Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
Anil Ambani, chairman of the Reliance ADA Group, on Monday denied that the Securities and Exchange Board of India (Sebi) had banned his two group companies, Reliance Infra and Reliance Natural Resources, or their directors from participation in the capital market for any period.
Sources said the letter of intent (LoI) for the group's foray into DTH was given on Monday to Blue Sky Magic, a company of the Reliance-ADA group.\n\n
'The transactions were done in a circuitous route deliberately and most of the companies involved in it are Reliance ADA group firms.'
Reliance ADA Group Chairman Anil Ambani was on Thursday exempted by a Delhi court from personally appearing before it on Friday as a prosecution witness in the 2G spectrum allocation case.
Reliance ADA Group on Monday said it will enhance its integrated power plants in Madhya Pradesh at an investment of Rs 20,000 crore and "will sell power to the state at Rs 1.19 a unit for the next 25 years".
In contrast to their lavish lifestyle, all the five spent their night in a 90 square feet Tihar prison cell.
Anil Ambani-led Reliance Communications on Monday announced the launch of Braille Bill service for providing postpaid bills to the visually impaired.
Leading Indian companies are considering whether to bid for the India cricket team sponsorship for the next three years. The deadline for doing so is Saturday.
RIL, ADAG cancel 2006 non-compete agreements, hope to work in harmony
Reliance Big Entertainment, a part of the Reliance ADA Group, has acquired a majority stake in Los Angeles and London-based international film sales company IM Global for an undisclosed amount.
Gautam Doshi, Surendra Pipara and Hari Nair, senior executives of the Reliance ADA Group who were granted bail on Wednesday by the Supreme Court in the 2G spectrum scam case, will provide major relief to their high-profile boss Anil Ambani.
The website will now be repositioned as an e-commerce portal such as eBay.
Reliance ADA Group chairman Anil Ambani has been allowed to meet two senior executives of his parent company now lodged in Tihar prison who were arrested in connection with 2G scam case.
BIG Cinemas made major renovations and re-opened Movie City in Edison, New Jersey.
The director leaves Viacom's Paramount studio for a $1.2 billion deal to launch his own filmmaking company with the India entertainment group.
The Anil Ambani group asked on Wednesday market regulator Securities and Exchange Board of India to probe a "disinformation campaign" launched by some "vested interests" against the planned Reliance Power IPO, estimated to raise up to Rs 12,000 crore (Rs 120 billion). "A formal complaint has been filed with Sebi to investigate the disinformation campaign launched against Reliance Power IPO," a Reliance ADA group spokesperson said in a statement.
The Ambani brothers are locked in a bitter battle over the supply and price of the gas from KG basin.
Anil Ambani group firm Reliance Big Entertainment on Sunday made its foray into Hollywood, with the announcement of development deals with celebrities including Angelina Jolie, Julia Roberts, Brad Pitt and Nicolas Cage. Reliance Big Entertainment, the media and entertainment company of the Reliance ADA Group, said that it will provide development funds to eight Hollywood production houses. sources said the investment would be in the range of US$ 500 million to US$ one billion
MapmyIndia has the first mover's advantage but with players like SatNav Technologies, Reliance ADA group and Google, the competition is hotting up.
Key shareholders of low-cost airline SpiceJet have rejected an offer by the Reliance ADA Group to pick up a 51 per cent stake in the airline for Rs 40-45 per share. The offer was made last week.
Anil Ambani's Reliance ADA Group formalised its association with DreamWorks Studios promoted by Hollywood director Steven Spielberg and his partner Stacey Snider.
Anil Ambani-group run Reliance Technology Ventures Limited (RTVL), on Tuesday said that it has invested in the Seattle-based, early-stage company, Pelago Inc.RTVL, however, did not disclose the amount invested in the US company. RTVL is the corporate venture capital arm of the Reliance ADA Group and a wholly-owned subsidiary of Reliance Capital.
Reliance ADA Group announced the launch of its online casual gaming portal Zapak.com on Saturday.
To expand its services in the five-player private direct-to-home market, Reliance Big TV Ltd, the promoter of Big TV DTH services of the Reliance ADA Group, plans to sell up to 49 per cent to foreign private equity companies and global DTH players.
Competition with online international networks hots up in cyberspace.
Having received permission to expand the asset management business to Singapore and the United Kingdom, Reliance ADA Group is also planning to enter the Gulf market via Dubai International Finance Centre. In addition, it wants to take its life insurance business overseas. By the end of the year, the group is planning to seek at least one licence in either South-East Asia or West Asia.
Zapak Digital Entertainment Limited, a Reliance ADA Group venture, formally launched India's first full-feature online multiplayer cricket game in New Delhi on Tuesday.
Bigflicks.com has about 1,000 movies, downloadable for $2 to $15.
Trai has announced that it may fix prices of pay channels on the direct-to-home (DTH) platform in line with the Rs 5 per channel cap on conditional access system (CAS) services in Delhi, Mumbai and Kolkata. This move will lower the fees but hit the income of broadcasters from DTH companies. However, new DTH entrants will benefit from the move as their cost of content will decrease. For the 2 existing DTH companies, Dish TV & Tata Sky, the current rates are likely to continue.
The next time you walk into a pizza joint don't be surprised if you see 'ZaPizza' on the menu.
The company will now focus on value creation for shareholders in the defence and construction businesses.
Reliance was the highest bidder at Rs 63 cr for the 5 airports project.
All India Congress Committee General Secretary Sanjay Nirupam on Saturday threatened to immolate himself if his demand for reduction in power tariff in Mumbai was not accepted.
On the telecom sector, he demanded auctioning of more spectrum.
Commodity exchanges are all restructuring their boards of directors, after the recently issued guidelines of the Forward Markets Commission.
A Delhi court on Saturday issued fresh summons to Reliance ADA Group Chairman Anil Ambani and his wife Tina Ambani to appear as prosecution witnesses before it next month in the 2G spectrum allocation case.
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