The Enforcement Directorate has issued fresh summons to Reliance Group chairman Anil Ambani to appear for questioning on February 26 after he skipped deposition this week, official sources said on Thursday.
The Supreme Court on Friday issued fresh notices to Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the firm and its group companies.
In a significant development, the Supreme Court on Tuesday sought responses from the Centre, CBI, ED, Anil Ambani and the Anil Dhirubhai Ambani Group (ADAG) on a PIL seeking a court-monitored probe into alleged massive banking and corporate fraud involving the ADAG and its group companies.
Reliance ADAG is diversifying its services for stability and investing in Hollywood to reach scale.
'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 is also planning to develop the railway infrastructure for transporting coal.
A CBI chargesheet bares the extent to which companies associated with Reliance ADAG allegedly indulged in financial subterfuge through a complex maze of transactions.
R-ADAG has taken on board Ashutosh, the business head of Sahara One and Entertainment's Hindi movie channel Filmy, as the COO for its upcoming movie channels.
The website will now be repositioned as an e-commerce portal such as eBay.
Reliance ADA Group announced the launch of its online casual gaming portal Zapak.com on Saturday.
Former Telecom Minister A Raja had "misled" then Prime Minister Manmohan Singh regarding policy of first-come-first-served which was to be followed for allocation of 2G spectrum, Central Bureau of Investigation on Monday told a special court.
CBI had to cross-examine him as Ambani 'changed his statement'.
Govt expects to award contract to the lowest bidder by February.
The court, however, reserved the order.
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".
RTL had challenged Special Judge O P Saini's decision to put it on trial, saying it never held stakes in excess of 9.9 per cent in Swan Telecom and that too was divested prior to the grant of licences in 2008.
There's an undercurrent of fear in business circles these days
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
Creating a new image for the client concerned, while making him disappear from the public domain for some time, are among the strategies that often work.
Here are some of the top executives and politicians who have been linked to the 2G spectrum scam in India.
The CBI on Wednesday called Loop Telecom, CEO Sandeep Basu, Chairman of Shyam group Rajiv Mehrotra, former telecom minister A Raja's brother A K Perumal and close aide Sadiq Batcha, for questioning in relation with the 2G spectrum scam.
All the corporate accused had challenged the special CBI court's order declining their bail pleas and directing their arrest on April 20.
The burgeoning Indian market, if handled smartly, offers a challenging opportunity for value creation.
During their twice-a-week meetings (interview in jail parlance) with family and visitors, these executives are also permitted to get home-cooked food. That's about all as far as luxury goes.
Anil Ambani-led Reliance companies have bagged three awards including the Asia-Pacific Project Sponsor of the Year, announced by Project Finance Magazine of Euromoney Publications on Monday.
Reliance Power (R-Power), a Reliance-Anil Dhirubhai Ambani Group (ADAG) company, is close to finalising a gas-based power plant in Gujarat with a capacity of 7,000 Mw to 8,000 Mw. This would entail an investment of around Rs 30,000 crore, based on investment levels that are normally required for power projects at present.
The broker close to Ambani family, said that one of the biggest reasons for the truce to come about so swiftly was that it opens up new areas -- like financial services, telecommunications, media, among others -- for Mukesh Ambani to enter into. He said that the elder Ambani has ambitions to establish a major bank on the lines of private sector giants like ICICI Bank and HDFC Bank.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
Prime Minister Manmohan Singh is likely to discuss the impact of global demand contraction on Indian economy with industry leaders in New Delhi on Saturday, ahead of the G-20 summit in London next week.
In the two weeks since the terror attacks in Mumbai, most of the large Indian business groups in the city have been conspicuous by their absence in offering help to terror victims.
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.
Reliance Power has complained to Sebi of sabotage threats, ahead of its much-awaited IPO. Mukesh Ambani-led Reliance Industries named amongst the key suspects.
Reliance ADAG Chairman Anil Ambani on Friday expressed hope that the Indian industry and the government will work as partners to seize the opportunity to create largescale infrastructure across all sectors in the country.
NDTV Imagine, the entertainment wing of Prannoy Roy-promoted NDTV Network, is close to forming a 50:50 joint venture with Manmohan Shetty - the former promoter of Adlabs - to enter film production.
Reliance Power (R-Power), which raised over Rs 12,000 crore (Rs 120 billion) in India's biggest initial public offering in January, will consider issuing bonus shares to its shareholders, excluding the promoter group.
Counsels for AgustaWestland VVIP chopper scam accused Christian Michel and fugitive diamantaire Nirav Modi were also the potential targets of Israeli spyware Pegasus.
Brand name Reliance finds a place in the prestigious American business magazine Forbes -- be it promoted by Ambanis or a company in the United States.
Reliance Power (R-Power), the Reliance-ADAG group company, which plans to set up 28,000 mw of power plants in India, has secured $1 billion (or around Rs 4,200 crore) funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.
Dish TV and Tata Sky, the country's two direct-to-home (DTH) companies, are expected to post losses in excess of Rs 1,400 crore for 2007-08 in their quest to expand the market by offering set-top boxes at subsidised rates. The companies have over five million subscriber homes across the country collectively.
An interview with Landor's executive creative director Peter Knapp.
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