Anil Ambani inducts sons Anmol, Anshul on Reliance Infra board as directors; retd Lt Gen Syed Alta Hasnain too joins board
5 years, 3 months ago

Anil Ambani inducts sons Anmol, Anshul on Reliance Infra board as directors; retd Lt Gen Syed Alta Hasnain too joins board

Firstpost  

A company spokesman attributed the induction of the junior Ambanis to respect the wishes of the shareholders who during the recent AGM asked the management to get fresh blood into the company by bringing them on board. The company has also appointed retired Army officer Lt Gen Syed Ata Hasnain as an independent director on the board of the company, it said in a statement on Wednesday. Anmol has been on the board of Reliance Capital since August 2016, while the younger one, Anshul joined the group this January, and has been actively involved in all operations of RInfra, including a special focus on the defence business, working closely with the group chairman and Punit Garg, executive director, the company said. During the recent AGMs, Ambani had said the group was shuttering the two lending arms of Reliance Capital-Reliance Commercial Finance and Reliance Home Finance with a cumulative asset of over Rs 25,000 crore—by December. On Monday, the group nearly exited RCap’s AMC business–which used to lead the market for long and now has gone down a distant fifth slot—to Nippon Life of Japan which now owns 75 percent in the company and has since been renamed as Nippon Indian Mutual Fund for collective investment of Rs 6,000 crore.

Board Company Group Reliance Infra Defence Business  group  inducts  rs  lt  hasnain  company  long  board  recent  syed  sons  shareholders  defence  business  retd  reliance  infra  joins

History of this topic

Reliance Power share price: Anil Ambani-owned stock in focus on ₹3760 crore term loan from PFC
2 weeks, 3 days ago

Reliance Power share price: Anil Ambani-owned stock in focus on ₹3760 crore term loan from PFC

Live Mint  

Reliance Power share price: Anil Ambani-owned Reliance Power shares will be in focus when the Indian stock market resumes trading activity on Monday. In its exchange filing on Friday last week, Reliance Power Ltd informed the Indian exchanges that Anil Ambani-owned company's subsidiary, Rosa Power Supply Company Limited, has executed a definitive document for availing of a term loan up …

Anil Ambani’s Reliance Power in trouble as renewable energy agency initiates criminal action over fake bid
2 months ago

Anil Ambani’s Reliance Power in trouble as renewable energy agency initiates criminal action over fake bid

Live Mint  

Solar Energy Corporation of India Ltd, India's top renewable energy agency, has sent a notice to Reliance Power asking why it should not initiate criminal proceedings after a subsidiary of the Anil Ambani-led power producer submitted fake documents for a bid, reported the news agency Reuters citing a notice issued on Wednesday, November 13. Last week, the SECI banned Reliance …

Anil Ambani’s Reliance Power shares hit 5% lower circuit after SECI notice
2 months, 1 week ago

Anil Ambani’s Reliance Power shares hit 5% lower circuit after SECI notice

Live Mint  

Reliance Power share price: Shares of Anil Ambani's Reliance Power opened at a 5% lower circuit at ₹41.47 on the BSE on Friday, November 8, following a notice from the Solar Energy Corporation of India Limited. The notice stated that Reliance Power and its subsidiary are barred from participating in SECI tenders for the next three years. SECI has barred …

Hinduja overhauls corp structure for Reliance Capital deal
8 months, 1 week ago

Hinduja overhauls corp structure for Reliance Capital deal

New Indian Express  

NEW DELHI: The successful bidder for Reliance Capital – IndusIndia International Holding Ltd – has changed the entire corporate structure of the transaction for implementation of the resolution plan 20 days ahead of the deadline for completion of the process. Under the new structure, the transaction will take place through four new companies -- Cyqure India Private Limited, Ecopolis Properties …

Anil Ambani-led Reliance Power share price hits 5% upper circuit, what’s driving the rally?
9 months, 3 weeks ago

Anil Ambani-led Reliance Power share price hits 5% upper circuit, what’s driving the rally?

