Tag: RIL

RIL’s March quarter net profit more than doubles

NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday reported more than doubling of its March quarter net profit as consumer businesses of retail and telecom as well as petrochemicals saw sequential recovery on improved spreads offsetting continued weakness in refining business. Consolidated net profit of Rs 13,227 crore in January-March compared with Rs […]

Supreme Court halts Future Group’s $3.4 billion deal on Amazon plea

By Upmanyu Trivedi  NEW DELHI: India’s Supreme Court has stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., effectively halting the deal and marking another victory for Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector. Agreeing with the American e-commerce […]

Reliance petroleum: SEBI imposes a fine of Rs 15 crore on Mukesh Ambani

NEW DELHI: Commodity market regulator Securities and Exchange Board of India (SEBI) on Friday imposed penalties on Reliance Industries Ltd, its Chairman and Managing Director Mukesh Ambani as well as two other entities for allegedly indulging in manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs […]

Mukesh Ambani sold dreams to tech giants for $27 billion, Now he has to deliver

By Anto Antony P R Sanjai and Saritha Rai  NEW DELHI: Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia’s richest man is under […]

Reliance Retail completes fund raise of Rs 47,265 crore for 10.09% stake

NEW DELHI :Reliance Industries Limited (RIL) and Reliance Retail Ventures Limited (RRVL) have completed the current phase of partner induction and fund raise exercise for RRVL. Accordingly, the RRVL has received cumulative subscription amount of Rs 47,265 crore from its financial partners and allotted 69,27,81,234 equity shares to them. The largest fund raise exercise in […]

Several EoIs received for BPCL sale, giants RIL, Aramco, BP not in race

NEW DELHI: The much-anticipated privatisation process of the Bharat Petroleum Corporation Ltd (BPCL) completed its first phase on Monday with several suitors submitting Expressions of Interest (EoIs). However, sources said that major energy giants including Reliance Industries, Saudi Aramco and UK’s BP have not placed bids for the state-run oil major. The transaction will move […]

Reliance Industries to invest up to $50 million in Breakthrough Energy

NEW DELHI:Reliance Industries Limited (RIL) announced on Thursday that it has entered into a definitive agreement for making capital contribution of up to $50 million in Breakthrough Energy Ventures II, L.P. (BEV), a limited partnership, newly incorporated under the Delaware State Laws, the US. The capital contribution commitment of $50 million constitutes 5.75 per cent […]

Reliance Industries to appeal in Supreme Court against SAT ruling

NEW DELHI: Reliance Industries Limited (RIL) on Thursday said it will challenge in Supreme Court the dismissal of its plea by the Securities Appellate Tribunal (SAT) against a Sebi ruling barring the firm and 12 of its promoter group entities from dealing in equity derivatives for alleged unfair trade practices. SAT, by a 2:1 majority […]

Confidentiality clause latest flashpoint in Amazon-Future Group dispute

NEW DELHI:A confidentiality clause in the agreement between Amazon and Future Group may be the latest flashpoint in the ongoing dispute. As per the agreement between Amazon and Kishore Biyani’s Future Group companies, there is a confidentiality clause which says, “No party or person involved in any way in the creation, coordination or operation of […]

Deal with RIL in line with Indian laws, not party to agreement with Amazon: Future

NEW DELHI: After a Singapore arbitration court ordered a temporary stay on Reliance Retail’s acquisition of the debt laden Future Group’s retail business, the latter has said that the deal with Reliance Retail is in consonance with Indian laws. It further said that it is not a party to the agreement under which Amazon has […]

Future-RIL deal: Amazon gets a favourable ruling in arbitration case

NEW DELHI: Jeff Bezos-led Amazon has won a favourable ruling for its plea in Singapore against Kishore Biyani-headed Future Group striking a deal with Mukesh Ambani-led Reliance Industries Ltd (RIL). Future has been told not to proceed with its sale of shares to RIL till the outcome of the arbitration process, according to the sources. […]

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