This was perhaps a missed opportunity for India to spotlight a core domestic challenge: The scale of workforce preparation required for a young, populous, rapidly growing country seeking to reach net zero, points out Radha Roy Biswas.
The Supreme Court on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007. A bench of Justices J B Pardiwala and R Mahadevan said it was not inclined to interfere with the order passed by SAT.
The world's first franchise-based rugby sevens league, the Rugby Premier League (RPL), will get under way in Mumbai in June, organisers Rugby India and GMR Sports said on Friday.
With the rise of wellness tourism and experiential travel, specialised jobs are being created in spa management, event planning and local experience curation, besides social media management.
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and purchase of RPL shares in the cash and the futures segments in November 2007.
Chevron Corporation, one of the world's largest global energy companies, may pull out of Reliance Petroleum (RPL) by selling its 5 per cent equity to Reliance Industries.
Chevron is evaluating its options regarding RPL. It owns 5 per cent stake in RPL, valued at about $1 billion.
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd's chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the entities appealed before the tribunal against the order passed by the Securities and Exchange Board of India (Sebi) in January 2021. In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's chairman and managing director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
Securities and Exchange Board of India, India's capital market regulator, has approved US energy major Chevron becoming one of the promoters of Reliance Petroleum Ltd.
Market regulator Sebi will further look into trading of shares of Reliance Petroleum Ltd (RPL), which is now part of Reliance Industries, for alleged insider trading during November 2007, Parliament was informed.
The Securities and Exchange Board of India has extended the market timing for Reliance Petroleum Ltd's IPO by eight hours owing to huge investor interest in the public issue.
Cash flows from RPL will help Reliance to step up investments on explorations. Reliance Industries, which owns the world's biggest refinery complex, is looking at additional cash flows, tax benefits, continuity of export status and other synergies in its attempt to merge Reliance Petroleum with itself, after a 54 per cent decline in stock prices.
The oil ministry is believed to have turned down Reliance Petroleum Ltd's request to export LPG from its newly commissioned refinery at Jamnagar in Gujarat, forcing the only-for-exports unit to sell the cooking fuel locally.
In an action replay after seven years, Mukesh Ambani-promoted Reliance Industries, India's largest company by market capitalisation, announced on Friday, plans to merge its group firm Reliance Petroleum with itself. Both RIL and RPL informed the Bombay Stock Exchange on Friday that they would hold separate board meetings on March 2 to consider the merger.
In a disclosure to the Bombay Stock Exchange, Reliance Petroleum LTD said Chevron India Holdings has sold 22.50 crore shares, representing five per cent stake in RPL, to Reliance Industries. RIL has paid Rs 60 per share aggregating to Rs 1,350 crore, the same price at which the US firm had bought five per cent stake in RPL in April 2006.
RPL, a unit of Reliance Industries, had sought nod to export the entire liquefied petroleum gas production in the six months to fully commissioning its 580,000-barrels per day refinery in the Jamnagar special economic zone. RPL, in which US energy major Chevron Corp has 5 per cent stake, is likely to start producing fuel from the unit being set up adjacent to parent firm's existing 660,000 bpd refinery at Jamnagar in the next few weeks.
In line with its plans to set up greenfield projects outside India, Mukesh Ambani's Reliance group is considering setting up a polypropylene unit in Kuwait. The company already has operations in the Gulf states to market polypropylene. If this project fructifies, it will be Reliance's first unit outside India. Reliance Industries (RIL) is also looking to set up a refinery project in Kuwait. It has also signed an MoU with GAIL to explore for petrochemical plants outside India.
Mukesh Ambani-controlled Reliance Petroleum Ltd will be listed on the bourses on May 11.
The Bombay high court has sanctioned the scheme of amalgamation of RPL with Reliance Industries, Mukesh Ambani-led company said in a filing to the Bombay Stock Exchange.
The merger between the RIL and RPL would enhance value for shareholders of both the companies, RIL Chairman Mukesh Ambani said in Mumbai on Monday.
After creating history with its IPO earlier last month, Reliance Petroleum Ltd is set to join the league of top 15 companies in India in terms of market capitalisation in its debut trade on Thursday.
Market regulator SEBI is believed to have issued show-cause notice to Reliance Industries and its associate entities following a probe into charges of insider trading in securities of group firm Reliance Petroleum.
The Board of Directors of Reliance Industries on Monday approved a scheme of amalgamation of its subsidiary Reliance Petroleum with the parent company under the provisions of Sections 391 to 394 of the Companies Act, 1956.
Mukesh Ambani-controlled Reliance Petroleum Ltd will raise $1.5 billion (nearly Rs 6.9 billion) through Syndicated Term Loan Facility to finance its new 580,000 bpd refinery and a 0.9 MT polypropylene unit.\n\n
Shareholders of Mukesh Ambani-led Reliance Industries met in Mumbai on Saturday in an extra-ordinary general meeting to vote on the merger of its subsidiary Reliance Petroleum with the company.
Supreme Court has put a halt to proceedings against RPL in the Gujarat high court, following a PIL filed against Reliance Power's upcoming IPO.
The Sebi order clears the hurdles ahead of the mega IPO of $2.5 billion to $3 billion, which is expected to hit the markets early next year.
Anup Sheth and two others had filed applications, objecting to the merger scheme in the present form. The objectors had demanded that high court should order inquiry by Securities and Exchange Board of India, Reserve Bank of India and other financial governing bodies before sanctioning the merger.
In two separate filings, both the companies said a meeting of the board of directors will be held on March 2, to consider and recommend the amalgamation of Reliance Petroleum and Reliance Industries, the country's most valued firm in terms of market capitalisation.
The refinery will roll out petroleum products including diesel and some amount of naptha initially. The refinery will initially produce 31 kilo tonne per day of diesel and 5.7 ktpd of naptha among other products, sources added. The unit can also produce 25 ktpd of petrol, however, it might not sell it initially in the market, sources added.
"Sebi has informed that it has initiated an examination in the matter," Minister of state for Finance P K Bansal saidin a written reply. Bansal was replying to a query by Amar Singh (Samajwadi Party) on whether the government had taken any action against thepromoters/affiliates of Reliance Industries Ltd regarding the recent mammoth insider trading activities in the shares of Reliance Petroleum Ltd.
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.
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