Live Mint  

Reliance Power's stocks surged by 5% on March 20, hitting a peak of ₹23.83 on the BSE. This uptick follows reports of the Anil Ambani-led company successfully clearing debts owed to three major banks - ICICI Bank, Axis Bank, and DBS Bank - the previous week. According to The Economic Times report, Reliance Power's parent company Reliance Infrastructure is actively …

Anil Ambani-led Reliance Power shares hit 5% upper circuit: What's happening?
9 months, 3 weeks ago

Anil Ambani-led Reliance Power shares hit 5% upper circuit: What's happening?

Hindustan Times  

Shares of Reliance Power rose 5% today and reached day's high of ₹23.83 on the BSE. The reports also claimed that its parent Reliance Infrastructure is working towards settling dues of ₹2,100 crore to JC Flowers Asset Reconstruction Company. Stock market today: Anil Ambani-led Reliance Power's shares hit upper circuit on March 20. Reliance Power financials Reliance Power disclosed earlier …

Nita Ambani to chair Reliance-Disney merged entity: Reports
10 months, 2 weeks ago

Nita Ambani to chair Reliance-Disney merged entity: Reports

Hindustan Times  

Nita Ambani, founder and chairperson of Reliance Foundation, is likely to head the entity formed upon the merger of Viacom 18 and Sony India, the media assets in the country of Reliance Industries Limited and the US-based Walt Disney Company, respectively, according to reports. Nita Ambani is the chairperson and founder of Reliance Foundation which is the philanthropic arm of …

Isha, Akash and Anant Ambani Get Shareholders' Nod for Appointment as RIL Non-Executive Directors
1 year, 2 months ago

Isha, Akash and Anant Ambani Get Shareholders' Nod for Appointment as RIL Non-Executive Directors

News 18  

The shareholders of Reliance Industries have approved the resolutions for the appointment of Isha Ambani, Akash Ambani and Anant Ambani as non-executive directors. Isha Ambani, Akash Ambani and Anant Ambani got approval from 98.21 per cent, 98.06 per cent and 92.76 per cent respectively of the total votes polled, Moneycontrol reported. The move is in line with gradually promoting Isha, …

Shareholders approve appointment of Isha, Akash and Anant Ambani to RIL board
1 year, 2 months ago

Shareholders approve appointment of Isha, Akash and Anant Ambani to RIL board

Live Mint  

The shareholders of Reliance Industries have approved the appointment of Isha Ambani, Akash Ambani and Anant Ambani to the board as non-executive directors, the firm announced in a BSE exchange filing on Friday. Last year, RIL chairman Mukesh Ambani made way for his first-born Akash Ambani, to become the chairman of India's largest mobile firm, Reliance Jio Infocomm. However, as …

Ambani Scions Made Reliance Board Members
1 year, 4 months ago

Ambani Scions Made Reliance Board Members

Deccan Chronicle  

The Reliance Industries Limited held its 46th Annual General Meeting for its shareholders on Monday. Changes in Reliance Board Nita Ambani stepped down from the Board of Directors of Reliance Industries Limited, making way for children Isha, Akash and Anant to become the non-executive directors on the RIL Board. Key Takeaways Jio Financial Services was mini bonus for long-term RIL …

RIL 46th AGM: Ambani scions to join Reliance board
1 year, 4 months ago

RIL 46th AGM: Ambani scions to join Reliance board

Live Mint  

On the 46th RIL AGM, Reliance Industries Ltd appointed Isha Ambani, Akash Ambani, and Anant Ambani as directors to the board of the oil-to-telecoms conglomerate. In an exchange filing, RIL informed shareholders on Monday, "The Board of Directors of RIL, at its meeting held today, on the recommendation of the Human Resources, Nomination and Remuneration Committee, considered and recommended to …

RIL AGM 2023: Isha, Akash and Anant Appointed On RIL board; Nita Ambani to Step Down
1 year, 4 months ago

RIL AGM 2023: Isha, Akash and Anant Appointed On RIL board; Nita Ambani to Step Down

