An attempted ‘interference’ in a legal dispute associated with Mukesh Ambani’s residence prompted an explosive protest by attorney general KK Venugopal before the Supreme Court. The connection has been ignored by the mainstream media although all averments are in the public domain. Newsclick connects the dots in this exclusive analysis.
Competition heated up between India’s two richest men as the Adani Group announced its foray into telecommunications, a sector dominated by Mukesh Ambani’s Reliance Industries Group. Until recently, the two did not encroach on each other’s turf. But that’s no longer the case. The claws of the oligarchs are out.
In a rare instance of not getting its way, the Adani Group failed earlier this year to acquire the assets of the scandal-tainted finance company, DHFL. However, with messy legal disputes potentially de-railing the outcome of the bankruptcy process, there is a chance that a fresh round of bidding may yet take place. This would put Adani back in the race for DHFL’s assets.
In a letter to Communications Minister Ravi Shankar Prasad, Congress MP Kumar Ketkar has claimed that the government is displaying ‘inexplicable tardiness’ in collecting its dues payable by Reliance Industries Limited, the ‘true licensee’ of the telecom spectrum that is used by its ‘front’ company Infotel, which later became its subsidiary, Jio.
The recent verdict by the Supreme Court bench headed by Justice Arun Mishra, one of his last judgements before retirement, on the so-called AGR or adjusted gross revenues case could lead to the formation of a duopoly in India’s telecom sector.
A number of significant changes in rules and regulations by the Indian government during the COVID-19 lockdown facilitated a rights issue of shares by Reliance Industries Limited.
The recently-concluded rights issue of shares by Reliance Industries Limited would not have been possible were it not for the relaxation of a crucial rule by the Securities and Exchange Board of India a few days before the Mukesh Ambani-headed company declared that it would conduct the country’s biggest-ever rights issue to raise over Rs 53,000 crore. This is the sixth article in a series.
Are there clear conflicts of interest in the joint venture between SBI and Jio Payments Bank? With over Rs 1 lakh crore of foreign investments in Reliance Jio, bankers are expressing concern about the security implications of the investments for SBI and Jio Payments Bank. This is the seventh article in a series.
India’s biggest ever rights issues of shares by the country’s single largest private corporate entity, Reliance Industries Limited, is under way at a time when the economy is in terrible shape. Is the fund raising effort being conducted in a manner that could end up with the company’s shareholders paying more than what they should for discounted shares?
