Reliance Infrastructure to raise Rs 750 crore through bond issue
NEW DELHI: Reliance Infrastructure on Saturday said its board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a private placement basis. Reliance Infrastructure in a BSE filing also said that Sandeep Khosla has been appointed as Chief Financial Officer (CFO) of the company. “We hereby inform you […]
Mukesh Ambani to appeal against SEBI penalty
MUMBAI: Reliance Industries Limited (RIL) Chairman Mukesh Ambani will appeal against the fine imposed by market regulator SEBI over alleged irregularities in a two-decade-old share issue in the company, the firm said on Thursday. Reliance Industries Ltd (RIL) had issued debentures with convertible warrants in 1994 and allotted equity shares against the warrants in 2000. […]
Delhi High Court asks SBI to maintain status quo on accounts of Anil Ambani’s firms
NEW DELHI: The Delhi High Court Wednesday asked SBI to maintain status quo with regard to accounts of Anil Ambani’s firms — RCom, Reliance Telecom and Reliance Infratel, which have been declared by the bank as fraud accounts. Justice Prateek Jalan passed the order on a plea by erstwhile directors of the three companies challenging […]
Anil Ambani’s Reliance Capital gets 10 more bids for subsidiaries
NEW DELHI: Reliance Capital (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said. Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new […]
6 suitors submit bids for acquiring Reliance Home Finance
NEW DELHI: Six suitors, including Kotak Special Situations Fund (KSSF) and Asset Reconstruction Company (India) Limited (ARCIL), have submitted bids for Reliance Home Finance, part of Anil Ambani-promoted Reliance Group. Only two bidders submitted compliant and binding bids while four bids are non-binding and not compliant with bid conditions, sources said. Lenders have decided to […]
Yes Bank takes possession of Anil Ambani’s group headquarter in Mumbai for failure to repay dues
NEW DELHI: Yes Bank has taken over the headquarter of Anil Ambani’s group in surburban Santacruz for failure to repay dues worth Rs 2,892 crore. The private sector lender has also taken possession of two flats in South Mumbai for the non-payment of dues by Reliance Infrastructure, according to a notice published by Yes Bank […]
UK court orders Anil Ambani to pay $717 million to Chinese banks within 21 days
NEW DELHI: A UK court on Friday directed Reliance Group chairman Anil Ambani to pay nearly $717 million to three Chinese banks pursuing the recovery of funds owed to them as part of a loan agreement within 21 days. At a remotely held hearing, in line with procedures in place for the Covid-19 pandemic, Justice […]
Anil Ambani files adjournment plea before ED in probe against Rana Kapoor
NEW DELHI: Reliance Group Chairman Anil Ambani has filed an adjournment application and sought more time to appear before the Enforcement Directorate (ED) in connection with the ongoing money laundering probe related to Yes Bank co-founder Rana Kapoor. The ED had summoned Ambani in connection with the probe against Kapoor and his family members. In […]
Anil Ambani, four others resign as Reliance Communications directors
NEW DELHI: Reliance Communications (RCom) Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, according to a regulatory filing. The chief financial officer of the debt-ridden company Manikantan V has also resigned, the filing said. “Shri Anil D Ambani, Smt. Chhaya Virani, Smt. Manjari Kacker have […]
Anil Ambani’s sons and retired Army officer Lt Gen Hasnain appointed RInfra directors
NEW DELHI:Reliance Group Chairman Anil Dhirubhai Ambani’s sons Anmol and Anshul Ambani have today joined the Board of Reliance Infrastructure Ltd. as Directors. Along with them, Lt. Gen. Syed Ata Hasnain (Retd.), has also been inducted onto the Board as an Independent Director. Anmol, 27, has a degree in Management from Warwick Business School. An […]
Reliance Capital’s default rating puts $13 billion debt of Anil Ambani group at risk
NEW DELHI: Reliance Capital Ltd.’s downgrade to default grade at Care Ratings Ltd. places the debt of embattled tycoon Anil Ambani’s conglomerate at risk, reigniting India’s credit scare. Mumbai-based Care cut Reliance Capital’s bonds by eight notches to D from BB, citing a delay in coupon payments on several of the lender’s non-convertible debentures, the […]
Chinese banks demand $2.1 billion from embattled Anil Ambani’s firm
By PR Sanjai NEW DELHI: Chinese lenders, including China Development Bank, Industrial and Commercial Bank of China and Exim Bank of China, have demanded at least $2.1 billion from embattled tycoon Anil Ambani’s Reliance Communications Ltd., that slid into bankruptcy earlier this year. State-owned China Development Bank, with loans worth Rs. 9,860 crore ($1.4 billion) was the biggest creditor to the […]
Anil Ambani to withdraw defamation suits against Congress, Herald
NEW DELHI: Anil Ambani’s Reliance Group has decided to withdraw the Rs 5,000-crore civil defamation suits filed in an Ahmedabad court against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal. The suits were being heard in the court of city civil and sessions judge […]
UPA gave projects worth 1 lakh crores”: Reliance Group jabs Rahul Gandhi
NEW DELHI: Rebutting Rahul Gandhi’s charge that Anil Ambani is a crony capitalist, Reliance Group Sunday said the group got over Rs 1 lakh crore of contracts during the UPA rule and the Congress president is continuing his campaign of “calumny, disinformation, distortion and malicious lies”. The Reliance Group, reacting to Gandhi’s recent media statements, […]
Anil Ambani needs $2 billion in asset sales to save last stronghold
By PR Sanjai and Anto Antony NEW DELHI: The last stronghold in embattled tycoon Anil Ambani’s phone carrier-to-power empire is also developing fault lines. Reliance Capital Ltd., his financial services business that almost doubled its profit in five years, had largely remained insulated from the distress plaguing the wider conglomerate. Now, the company that controls India’s […]
France waived 143.7 million euro tax dues of Anil Ambani firm months after Rafale announcement
NEW DELHI: France waived taxes worth 143.7 million euros (Rs 1,200 crore) to a French-registered telecom subsidiary of Anil Ambani’s Reliance Communications in 2015, months after Prime Minister Narendra Modi’s announcement of buying 36 Rafale jets, leading French newspaper Le Monde reported Saturday, giving a fresh twist to the deal in the middle of the […]