News 18  

RIL AGM 2023: Reliance Industries Ltd on Monday, August 28, said its RIL board has recommended appointment of Isha Ambani, Akash Ambani and Anant Ambani on its board of directors. ISHA M AMBANI Isha M Ambani is part of the executive leadership teams as a Member of the Board at Reliance Retail Venture Ltd, Reliance Jio and Reliance Foundation, Reliance …

Mukesh Ambani's daughter Isha, former CAG Rajiv Mehrishi appointed directors on RIL's financial services unit
1 year, 6 months ago

Mukesh Ambani's daughter Isha, former CAG Rajiv Mehrishi appointed directors on RIL's financial services unit

The Hindu  

Billionaire Mukesh Ambnai's daughter Isha and former CAG Rajiv Mehrishi are among the directors appointed on the board of demerged financial services unit of Reliance Industries Ltd, the company said on Saturday. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited and rename and list it as Jio Financial Services Limited. "In accordance …

Isha Ambani, former CAG Rajiv Mehrishi appointed directors on RIL's financial services unit
1 year, 6 months ago

Isha Ambani, former CAG Rajiv Mehrishi appointed directors on RIL's financial services unit

India TV News  

Isha Ambani, daughter of Billionaire Mukesh Ambani, and former CAG Rajiv Mehrishi are among the directors appointed on the board of demerged financial services unit of Reliance Industries Ltd. The company earlier had announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited and rename and list it as Jio Financial Services Limited. "In accordance with provisions …

Ambani charts succession plan; hands over telecom business reins to son Akash
2 years, 6 months ago

Ambani charts succession plan; hands over telecom business reins to son Akash

The Hindu  

In the first clear signs of a succession plan being charted out at India's most valuable company, billionaire Mukesh Ambani resigned from the board of his $217 billion group's telecom arm, Reliance Jio, and handed over the firm's reins to elder son Akash. In a stock exchange filing, Reliance Jio Infocomm Ltd on Tuesday said the company's board at a …

Adani, Tata AIG, ICICI Lombard among 54 prominent bidders for Reliance Capital
2 years, 9 months ago

Adani, Tata AIG, ICICI Lombard among 54 prominent bidders for Reliance Capital

Hindustan Times  

Adani Finserve, ICICI Lombard, Tata AIG, HDFC Ergo, and Nippon Life Insurance are among the 54 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital Ltd, promoted by the Anil Ambani Group, sources said. The bidders had two options - either they could bid for the entire RCL or any one or more than one of the subsidiaries …

Anil Ambani steps down as director of R-Infra, Reliance Power
2 years, 9 months ago

Anil Ambani steps down as director of R-Infra, Reliance Power

India Today  

Reliance Group Chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator SEBI's order restraining him from associating with any listed company. "Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance with SEBI interim order," Reliance Power said in a BSE filing. In a separate filing to …

NCLT reserves order on SBI plea against Anil Ambani to recover over Rs 1,200 crore
4 years, 6 months ago

NCLT reserves order on SBI plea against Anil Ambani to recover over Rs 1,200 crore

India TV News  

The National Company Law Tribunal on Tuesday reserved its order on the State Bank of India plea against Anil Ambani to recover over Rs 1,200 crore under the personal guarantee clause of the bankruptcy law. Anil Ambani had given a personal guarantee to the loans given to Reliance Communications and Reliance Infratel. In early 2019, Reliance Communications, once the flagship …

Lenders to Reliance Naval seek EoIs for sale of Anil Ambani company
4 years, 7 months ago

Lenders to Reliance Naval seek EoIs for sale of Anil Ambani company

Live Mint  

MUMBAI: Lenders of Reliance Naval and Engineering Ltd have sought expressions of interest from buyers to acquire the bankrupt shipbuilder under the insolvency and bankruptcy code. The second Anil Ambani-controlled Reliance Group firm to go for insolvency after Reliance Communications Ltd, Reliance Naval was admitted for insolvency proceedings on 15 January by the Ahmedabad bench of the National Company Law …

Anil Ambani-led Reliance Group companies' shares worth over Rs 3.3 cr sold through open market transactions
4 years, 8 months ago

