Asia's richest man, Mukesh Ambani, appointed his three children Isha, Akash, and Anant to the board of the company, which he will continue to lead for another five years, and started carrying out a succession plan for his USD 200 billion energy-to-technology conglomerate Reliance Industries. The three kids have only been involved in the running [...]
Reliance Retail, which recently raised USD 1 billion from Qatar's sovereign agency, has garnered significant interest from a number of renowned international strategic and financial investors, RIL Chairman Mukesh Ambani said on Monday. He also stated that the retail venture would rank among the top four listed entities if it were to be listed on [...]
Venus Remedies announced on Monday that it has received the marketing approval for Enoxaparin in pre-filled syringes in Saudi Arabia. The drug is an anticoagulant, i.e, it prevents blood clots. Enoxaparin plays a crucial role in addressing blood clot formation in patients suffering from deep-vein thrombosis, acute coronary syndrome, heart attacks and pulmonary embolism. Venus [...]
A three-member National Company Law Appellate Tribunal bench (NCLAT) on Monday extended the time till September 30 for Jalan-Kalrock Consortium for payment of Rs 350 crore to the lenders of the bankrupt Jet Airways. Jalan-Kalrock Consortium had emerged as the winning bidder for the airline, which stopped flying in April 2019 and later underwent an [...]
In a regulatory filing, Embassy Office Parks REIT (Real Estate Investment Trust) stated that the Debenture Committee of the Board of Directors of the manager has approved the allotment of 50,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh on a private placement basis. This will be worth Rs. 500 crore and [...]
Chairman of Reliance Industries Ltd, the owner of world's largest single-location oil refining complex, Mukesh Ambani said on Monday that the company will set up 100 compressed biogas plants to convert agri-waste into gas. He further stated that this would result in reduction of about 7 million tonnes per annum of imported LNG. Speaking at [...]
Jio Platforms is keen to lead efforts in developing India-specific AI models and AI-powered solutions across domains, delivering the benefit of this new-age technology to Indian citizens, businesses and government. Ambani considers AI the most exciting growth frontier, and stated his commitment to create close to 2 GW of AI powered computing capacity across cloud [...]
As per the scrutinizer's stock exchange report filed by JK Lakshmi Cement Ltd (“JKLC”),shareholders of JKLC have rejected a special resolution for increasing inter corporate transaction limit to Rs 10,000 crore. As per section 186 of Companies’ Act 2013, the mandate is to require a supermajority to pass the special resolution i.e, 75%. The resolution [...]
Medi Assist Healthcare Services has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The company is making its second effort to go public. It had previously submitted draft papers to the Securities and Exchange Board of India (Sebi) in May 2021 with the purpose of issuing [...]
Following the disallowance of Rs 9,545 crore (USD 1.16 billion) in some incurred expenditures, mining billionaire Anil Agarwal's Vedanta Ltd won an arbitration against a demand for a bigger payout from its productive Rajasthan oil and gas reserves, the company said. The government has sought additional profit petroleum (or its share from the oil and [...]
