Editorji is a popular short video news and information platform based in India. It was founded in 2018 by Vikram Chandra, one of India’s leading journalists, and has risen to prominence in the digital news space in a relatively short span of time. The platform is primarily designed for mobile devices, with applications available for Android and iOS.

ABOUT US:

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>
<a title="Contact Us" href="mailto:info@editorji.com">Contact Us</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Editorji content is better experienced in our app.

Reliance Power has been in focus since the day the company declared itself debt free. On September 18, Reliance Power said that it had settled its entire debt obligation of ₹3,872 crore as the guarantor for Vidarbha Industries Power&nbsp;

Anil Ambani-Led Reliance Power Hits 5% Upper Circuit; Seeks Shareholder Nod for Fundraise

Reliance Power has been in focus since the day the company declared itself debt free. On September 18, Reliance Power said that it had settled its entire debt obligation of ₹3,872 crore as the guarantor for Vidarbha Industries Power&nbsp;

Anil Ambani-led Reliance Power is seeking shareholder nod to raise ₹1,524.60 crore through a preferential issue. The e-voting window for the proposal opened earlier on Tuesday and it will end on October 23, 2024. The result of the postal ballot will be announced on or before October 25.&nbsp; Reliance Power: Debt Free Company Reliance Power has been in focus since the day the company declared itself debt free. On September 18, Reliance Power said that it had settled its entire debt obligation of ₹3,872 crore as the guarantor for Vidarbha Industries Power (VIPL).The company settled its disputes with CFM Asset Reconstruction which led to 100% shares of VIPL being pledged in favour of CFM. The full settlement resulted in the release and discharge of the corporate guarantee, undertakings, and all obligations of Reliance Power. Reliance Power: Turnaround Mode After the settlement of its debt, Reliance Power is now in the turnaround mode. On September 23, the board of Reliance Power approved raising ₹1,524.60 crore through a preferential issue where promoters will invest ₹600 crore into the company to advance its business.Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over ₹600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. Preferential Issue Details According to the postal ballot notice, the company preferential issue will have up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant.The preferential issue proceeds would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes, the company has said.The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore. Reliance Power Shares Surge Reliance Power shares have surged on these positive cues. The stock has been gaining for nine straight sessions, hitting 5% upper circuit in more than half of these session. On Tuesday, the stock hit a 52-week high of ₹40.05.

The stock market loved the news, with shares soaring as a result

Anil Ambani's Reliance Power Becomes A Debt Free Company; Stock Hits Upper Circuit

Reliance Power has just wiped out its debt, settling an obligation of 3,872 crore rupees

Is Anil Ambani staging the ultimate comeback? Once the richest man in India, his fortunes took a hit over the years.
But now, he&rsquo;s fighting back by slashing debt across his companies. The latest milestone? Reliance Power has just wiped out its debt, settling an obligation of 3,872 crore rupees!&nbsp;
After reducing significant debt, these stocks have risen by over 5 percent, hitting the upper circuit limit, showing strong investor confidence.&nbsp;
Similarly, Reliance Infrastructure Ltd's shares jumped by 8 percent, going from Rs. 235.65 to Rs. 254.4 per share, and are currently trading at Rs. 247.35.
Reason for the rise:
Reliance Power announced it has cleared all its debt owed to banks and financial institutions. At the end of Q1 FY25, the company&rsquo;s consolidated net worth is Rs. 11,155 crore.
Likewise, Reliance Infrastructure Ltd., part of the Anil Ambani Group, has reduced its standalone external debt from Rs. 3,831 crore to Rs. 475 crore.
Also Watch: <a href="https://www.editorji.com/business-news/tupperware-files-for-bankruptcy-after-78-years-what-went-wrong-1726654345071">Tupperware Files for Bankruptcy After 78 Years: What Went Wrong?</a>

Reliance Power has settled debts with major lenders, while Reliance Infrastructure is in talks for debt settlement. 

Anil Ambani’s Reliance Power, Reliance Infra surge to near 5 year highs: What’s behind the bounce-back?

Reliance Power has settled debts with major lenders, while Reliance Infrastructure is in talks for debt settlement.&nbsp;

Anil Ambani&rsquo;s Reliance Group is in focus, with shares of its companies, Reliance Power and Reliance Infrastructure trading near five-year highs. The surge comes on the back of reports that these companies are actively settling their debts.
Settling Reliance Power debt
Last week Reliance Power settled the debt owed to three lenders - ICICI Bank, Axis Bank, and DBS Bank, according to a report by The Economic Times. The report, quoting one of the lenders, said that the three banks together had about ₹400 crore and they almost recovered 30-35% of their principal loans.
One of the lenders said that Reliance Power is planning to become a debt-free company by the end of the current financial year (FY24). The banker also said that &ldquo;the only debt on Reliance Power&rsquo;s books will be the working capital loan from IDBI Bank&rdquo;, the report added.
Reliance Infra dues settlement
Not only Reliance Power, but Anil Ambani&rsquo;s Reliance Infrastructure is also actively working towards settling its dues. Reports suggest that the company is in talks with JC Flowers Asset Reconstruction Company to debt of ₹2,100 crore.
The original lender in this case was Yes Bank which had transferred its distressed loans to JC Flowers ARC. In January this year, Reliance Infrastructure had entered into a standstill deal with the asset reconstruction company, which meant that the ARC will not initiate any legal action against company until the end of March 2024.&nbsp;
The Share Prices
On the back of these developments, both Reliance Power and Reliance Infrastructure have made healthy gains in Wednesday's trading session. During initial trading, Reliance Power was up over 3%, while Reliance Infrastructure gained over 2%. Both the stocks are now near there five-year peaks. Remember, these stocks have traded at single-digit, low double-digit values for many years.
Anil Ambani&rsquo;s Comeback
These debt settlements and the bounce back in value of shares mark a comeback for Anil Ambani, the younger brother of Asia and India&rsquo;s richest person, Mukesh Ambani. In 2008, Anil Ambani had not only become the world's sixth wealthiest individual with a net worth of $42 billion, he was also richer than Mukesh Ambani. However, later his business empire received many setbacks and his wealth dwindled.