Anil Ambani-led Reliance Group companies' shares worth over Rs 3.3 cr sold through open market transactions

Firstpost  

New Delhi: Anil Ambani-led Reliance Group companies’ shares worth over Rs 3.31 crore were offloaded through open market transactions on Thursday. According to bulk deal data on the National Stock Exchange, YES Bank sold 90.5 lakh shares of Reliance Naval and Engineering Ltd at an average price of Rs 1.25 per scrip, taking the total deal value to Rs 1.13 …

Yes Bank crisis: Anil Ambani appears before ED in Mumbai in connection with money-laundering probe
4 years, 9 months ago

Yes Bank crisis: Anil Ambani appears before ED in Mumbai in connection with money-laundering probe

Firstpost  

Reliance Group Chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said Mumbai: Reliance Group Chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials …

Yes Bank: ED summons Anil Ambani
4 years, 10 months ago

Yes Bank: ED summons Anil Ambani

The Hindu  

Reliance Group Chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday. They said Ambani has been asked to depose at the Enforcement Directorate office in Mumbai on Monday as his group companies are one among the big entities whose loans went …

Anil Ambani-led Reliance Group says its entire debt from Yes Bank is secured; committed to repay
4 years, 10 months ago

Anil Ambani-led Reliance Group says its entire debt from Yes Bank is secured; committed to repay

Firstpost  

Anil Ambani-led Reliance Group on Wednesday said its entire debt from troubled Yes Bank is fully secured and was availed in the ordinary course of business New Delhi: Anil Ambani-led Reliance Group on Wednesday said its entire debt from troubled Yes Bank is fully secured and was availed in the ordinary course of business. In a statement, the group said …

Reliance Communications lenders reject resignation of Anil Ambani, 4 other directors
5 years, 1 month ago

Reliance Communications lenders reject resignation of Anil Ambani, 4 other directors

India TV News  

Reliance Communications on Sunday said its lenders have rejected the resignation of Chairman Anil Ambani and four other directors, and asked them to cooperate in the ongoing corporate insolvency resolution process. The filing further said: ".it is being duly communicated to the aforesaid directors of RCom that their resignations have not been accepted and they are advised to continue to …

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process
5 years, 1 month ago

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process

Firstpost  

Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, New Delhi: Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, according to a regulatory filing. The company, which is going through insolvency process, had made a profit of …

Anil Ambani resigns as director of Reliance Communications
5 years, 2 months ago

Anil Ambani resigns as director of Reliance Communications

India Today  

A day after details of losses incurred by Reliance Communications in the second quarter of 2019-2020 were made public, Reliance Communications on Saturday said Anil Dhirubhai Ambani resigned as the company's director. "Your good office is hereby informed of the resignations tendered by the following directors of Reliance Communications Limited: Anil D Ambani, Chhaya Virani, Ryna Karani, Manjari Kacker and …

In a first, Anil Ambani threatened with class action suit at AGM after massive erosion of wealth, frequent rating downgrades irk shareholders
5 years, 3 months ago

In a first, Anil Ambani threatened with class action suit at AGM after massive erosion of wealth, frequent rating downgrades irk shareholders

Firstpost  

“If I do not get satisfactory replies to my questions, in the next two-three months I will file a class action suit against RPower,” a shareholder warned Anil Ambani. Mumbai: Massive erosion of wealth due to poor performance leading to frequent rating downgrades has forced irate shareholders of the Anil Ambani Group companies to complain against the management and threaten …

Shareholders plan to take Anil Ambani to court for over 90% erosion in shareholders wealth
5 years, 3 months ago

Shareholders plan to take Anil Ambani to court for over 90% erosion in shareholders wealth

The Hindu  

The back-to-back annual general meetings of five Reliance Group firms has put its chairman Anil Ambani in a difficult situation as a set of shareholders threaten to file class action suit against Anil Ambani for eroding shareholders wealth under his watch while another set of shareholders gave standing ovation to Reliance Group chairman to express their solidarity with him amidst …

