Reliance Communications Ltd News

Jio Platforms shares trade at 22% premium in grey market ahead of IPO debut

Strong investor demand and a resilient grey market premium fuel expectations of a blockbuster listing for Mukesh Ambani's digital giant

India and the battle for satellites: The race for wider connectivity

Sly innuendos aside, the recent social media exchanges involving Starlink make a case for harnessing satellites to roll out connectivity more evenly across India

Street signs: Suitability check for F&O trading, migration rethink & more

Stockbrokers weigh stricter F&O suitability checks, a commodity exchange reviews its data centre migration plan, and Jio Platforms' grey market premium stands at 22% ahead of listing.

Jio Platforms IPO rides institutional demand to 22.19 times subscription

QIBs bid 70.6 times the quota reserved for them; retail segment bought 2.7x

A tale of 2 IPOs: Jio Platforms' unified vision & Tata Sons' divided house

The Jio Platforms listing is about unified vision and choice; Tata Sons' possible IPO faces a divided house

IPO review: Jio Platforms' ₹30,213 crore mega offer is at a minor premium

Brokerages say the firm is well positioned to sustain industry-leading growth, given market leadership, multiple triggers

IPO proceeds will make us net-debt-free company: Jio Platforms MD

Industrialist Dhirubhai Ambani, the founder of the group, took Reliance Textile Industries, which later became RIL, public in 1977

CBI chargesheets RCom, ex-LIC investment chief in ₹3,750-cr cheating case

The CBI has filed a charge sheet in the Rs 3,750-crore cheating case against Reliance Communications Ltd. (RCom), former executives of the group and a former Chief Investment Officer of Life Insurance Corporation of India for causing wrongful loss to LIC, officials said on Saturday. The CBI investigation so far has revealed that, in 2012, LIC subscribed to NCDs worth Rs. 1,500 crore issued by Reliance Communications Ltd. on the basis of serious misrepresentations, according to the central agency. In its charge sheet filed before a Special CBI court in Mumbai, the agency has named as accused "Reliance Communications Ltd., two executives of the Reliance ADA Group, namely, Amitabh Jhunjhunwala, Group MD, Vishwas Joshi, Sr. VP, Reliance Capital Limited and P. Venugopal, the then Chief Investment Officer, LIC", a CBI spokesperson said in a statement here. "The four accused have been chargesheeted for offences of criminal conspiracy, cheating and criminal breach of trust under the IPC, .

CBI files supplementary chargesheet in RCom ₹1,200 crore loan case

The CBI has filed a supplementary chargesheet in the Reliance Communications Ltd (RCom) case in connection with an alleged Rs 1,200-crore loan fraud, officials said on Friday. According to an official statement, the chargesheet was filed before the Special Judge for CBI Cases in Mumbai and names Amitabh Jhunjhunwala, Group Managing Director of the Reliance ADA Group, for alleged offences of criminal conspiracy, criminal misappropriation and cheating. The agency said its investigation revealed that Jhunjhunwala, who "enjoyed pivotal position in the group", acted in pursuance of a criminal conspiracy to "cheat State Bank of India to dishonestly and fraudulently avail a term loan of Rs 1200 crore" for Reliance Communications Ltd and Reliance Infratel Ltd. The two companies did not repay the loans, causing a "wrongful loss of around Rs 971.25 crore to the bank", the statement said. The case was registered on a complaint received from the State Bank of India. According to the FIR, the .

SC asks RCom to approach HC over DoT move to encash ₹802 cr bank guarantee

Supreme Court declines RCom's request for one-week interim protection but clarifies that it has not examined the merits of the challenge to the DoT's action

Ex-RCom official Gautam Doshi sent to ED custody in ₹40,000 cr PMLA case

A Delhi court on Saturday sent former Reliance Communications (RCom) senior executive Gautam Bhailal Doshi to five days of Enforcement Directorate custody in a money laundering case linked to alleged diversion of loan funds worth over Rs 40,000 crore. Special Judge Gaurav Rao was hearing the agency's plea seeking Doshi's custody for 14 days. Doshi was produced at the judge's residence at around 8:15 am after he was arrested and taken to Delhi from Bombay on transit remand. In its order, the court said, "Considering the submissions of ED, the nature of the allegations and to unearth the complete conspiracy as well as establish the complete fund trail, their recovery, role of other individuals involved, I deem it fit to grant 5 days' custody of the accused to the ED." The ED had sought 14 days' custodial interrogation of Doshi under provisions of the Prevention of Money Laundering Act (PMLA), contending that his custody was required to unearth the "complete conspiracy" behind the ...

NCLT admits SBI's personal insolvency plea against Anil Ambani

A division bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar admitted the application through an oral order

NCLT admits SBI's plea to start insolvency process against Anil Ambani

The Mumbai bench of the NCLT admitted SBI's application seeking recovery of more than Rs 1,200 crore from Ambani under provisions of the Insolvency and Bankruptcy Code

CBI files first chargesheet in Reliance ADA Group case against 16 accused

According to the CBI, the chargesheet has been filed against five senior executives of the company and 10 bank officials of the State Bank of India, Bank of Maharashtra and erstwhile Syndicate Bank