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Reliance in trouble over secret documents

April 3, 2012 · Filed Under Reliance Industries · Comment 

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An official Secrets Act case dating back to the time when the two Ambani brothers had not parted ways has now come back to haunt the Reliance Industries.

A Delhi court on Monday framed charges against the company and its three senior executives for possessing secret cabinet documents. The police had found the secret government documents during a raid on the office of the company’s group president in 1998.
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Mukesh Ambani’s RIL and Anil’s Reliance Power in talks to develop Sohagpur CBM block

February 1, 2012 · Filed Under Ambani Family · Comment 

Mukesh Ambani’s Reliance Industries and his younger brother Anil’s Reliance Power have held initial talks to jointly develop their adjoining coal-bed methane (CBM) blocks, giving the estranged brothers another opportunity to join forces apart from the potential handshake in the telecom sector.

Executives of RIL and Reliance Power confirmed that the two companies had initiated discussions a few months ago to optimise costs by developing common infrastructure at the contiguous CBM blocks in Madhya Pradesh. But talks were preliminary and so far they have not made significant headway, they said.
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What to expect from Ambani brothers in 2012

December 29, 2011 · Filed Under Ambani Family · Comment 

As Ambani brothers dance to the tune of garba music, many Reliance Industries and Anil Dhirubhai Ambani Group investors would have started to build high expectations from the new year.

On Tuesday, when trading began, the BSE Sensex stayed flat. Reliance Communications shares jumped 5 per cent. No other Anil Dhirubhai Ambani Group company share rose so much. Over the past one week, Reliance Communication shares have surged 17 per cent. The BSE Sensex rose 3.3 per cent during the same period.

The trading pattern of the day and the week indicates that the street has already begun to build that anticipation. They expect something to emerge out of the family get-together at Chorwad, Gujarat, the native place of the late Dhirubhai Ambani.
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Family to unite at Chorwad for Dhirubhai Ambani​ memorial

December 24, 2011 · Filed Under Ambani Family · Comment 

Amid speculation in distant Mumbai that they have buried their difference after six years of estrangement, brothers Mukesh and Anil Ambani​ are set to gather in Chorwad to dedicate a memorial to their late father and founder of India’s most valuable company Reliance Industries Ltd​ in his birthplace.

Mukund Damani, a resident of Chorwad and cousin of Dhirubhai’s widow Kokilaben, likens it to a “second homecoming” for the extended Ambani family, which will visit the nondescript coastal Gujarat town on 27-28 December.
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‘Ambani and Sons’: The story of India’s richest family

October 21, 2010 · Filed Under Ambani Family · Comment 

The first biography was published in 1998, the movie came out in 2007 and now the updated print edition is being made available by Roli Books in India.

Mukesh Ambani’s behemoth multi-story new Mumbai home is making front page headlines, fueling the public’s fascination with India’s richest family. But it took a foreign journalist, Hamish McDonald, to put their story into print.

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SC advised Ambanis to settle gas dispute

December 4, 2009 · Filed Under Reliance Industries · Comment 

Pulling it out of the realm of speculation, the Centre on Thursday was categoric before the Supreme Court that it had repeatedly advised warring Ambani brothers — Mukesh and Anil — to bury the hatchet and arrive at an amicable settlement over supply of gas.

It is a battle between them and we have told them time and again to resolve the issues. After all, they are captains of industry, said solicitor general Gopal Subramaniam after clarifying that notwithstanding the outcome of NTPC’s suit in Bombay High Court for supply of gas from RIL at cheap rates, the Centre would do everything to protect the PSU’s interests.
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RIL-RNRL gas deal could cost India Rs 1 lakh cr: Centre

November 19, 2009 · Filed Under Reliance Industries · 1 Comment 

Implementing the Ambani family agreement on gas supply by RIL to RNRL could cost the country Rs 1 lakh crore, said the Centre on Wednesday ducking the SC’s uncomfortable questions about its docile role before the Bombay HC and braving RNRL’s cross-examination threat.

Additional solicitor general Vivek Tankha reeled out statistics to show that giving effect to the private agreement overriding the production sharing contract (PSC) outlining the government’s public policy would cause a loss of Rs 25,000 crore to the government apart from rendering idle industrial infrastructure worth Rs 75,000 crore.
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Ambanis 2005 family deal not binding: RIL counsel

November 12, 2009 · Filed Under Reliance Industries · Comment 

The memorandum of understanding arrived at in the Ambani family in 2005 to divide the industrial assets between brothers Mukesh and Anil was only a ‘guiding tool’ and could not be treated as binding on the demerged companies, Reliance Industries’ counsel Harish Salve told the Supreme Court today.

Mukesh Ambani new home is world costliest

Some interesting facts about Anil Ambani

He was resuming RIL’s arguments in the five appeals against the Bombay high court judgment of July 15 in the dispute with Anil Ambani’s Reliance Natural Resources Ltd (RNRL) over Krishna-Godavari basin gas. His arguments are likely to conclude on Thursday, when the central government, the new entrant in the legal fray, will present its contentions.
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RIL: gas pricing dispute settlement reports baseless

November 11, 2009 · Filed Under Reliance Industries · Comment 

Reliance Industries said on Tuesday reports of a meeting between the billionaire Ambani brothers to settle a gas-pricing dispute were baseless.

Reliance Industries, controlled by billionaire Mukesh Ambani, is embroiled in a high-profile legal battle over a deal to sell gas to Reliance Natural Resources, led by Ambani’s estranged younger brother Anil, at below the price set by the government.
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Fresh hearing on Reliance gas dispute case

November 5, 2009 · Filed Under Reliance Industries · Comment 

The Supreme Court Thursday began hearing afresh the high profile legal dispute between the Ambani brothers, Mukesh and Anil, over the supply and pricing of natural gas.

A bench headed by Chief Justice K G Balakrishnan and having Justice B Sudarshan Reddy and Justice P Sathasivam began hearing the case afresh after another judge, Justice R V Raveendran quit the hearing saying that his daughter worked for a law firm which advised Mukesh Ambani’s Reliance Industries Limited on global acquisitions.
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