In a first, RCom AGM to be chaired by resolution professional today; firms in diversified group to hold their AGMs
5 years, 3 months ago

In a first, RCom AGM to be chaired by resolution professional today; firms in diversified group to hold their AGMs

Firstpost  

RCom itself sought bankruptcy early February after its efforts to sell spectrum to Reliance Jio failed due to regulatory delays Mumbai: In what is probably the first for any major corporate, a resolution professional will chair and address the shareholders of the Anil Ambani-run bankrupt Reliance Communications at the annual meeting with shareholders here on Monday. RCom is presently going …

Anil Ambani's Reliance Group to lease out company headquarters in Mumbai to raise funds to pay off debt
5 years, 6 months ago

Anil Ambani's Reliance Group to lease out company headquarters in Mumbai to raise funds to pay off debt

Firstpost  

Reliance infrastructure plans to monetise its marquee Reliance Center Office located in Santacruz East, Mumbai, the company said in a statement Mumbai: The Reliance Group is looking to lease out its headquarters in one of Mumbai’s prime suburbs, the telecoms to infrastructure conglomerate said, a move that will help the company to raise funds to pay off debt. “Reliance infrastructure …

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May
5 years, 8 months ago

Anil Ambani's RCom's bankruptcy begins as NCLT allows firm to exclude 357 days spent in litigation; next hearing on 30 May

Firstpost  

At the last hearing, RCom had sought 357 days exclusion in the insolvency process citing the stays it had on the process by the NCLAT and the Supreme Court. Mumbai: The National Company Law Tribunal on Thursday allowed Reliance Communications to exclude the 357 days spent in litigation and admitted it for insolvency. With this, RCom, which owes over Rs …

’Deeply grateful’: Anil Ambani thanks his brother Mukesh Ambani for paying Ericsson dues
5 years, 9 months ago

’Deeply grateful’: Anil Ambani thanks his brother Mukesh Ambani for paying Ericsson dues

Live Mint  

Asia’s richest man Mukesh Ambani has helped his younger brother avert a stint in jail, stepping in to make an $80 million payment for his sibling Anil whose telecom-to-infrastructure empire is struggling under the weight of debt. The embattled former billionaire, Anil Ambani, thanked his brother Mukesh, and his sister-in-law, after Reliance Communications Ltd. completed the required ₹5.5 billion payment …

In a sinking ship
5 years, 10 months ago

In a sinking ship

The Hindu  

IN a case of how the mighty can fall, one of India’s top businessmen, Anil Ambani, chairman of the Anil Dhirubhai Ambani Group, faces the prospect of spending time in jail and going bankrupt. Jio’s failure to buy Rcom assets At the centre of Anil Ambani’s problems was Reliance Jio’s failure to buy RCom’s assets. Keeping in mind the crisis …

Anil Ambani-led Reliance Capital invites Japan's Nippon Life Insurance to buy its entire 42.88% stake in JV
5 years, 10 months ago

Anil Ambani-led Reliance Capital invites Japan's Nippon Life Insurance to buy its entire 42.88% stake in JV

Firstpost  

Sources said the transaction could help clear around 40% of Reliance Capital’s outstanding debt worth Rs 18,000 crore New Delhi: Anil Ambani-led Reliance Capital on Thursday said it has invited Nippon Life Insurance to acquire its entire 42.88 percent stake in Reliance Nippon Life Asset Management. “Reliance Capital has invited its partner, Nippon Life Insurance, to make an offer to …

Supreme Court verdict against Anil Ambani in Ericsson-RCom case: Chronology of events
5 years, 10 months ago

Supreme Court verdict against Anil Ambani in Ericsson-RCom case: Chronology of events

Firstpost  

The Supreme Court on Wednesday held Reliance Communications Ltd chairman Anil Ambani and two others guilty of contempt of court. New Delhi: The following is the chronology of events in the case in which the Supreme Court on Wednesday held Reliance Communications Ltd chairman Anil Ambani and two others guilty of contempt of court. Observing there was a ‘wilful default’, …

