Robin Raina’s Eraaya-Ebix deal is a train wreck. The article mentions “HYPE” and discusses the deal, including the curious case of Vitasta Software. Questions are raised about where the CFO is, labeled as “ACPO AWOL”, and the source of money, mentioning the Oppocrates Fund, FPCCC, and Capital. The situation is described as “All tangled up”.
An association of small textile manufacturers and market leader Reliance Industries Limited are engaged in a fight over import duties on Mono Ethylene Glycol, a key raw material in the manufacture of synthetic fibres.
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 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.
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 decision of the central bank and banking regulator to increase the group exposure limit that banks have in calculating the quantum of loans given to a particular corporate conglomerate as a proportion of the total loans given by the specific bank, will benefit India’s biggest private company, Reliance Industries Limited. This is the fifth 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?
Not very long before the $5.7 billion (Rs 43,000 crore) investment in Reliance Jio by social media giant Facebook was announced, Mukesh Ambani and his family members shuffled their shares within the family. While this may have led to a notional gain in the value of the shares, a response sent through his lawyer asserted that since the share transactions were a transfer within the family and family entities no profits or losses can be made.
