Forensic audit finds no fraud, fund diversion at Anil Ambani-led Reliance Home Finance
Business | January 12, 2020 20:06 ISTIn a statement, the company said the audit made "no adverse findings" on the quantum and end-use of lending.
In a statement, the company said the audit made "no adverse findings" on the quantum and end-use of lending.
The company owes Rs 91.78 crore, includes both principal and the interest, to 19,964 retail bondholders but is unable to pay because of a restraint placed by the lenders as it is undergoing is a bank-led resolution process
UK High Court has dismissed an application filed by Industrial and Commercial Bank of China Limited for a 'summary judgement in its claims of USD 680 million against RCom Chairman Anil Ambani.
Along with Bharti Airtel, VFSI Holdings Pte Ltd and UV Asset Reconstruction Company Limited have submitted their bids.
Ambani along with four directors -- Ryna Karani, Chhaya Virani, Manjari Kacker and Suresh Rangachar -- had resigned from the company earlier this month.
Anil Ambani has resigned as director of Reliance Communications, the debt-ridden company said in a filing on Saturday. According to the filing, Ambani along with Chhaya Virani, Ryna Karani, Manjari Kacker, Suresh Rangachar have resigned as directors of RCom.
Anil Ambani-led Rcom is presently going through Corporate Insolvency Resolution Process.
Reliance Power on Monday reported 80 per cent decline in its consolidated net profit in June quarter due to lower revenues.
In a statement issued here, the company said: "PWC's observations are completely baseless and unjustified. PWC has acted prematurely without even statutory discussions with the Audit Committee."
Taapsee Pannu's Game Over will be the first film to be distributed under the partnership while Hrithik Roshan's Super 30 is the next.
The Congress party and its president Rahul Gandhi had over the past few months alleged corruption in the deal to buy 36 Rafale fighter jets from France and claimed that Ambani's group got Rs 30,000 crore of benefit by way of getting offset contracts of the deal.
Congress president has termed Anil Ambani as a crony capitalist and dishonest many a times recently
The Congress has been alleging massive irregularities in the deal and has been targeting the government over selection of Ambani-owned Reliance Defence as an offset partner for Dassault Aviation.
Billionaire Anil Ambani Monday thanked his brother Mukesh and his wife Nita for extending "timely support" after his debt-laden firm Reliance Communication cleared payments due to a service provider just a day before expiry of deadline set by the Supreme Court.
Racing against time to meet the Supreme Court's deadline, Reliance Communications (RCom) has paid Rs 458.77 crore of dues to Swedish telecom equipment maker Ericsson, according to sources.
The new airport is being constructed near National Highway-8B connecting Ahmedabad and Rajkot, nearly 36 km from the existing Rajkot Airport. The company emerged winner among nine bidders that included Larsen & Toubro, Dilip Buildcon and Gayatri Projects.
"There were parallel negotiations going on in the deal. PM Modi wanted to put Rs 30,000 crore in the pocket of Anil Ambani," Gandhi said.
Supreme Court orders Anil Ambani to pay Rs 550 Cr to Ericsson India
On Feb 13, a bench of Justices R F Nariman and Vineet Saran reserved its judgement when Ericsson India had alleged that the Reliance Group has money to invest in the Rafale jet deal but they were unable to clear its Rs 550-crore dues, a charge which was vehemently denied by the Anil Ambani-led company.
It is pertinent to mention here that just months ahead of Lok Sabha elections 2019, the principal opposition party is trying to corner the Centre over the Rafale deal.
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