In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
'It is very difficult to be an honest politician in a country where the system is absolutely corrupt. Jaipal Reddy is one up even on Prime Minister Manmohan Singh who is considered clean and honest. Reddy has gone a step ahead by playing an active role in stopping corruption. He has put things on record; he has walked the extra mile to ensure that public money is valued highly. One must recognise Reddy's efforts, and make it an example for India's younger generation.'
She has been described as Reliance's real programme manager.
Captain Harbhajan Singh and fast bowler Munaf Patel will be retained by Mumbai Indians for the next edition of the Indian Premier League. Amidst media speculation, IPL sources dismissed talk that the names of the two players figure in the list of players to be released by the franchise.
Amid indications of the government and RBI gearing up to grant new bank licences, Reliance Capital has said it is full-prepared from its side to foray into the banking business.
Reliance Capital on Wednesday said it has got approval from the Indian market regulator Sebi and the Monetary Authority of Singapore (MAS) for Rs 1,450-crore (Rs 14.5 billion) stake sale in its mutual fund business unit to Japan's Nippon Life.
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
The Ambani brothers -- Mukesh and Anil -- came together for the inauguration of a memorial for the legendary industrialist and founder of Reliance Group Dhirubhai Ambani in Chorwad town in Junagarh district on Wednesday, in the presence of the entire family.
In a statement issued from New Delhi, Ambani-led Reliance group, however, said that no charges have been levelled against them by the UK regulators in these proceedings.
Reliance has small parcels of land in West Bengal for its agri-retail plan.
The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
Gandhi has been attacking the BJP government for allegedly inking the deal at a much higher price than the one the previous United Progressive Alliance regime had negotiated to benefit 'one businessman'.
The 2G-spectrum trial entered its second day on Monday with Public Prosecutor Advocate A K Singh putting up a myriad of questions to Reliance Group President A N Sethuraman in a bid to establish a link between the Anil Dhirubhai Ambani Group and Swan Telecom.
The company and its three officials are facing a criminal case under the Official Secrets Act over the alleged recovery of some secret documents during search of the office premises of V Balasubramanian, the then group president of Reliance Industries, in 1998.
With the objective of making the country a manufacturing hub for domestic and foreign companies, Prime Minister Narendra Modi is launching the NDA government's "Make in India" campaign today.
Changing market dynamics have led to the Tata group overtaking the combined market wealth of the two Ambani groups put together.
The government will next week consider requests from Mukesh Ambani-led Reliance Group firms and other companies for extension of validity for their different special economic zones.
The group's telecom arm, RCom, saw its shares plunge by 8.11 per cent to a low of Rs 71.35 in morning trade, while Reliance Capital tumbled by 9.91 per cent to a 52-week low of Rs 323.55 on the Bombay Stock Exchange.
With markets expected to remain volatile, promoters and lenders exposed to the industrials and materials space can face brunt of the price erosion of the pledged shares.
Reliance Defence Limited and Russia's leading developer and manufacturer of Air Defence Missile Systems 'AlmazAntey' have decided to work jointly on the entire range of Air Defence Missile and Radar Systems that are required for Indian defence forces.
Anil Ambani said on Wednesday his Reliance Group will invest Rs 50,000 crore (Rs 500 billion) in Gujarat in the next 5-7 years on various projects as the firm looks to tap opportunities in the state.
Pointing out at the 'cooperation' and 'trust' shared between both India and France, Ambassador of France to India Alexandre Ziegler asked people to look at the facts.
Lauding the contribution of non-resident Indians in the development of the country, he said, 'Mahatma Gandhi, Sardar Patel, B R Ambedkar, Jawaharlal Nehru were all NRIs. They travelled the world and helped India with new perspectives.'
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
Plans to set up an integrated pharma firm in a phased manner.
Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, will set up a new age world-class university in India.
The Andhra Pradesh police has booked a case against a Telugu television news channel for carrying "unverified" report alleging that a Mumbai-based corporate house -- referring to the corporate houses of Anil and Mukesh Ambani -- had been involved in an alleged conspiracy behind the death of Chief Minister Y S Rajasekhara Reddy in September last year.
The Indian bourses on Monday pared all its gains and slipped into the red towards the end of the trading session owing to weakness in the metal and realty stocks.
The university will be set up under Reliance Foundation, the new philanthropic initiative of the Reliance Group, and will be modelled on the lines of American universities. RIL will invest Rs 500 crore (Rs 5 billion) in the foundation with plans to scale up its contribution to Rs 1,000 crore (Rs 10 billion).
As the situation was limping back to normalcy in Andhra Pradesh a day after unprecedented violence and attacks on the offices and retail outlets of both the rival Reliance groups, the state government booked a criminal case against a Telugu news channel TV5 for carrying an unverified report linking the names of Mukesh and Anil Ambani to the alleged foul play behind the death of former Chief Minister Y S Rajasekhara Reddy in a helicopter crash in September last year.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
It also demanded Prime Minister Manmohan Singh to clarify on supply of gas and its price from RIL-operated fields.
Even four years after splitting the Reliance empire, the Ambani brothers still seem to be washing dirty linen in public: the latest battle is over gas pricing.
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
RM took stock of progress in production of the fighter jets whose delivery to India will begin in September next year.
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