-08 as against Rs 1,325.97 crore (Rs 13.25 billion) in the corresponding quarter of the last fiscal.
Letter to telecom secretary alleges Jio is masquerading full-blown services in the guise of a trial; no word from Reliance.
Uttar Pradesh Chief Minister Mayawati on Friday said all major decisions of the previous Mulayam Singh government, including Reliance Energy's Dadri power project, would be reviewed.
In 2006, CBI registered a case against six top officials, including Manoj Modi, of Reliance Infocomm which has now been transferred to the Anil Ambani group as part of the family settlement that divided the Reliance Empire.
On June 27, the boards of GTL, RCom and its subsidiary Reliance Infratel Ltd had given in-principle approvals to the Rs 50,000-crore ($11 billion) merger deal to create the world's largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator.
Reliance Communications has sought government approval for sponsoring a secondary Global Depository Receipts offering of up to $1.2 billion, representing 6.53 per cent of the total paid-up equity shares of the company.
Reliance Energy Limited started work at the project site of 7,480 MW gas-fired Dadri power plant in Uttar Pradesh on Thursday.\n
Anil Dhirubhai Ambani group company Reliance Energy said on Tuesday the amalgamation of Reliance Energy Ventures Ltd with itself has become effective from July 17.
A bench headed by Chief Justice K G Balakrishnan posted the matter for hearing on January 29 as some of the farmers had filed a caveat and were given the opportunity to contest the appeal filed by Reliance Power Ltd.
Contrary to a lot of speculation reported in certain sections of media, Reliance Energy on Tuesday clarified that customer do not have to pay any charge for replacing the meters damaged by rains.
Reliance Industries has acquired 1,36,22,707 equity shares of Reliance Energy from Reliance Industrial Investments and Holdings, a wholly-owned subsidiary of the company, on June 30 2005.
The Sensex, which crossed the 6,670 levels shortwhile ago, is now up 59 points at 6,662 as buying remains steady in select heavyweight and tech stocks. Auto and power stocks continue to attract buying support.
The Mukesh Ambani-controlled Reliance Infocomm on Sunday said it had invested over Rs 14,000 crore towards rolling out its information and communication infrastructure, and dismissed allegations of huge bad debt.
The financial bids will be opened on Wednesday along with the technical bids for Bareilly. Torrent had quoted highest rates at Rs 2.17 per unit, followed by JUSCO at Rs 2.16 per unit for Kanpur.
Shares of Reliance Infrastructure and Reliance Natural Resources Ltd on Tuesday tanked in the range of 4-8 per cent on the bourses after reports surfaced that these two ADA Group firms are involved in fraudulent banking activities overseas.
In the termination letters, RIL mentioned that the business has been impacted by the slowdown and the company was not in a position to continue with their employment. Employees who would resign will get one month's salary as compensation. When contacted, an RIL spokesperson declined to comment on the development.
The Enforcement Directorate (ED) on Thursday arrested former Fortis Healthcare promoter Shivinder Mohan Singh in a money laundering case related to the alleged misappropriation of funds at Religare Finvest. A team of ED officials went to Tihar Jail and placed Singh under arrest as per the provisions of the Prevention of Money Laundering Act.
Further the shareholders have accorded their approval for issue of bonus shares in 3:5 ratio, wherein three new equity shares would be alloted for every five existing equity shares held, the company added. The company had recommended the issue of 13.68 crore (Rs 136.8 million) bonus shares in the ratio of three new equity shares of Rs 10 each for every five existing equity shares of Rs 10 held by the shareholders of the company in the public category.
Anil Ambani Group company Reliance Energy, top conglomerate Tatas and engineering giant L&T are among the shorlisted bidders for upgradation of Amritsar and Udaipur airports, financial bids for which will be invited by month-end. Airport Authority of India (AAI) had shortlisted five bidders each for the two airports. AAI will invite the request for proposals by month end and the outcome of this will be known possibly by middle of June. Fraport and Lanco are also shortlisted.
Anil Ambani group firm Reliance Energy on Tuesday said it has bought shares worth over Rs 230 crore, representing nearly 30 per cent of the buyback offer.Reliance Energy bought back 81,680 equity shares on Tuesday, it added. The last date for the buyback would be March 4, 2009, a year from the date of the Board's approval for the offer.
The commercial capital of India, which enjoys 24x7 power unlike any other cities of the country, is likely to suffer power cuts this summer owing to a dispute between the power distribution utilities Brihanmumbai Electric Supply and Transport and Reliance Energy Ltd over who should foot the bill for 300 Mw of power which is required to be bought to keep Mumbai free from power cuts.
Sensex on Friday closed with a loss of 3.4% (567 points) at 15,975. It had opened with a huge negative gap of 330 points at 16,212 on weak global cues. Reliance Energy (REL) dropped 13% to Rs 1,270. HDFC, Mahindra & Mahindra and Tata Motors slipped 4.5% each to Rs 2,629, Rs 665 and Rs 672, respectively. Reliance Communication, Hindustan Unilever and Bharti Airtel were the gainers. Reliance Natural Resources led the volume chart with trades of around 2.19 crore shares.
The Sensex finally ended with a marginal gain of 20 points at 17,826. The Nifty was down two points at 5,268.
Reliance Money has launched its UAE arm and plans to tap 1 lakh customers there.
The lone public sector player Life Insurance Corporation fared much better than its private sector peers did.
The Anil Ambani group asked on Wednesday market regulator Securities and Exchange Board of India to probe a "disinformation campaign" launched by some "vested interests" against the planned Reliance Power IPO, estimated to raise up to Rs 12,000 crore (Rs 120 billion). "A formal complaint has been filed with Sebi to investigate the disinformation campaign launched against Reliance Power IPO," a Reliance ADA group spokesperson said in a statement.
The CBI in 2006 had registered a case against six top officials, including Manoj Modi, of the company, which has since then been transfered to Anil Ambani as part of family settlement to divide Reliance Empire.
Corporate leaders like Reliance Energy and Tata group have evinced interest in Punjab government's proposed three power plants of 5,000 mw - a move that will make the state power surplus within three and half years.
The only company left in the race for the Rs 2,600-crore (Rs 26 billion) project is Mukesh Ambani-controlled Sea King Infrastructure Ltd as other bidders have withdrawn from the race.
GE Money India said on Monday it is talking to big retailers including Bharti-Wal-Mart and Reliance for offering credit programmes such as the private label credit card it has provided to Tata Group.
After the controversy over pricing of gas from the Krishna-Godavari basin, the Ambani brothers are locked in another court battle.
The Exim Bank of the US denied loan guarantees to Reliance's coal-fired power plant and a mine in India last week, citing adverse environmental impact as the reason.
Reliance Infratel, the tower business of Anil Ambani-controlled Reliance Communications, is learnt to be in talks with another tower firm GTL to part-sell its stake and also combine the businesses of both entities.
The power ministry is considering asking Reliance Energy to match the price offered by the Lanco Infratech-Globeleq consortium for power from the Sasan ultra mega power project.
That the Anil Ambani-owned Reliance Energy Limited (REL) will be affected by the Allahabad High Court's decision on the land acquired by it for its 7,500 Mw Dadri power plant is obvious since the entire process of inviting objections to the acquisition has to be initiated from scratch.
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