Kalyan Sarangi quits Reliance Industries Ltd, joining ZTE

Long time Mukesh Ambani confidant Kalyan Sarangi has quit Reliance Industries Ltd (RIL). Mr Sarangi, who worked for some 14 years at Reliance and executed several critical projects for the groups telecoms and retail businesses, is likely to join noted Chinese telecoms equipment maker ZTE as services director responsible for the eastern markets.

When contacted, Mr Sarangi confirmed he had put in his papers at Reliance, citing personal reasons. However, he declined to confirm where he was headed. Though Mr Sarangi was heading Reliances retail venture in West Bengal in his final capacity, industry circles are abuzz that he is likely to make a comeback in the telecoms circuit by joining ZTEs apex management team.
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DoT asked weekly report from RCom auditors

A special audit of Anil Ambani group firm Reliance Communications will be delayed, as the auditor Parakh and Co has sought an extension for three months from mid-July.

The government has, however, asked the auditor for progress report before deciding on giving the extension and in case more time was given, the auditors would have to furnish a weekly report, sources said.

The auditors have blamed RCom the delay so far, saying the company had delayed submitting financial records and the actual audit could commence only on May 12, 2009.
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Reliance Communications gets 2.2 bln dollar, 10-yr Etisalat joint venture

Reliance Communications has got a deal worth more than 2.2 billion dollar over 10 years from Etisalat’s Indian telecoms joint venture, which will use Reliance’s mobile towers to roll out its network.

Etisalat DB Telecom India, in which the Gulf Arab region’s second-largest telecoms operator owns a 45 percent stake, has licences to provide mobile services in 15 of India’s 22 telecoms zones but is yet to start services.
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Ambani kids’ book labour of love released at Karnavati club

The labour of love of Anjali Ambani (17) and Amar Ambani (15), children of Vimal Ambani (son of Dhirubhai Ambani‘s elder brother Ramnikbhai Ambani) – a 208-page coffee table book titled ‘Fathers & Sons’, celebrating the special bond shared by fathers with their sons – was released at Karnavati club here on Sunday by noted hotelier Shriji Arvind Singh Mewar of Udaipur.
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Financial services sector has limitless growth: Anil Ambani

Painting a bright future for the Indian financial services sector, Anil Dhirubhai Ambani Group (ADAG) Chairman, Anil Ambani on Tuesday said that the headroom for (its) growth is virtually limitless.

In financial services, as in many other sectors of the Indian economy, we have barely scratched the surface, Ambani told shareholders at the annual general meeting (AGM) of Reliance Capital, a leading player in the Indian financial services space.
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Reliance Infrastructure Annual General Meeting :Anil Ambani Speech

My dear fellow Reliance Infra shareowners

It gives me immense pleasure to welcome each one of you to the 80th Annual General Meeting of our Company.

The year 2008-09 was a period of sustained growth and achievement for our Company. This was significant in the backdrop of a global recession that slowed the country’s economic growth to 6.7 per cent in 2008-09 from an average of nearly 9 per cent recorded in the previous four years. In recent times, we had established a leadership position in the power sector with a strong presence across the utility value chain. It was time to re-invent ourselves and broaden our business canvas by fully leveraging our core competence in building and managing world-class infrastructure assets.
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Reliance Capital Annual General Meeting :Anil Ambani Speech

My dear fellow
Reliance Capital
shareowners,

I am delighted to welcome each one of you to this 23rd Annual General Meeting of our Company.

It has been a year of substantial achievements for our company, in the face of one of the toughest global economic downturn ever witnessed in history.
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Reliance Capital to sell life insurance stake

Reliance Capital is planning to unlock value by selling a part of its stake in its life insurance arm and foraying into investment banking, group Chairman Anil Ambani has told shareholders.

In addition, the Reliance Anil Dhirubhai Ambani Group (ADAG) has tweaked its private equity (PE) plans, which have been delayed by several months, to focus on domestic sources of funding.

We are considering various options to unlock value in our life insurance business, from a potential IPO (initial public offer) to strategic or financial stake sale or a combination of both. A final decision will be taken shortly, Ambani said at Reliance Capital’s annual general meeting here.
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Beware of conman dealing out fake Reliance job offers

IN THE present times of economic recession and global slowdown, be careful if your are desperate for a job. There are people in the market ready to take advantage of the gullible job seekers with false promises and non-existent job offers.

Some conman have perfected this art to such an extent that they are dishing out appointment letters in the name of of top corporates, thus making it difficult for their prey to differentiate between what is true and false.

In one such startling case, a young engineer from Mumbai, Manish Tiwari was approached by a person claiming to be a senior HR executive at Reliance Industries at Jamnagar. Tiwari, a fresher just out of engineering college was asked by this executive, who gave his name as as Manish Jain, to send the scanned copies of his educational certificates, if he wanted a job at Reliance Industries in Jamnagar. On hearing this offer, an elated Tiwari sent his documents promptly to Manish Jain and waited for the response.
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Adlabs division Lowry Digital restored Apollo 11 footage

Lowry Digital, a division of Adlabs Films and a member of Reliance Anil Dhirubhai Ambani Group (ADAG), was behind the restored footage of the Apollo 11 moon mission released by National Aeronautics and Space Administration (NASA) last week.

The video highlights from the mission, including images of Neil Armstrong and Edwin Buzz Aldrin stepping on to the lunar surface, were unveiled to commemorate the 40th anniversary of the Apollo 11 mission.
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