Reliance Group stocks under pressure; slip up to 4.3% on Supreme Court order against Anil Ambani in Ericsson case
5 years, 10 months ago

Reliance Group stocks under pressure; slip up to 4.3% on Supreme Court order against Anil Ambani in Ericsson case

Firstpost  

Shares of Reliance Group companies on Wednesday closed 4.3 percent lower after the Supreme Court held chairman Anil Ambani and two other senior officials guilty of contempt of court. New Delhi: Shares of Reliance Group companies on Wednesday closed 4.3 percent lower after the Supreme Court held chairman Anil Ambani and two other senior officials guilty of contempt of court …

Breaking: SC Holds Anil Ambani Guilty Of Contempt; No Jail If Reliance Pays Ericsson Rs 453 Crores In 4 Weeks [Read Judgment]
5 years, 10 months ago

Breaking: SC Holds Anil Ambani Guilty Of Contempt; No Jail If Reliance Pays Ericsson Rs 453 Crores In 4 Weeks [Read Judgment]

Live Law  

The Supreme Court bench of Justices R F Nariman and Vineet Saran has held Anil Ambani, Chairman of Reliance Communications, guilty of contempt of court for defaulting payments to Ericsson as per the undertaking given to the Court.The three Reliance Companies - RCom, Reliance Telecom and Reliance InfraTel- are also held guilty of contempt, and fine of Rs One Crore …

RPower promoters aim Rs 2,500 cr from stake sale, plans to offload 18-19% shares; J P Morgan appointed as banker
5 years, 10 months ago

RPower promoters aim Rs 2,500 cr from stake sale, plans to offload 18-19% shares; J P Morgan appointed as banker

Firstpost  

Part of the diversified Anil Ambani group, Reliance Power has appointed J P Morgan as the banker for the proposed stake sale, the sources said. New Delhi: Sovereign wealth funds of Qatar and Abu Dhabi as well as private equity major KKR have evinced interest in investing in Reliance Power, where promoters plan to sell part of their direct holdings …

Anil Ambani-led Reliance Group reaches standstill pact with lenders, no sale of pledged shares till September
5 years, 10 months ago

Anil Ambani-led Reliance Group reaches standstill pact with lenders, no sale of pledged shares till September

Firstpost  

Reliance Group will pay the principal and interest amounts to the lenders as per the scheduled due dates New Delhi: Anil Ambani-led Reliance Group has reached a ‘standstill agreement’ with more than 90 percent of its lenders under which they will not sell any of the shares pledged by promoters till September. Under the pact, the group will pay the …

Anil Ambani reaches standstill agreement with lenders
5 years, 10 months ago

Anil Ambani reaches standstill agreement with lenders

The Hindu  

Anil Ambani led Reliance Group has reached an in-principle standstill understanding with more than 90% of the lenders at the promoter group level, after L&T Finance and Edelweiss Group had dumped Anil Ambani Group shares causing the unprecedented fall in share prices of Reliance Power and other group shares early this month. Reliance Group has nine lenders at the promoters …

'Reliance Has Money To Pay Rafale; But Not To Pay Our Debts', Ericsson Submits As SC Reserves Orders On Contempt Plea Against Anil Ambani
5 years, 11 months ago

'Reliance Has Money To Pay Rafale; But Not To Pay Our Debts', Ericsson Submits As SC Reserves Orders On Contempt Plea Against Anil Ambani

Live Law  

The Supreme Court bench of Justices R F Nariman and Vineet Saran today reserved orders on the contempt petitions filed by Ericsson against the Chairman of Reliance Communications Ltd Anil Ambani and other officials.Ambani was present in Court today along with Reliance Telecom Ltd Chairman Satish Seth and Reliance Infratel Ltd Chairperson Chhaya Virani.The contempt petitions have been. The Supreme …

Anil Ambani Appears Before SC In Contempt Plea By Ericsson; SC Adjourns Matter For Tomorrow
5 years, 11 months ago

Anil Ambani Appears Before SC In Contempt Plea By Ericsson; SC Adjourns Matter For Tomorrow

