Archive for ‘Anil Ambani’

19/03/2019

Mukesh Ambani: India’s richest man helps his brother avoid jail

Chairman, Managing Director of Reliance Industries Limited Mukesh Ambani, his wife Nita Ambani, brother and Chairman of Reliance Group Anil Ambani and his wife Tina Ambani during the Padma Awards Investiture ceremony at Rashtrapati Bhawan on March 28, 2016 in New Delhi, IndiaImage copyrightGETTY IMAGES
Image caption: Mukesh Ambani, left, sits next to his wife Nita Ambani, and Anil Ambani on the right

India’s richest man Mukesh Ambani has paid a debt payment owed by his brother, saving him from spending time in prison.

Anil Ambani faced a prison sentence after a deal between his firm Reliance Communications (RCom) and telecoms giant Ericsson collapsed.

That left his firm owing Ericsson 5.5bn rupees ($80m; £60m), which it failed to pay by a court deadline.

The move marks a new twist a long-running feud between the brothers.

RCom failed to comply with an India Supreme Court order to pay Ericsson the money by 15 December last year.

The court found him guilty of contempt, giving him another four weeks to pay or go to prison.

On Monday, RCom said the debt had been paid.

“My sincere and heartfelt thanks to my respected elder brother, Mukesh, and (his wife) Nita, for standing by me during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support,” Anil Ambani said.

The two brothers have long had an acrimonious relationship, fighting over their father’s businesses after he died in 2002 without a will.

The Reliance empire was divided between the two brothers in 2005 after a bitter seven-month feud.

The brothers have fought bruising court battles in the past over natural gas interests.

Mukesh Ambani is worth more than $54bn, according to Bloomberg.

His firm Reliance Industries, whose activities span from oil to telecommunications, is among India’s most valuable companies.

By contrast, Anil Ambani has an estimated net worth of around $300m, Bloomberg said.

The Ambani family made headlines last year with the lavish wedding of Mukesh Ambani’s daughter, Isha Ambani, which featured a performance from US singer Beyoncé

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02/03/2019

‘One chowkidar has defamed all others’: Rahul Gandhi’s renews attack on PM Modi

Rahul Gandhi renewed his attack on PM Modi over Rafale deal controversy during his public rally in Jharkhand

INDIA Updated: Mar 02, 2019 15:58 IST

HT Correspondent
HT Correspondent
Hindustan Times, Ranchi
Rahul Gandhi,ranchi,jharkhand
Congress president Rahul Gandhi addressing a public rally in Jharkhand on Saturday.(Photo: Twitter/INCIndia)

Congress president Rahul Gandhi on Saturday renewed his attack on Prime Minister Narendra Modi reiterating his charge that he misled the people on the issues of providing corruption-free government, job creation and addressing farm distress. Gandhi said PM Modi’s image has changed from a leader who promised to bring “achchhe din” (better time) to “chowkidar chor hai” (the watchman is a thief).

Speaking at the Congress’s Parivartan Ulgulan Maha Rally at the Morahbad in Jharkhand, Gandhi said, “One chowkidar has defamed all chowkidars of India…All the chowkidars of India are honest…Everyone knows that when someone says chowkidar chor hai, it refers to Narendra Modi.”

The Congress president alleged that PM Modi “snatched” Rs 30,000 crore from the Indian Air Force (IAF), which protects the country, and the Hindustan Aeronautics Limited (HAL) and gave it to industrialist Anil Ambani in Rafale deal.

Gandhi has been targeting PM Modi over Rs 58,000-crore Rafale deal with France that India signed in 2016 for the purchase of 36 fighter planes. A similar deal was being negotiated when the Congress-led United Progressive Alliance (UPA) was in power before 0214 for the purchase of 126 Rafale jets.

The Modi government renegotiated the deal with France terming the previous one unworkable. The Congress and other opposition parties have alleged that commercial favouritism was done in Rafale deal.

Gandhi on several occasions has alleged that PM Modi personally ensured that Ambani’s firm, Reliance Defence gets contract in Rafale deal. Both the government and the Reliance Defence have rejected the allegation as baseless. Reliance Defence is an off-set partner of the Dassault Aviation, the manufacturer of Rafale fighter jets.

Addressing his first rally in Jharkhand since 2014, the Congress president repeated his charge against PM Modi saying, “It is a matter of shame that Indian Air Force protects the country, air force pilots sacrifice their lives but the prime minister steals money from the air force and puts it in Anil Ambani’s pockets.”

He claimed that in the upcoming Lok Sabha elections, the “chowkidar” will be defeated. He promised that if voted to power the Congress government will implement a minimum income guarantee programme for the poor.

Source: hindustan Times

12/02/2019

PM Modi acted like middleman of Anil Ambani: Rahul Gandhi

The Congress has been repeatedly alleging a scam in the multi-crore Rafale fighter jet deal with France.

SNS Web | New Delhi |