Live Law  

Anil Ambani, Chairman of Reliance Communications, appeared in the Supreme Court in response to the notices issued by the apex court in the contempt petitions filed Swedish company Ericsson. Three officials of the company were also present.The bench of Justices R F Nariman and Vineet Saran however adjourned the matter for tomorrow. The contempt petitions have been filed alleging that …

RCom chairman Anil Ambani reaches Supreme Court in contempt petition filed by Ericsson India
5 years, 11 months ago

RCom chairman Anil Ambani reaches Supreme Court in contempt petition filed by Ericsson India

Firstpost  

The Supreme Court of India had issued notice to Anil Ambani and others on a contempt petition filed by Ericsson India over non-payment of its dues. Reliance Communications chairman Anil Ambani has reached the Supreme Court on Tuesday to appear in a contempt petition filed by Ericsson India over not clearing its dues of Rs 550 crore. Contempt proceeedings Ericsson …

Reliance Communications stock sinks by more than half to a record low as firm asks NCLT to resolve debt
5 years, 11 months ago

Reliance Communications stock sinks by more than half to a record low as firm asks NCLT to resolve debt

Firstpost  

Reliance Communications said its lenders had not received any proceeds from asset monetisation plans, and that its overall debt resolution process had not made any progress Reliance Communications Ltd shares plunged by more than half to a record low on Monday, after the Indian telco said it will seek a fast-track resolution to its indebtedness through bankruptcy court. In one …

RCom heads to Indian bankruptcy court after Ambani brothers’ mobile battle
5 years, 11 months ago

RCom heads to Indian bankruptcy court after Ambani brothers’ mobile battle

CNN  

New Delhi CNN Business — One of India’s richest men has turned to a bankruptcy court for help as he battles to save his company after losing a brutal price war with his older brother. Anil Ambani’s wireless telecom business, Reliance Communications, announced Sunday it was asking India’s National Companies Law Tribunal to help sell its assets and settle billions …

SC issues notice to Anil Ambani over RCom Ericsson dues
6 years ago

SC issues notice to Anil Ambani over RCom Ericsson dues

Live Mint  

New Delhi: The Supreme Court on Monday issued notice to Anil Ambani on a plea by Ericsson India Pvt. Senior lawyer Harish Salve, appearing for Reliance Jio said, “Knowing the problems with prior dues and when giving physical guarantee, we can’t take the risk.” The court was responding to a contempt petition by RCom against the department of telecommunications claiming …

Anil Ambani clears legal hurdle to sell telecom assets to Reliance Jio
6 years, 1 month ago

Anil Ambani clears legal hurdle to sell telecom assets to Reliance Jio

Live Mint  

New Delhi: The Supreme Court on Friday cleared the sale of spectrum by Anil Ambani-controlled Reliance Communications Ltd to elder brother Mukesh Ambani’s Reliance Jio Infocomm Ltd on the condition that the seller furnishes ₹ 1,400 crore as corporate guarantee to the government within two days. The tribunal had also asked RCom to not sell a land parcel worth ₹ …

The $41 billion wealth gap that divides the Ambani brothers
6 years, 2 months ago

The $41 billion wealth gap that divides the Ambani brothers

Live Mint  

Over the past year, the fortunes of the two brothers at the helm of India’s wealthiest dynasty have grown apart—to more than $40 billion apart. “Reliance’s strategy to diversify beyond the energy sector was the biggest game changer,” said Sanjiv Bhasin, executive vice president at India Infoline Ltd. “Mukesh Ambani had the 10-year vision to foresee that data will be …

Anil Ambani seeks to sell control of Reliance Communications
6 years, 3 months ago

Anil Ambani seeks to sell control of Reliance Communications

Live Mint  

Reliance Communications Ltd., the telecommunications company that’s offloading most of its assets to a rival, is in talks to sell a controlling stake in what will remain after it exits India’s consumer wireless business. The company helmed by billionaire Anil Ambani is negotiating with two investors who are conducting due diligence, Bill Barney, chief executive officer of the company and …

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