Maharashtra to buy Anil Ambani’s stake in Mumbai Metro One for this much…

<h2>Mumbai Metro One, the city's inaugural metro project initiated in 2007 under the Build-Operate-Transfer or BOT model, has been embroiled in disputes between its joint venture partners</h2>

The Maharashtra Cabinet has granted an initial approval for the acquisition of Mumbai Metro One. This move involves the takeover of a public-private partnership project jointly owned by Reliance Infrastructure, headed by Anil Ambani, and the Mumbai Metropolitan Region Development Authority. An estimate by The Hindustan Times values Ambani's 74% stake in the venture at ₹4,000 crore. Mumbai Metro One, the city's inaugural metro project initiated in 2007 under the Build-Operate-Transfer or BOT model, has been embroiled in disputes between its joint venture partners. The MMRDA-Reliance Infra joint venture has been fraught with disputes over various issues, including the project's costs, commercial exploitation of metro premises, ticketing structure, and fare hike demands by MMOPL. Despite being the most crowded metro to date, MMOPL has consistently claimed losses, while MMRDA has questioned these claims and rejected fare hike demands.

The industrialist had appeared before the ED in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others

Anil Ambani appears before ED in FEMA case 

The industrialist had appeared before the ED in 2020 in a money&nbsp;laundering&nbsp;case against&nbsp;Yes Bank promoter Rana Kapoor and others

Reliance ADA Group Chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said.
Ambani, 64, deposed at the office of the federal agency in the Ballard Estate area to record his statement in the case, registered under various sections of the Foreign Exchange Management Act (FEMA), they said.
Further details of the case in which Ambani was summoned were not immediately known.
The industrialist had appeared before the ED in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others.

Anil Ambani received a notice from the IT department on August 8, 2022, for reportedly evading taxes on undeclared funds totaling more than ₹814 crore held in two Swiss bank accounts by ₹420 crore.

Temporary stay on show-cause notice to Anil Ambani under Black Money Act to continue: Bombay HC

Anil Ambani received a notice from the IT department on August 8, 2022, for reportedly evading taxes on undeclared funds totaling more than ₹814 crore held in two Swiss bank accounts by ₹420 crore.

The Bombay High Court on Wednesday continued the interim stay on the show-cause notice and penalty demand issued to industrialist Anil Ambani by the Income Tax department under the Black Money Act.&nbsp;
A division bench of Justices Gautam Patel and Neela Gokhale posted Ambani's petition challenging the notice and penalty demand for hearing on April 28, and gave time to the IT department to file its reply.
The HC had in September 2022 granted an interim stay to the show-cause notice pending hearing.
In March this year, Ambani's lawyer Rafique Dada informed the court that the department later also issued a penalty demand notice to his client.
The court then granted an interim stay to the demand notice too.
On Wednesday, when the petition came up for hearing, advocate Akhileshwar Sharma, appearing for the IT department, sought two weeks to file a 'comprehensive affidavit' in response to the amended petition.
'The petition has been amended adding some more IT officials as respondents and (the petitioner) has also annexed certain new documents. The department wants time to file a comprehensive affidavit,' Sharma said.
The court directed that the affidavit be filed by April 21.
'The petition shall be listed for hearing on April 28. The interim orders passed earlier - stay on the show-cause notice and the penalty demand - shall continue till further orders,' the bench said.
The IT department issued a notice to Anil Ambani on August 8, 2022, for allegedly evading ₹420 crore in taxes on undisclosed funds of more than ₹814 crore held in two Swiss bank accounts.
The industrialist was liable to be prosecuted under Sections 50 and 51 of the Black Money (Undisclosed Foreign Income and Assets) Imposition of Tax Act of 2015 which prescribes a maximum sentence of 10 years with fine, the IT notice said.
The department charged Ambani with 'wilful' evasion, saying he 'intentionally' did not disclose his foreign bank account details and financial interests.
Ambani in his petition claimed that the Black Money Act was enacted in 2015 and the alleged transactions were of assessment years 2006-2007 and 2010-2011.
The provisions of the Act cannot have retrospective effect, he argued.
According to the IT department's notice, Ambani was an 'economic contributor as well as beneficial owner' of Bahamas-based 'Diamond Trust' and British Virgin Islands-incorporated Northern Atlantic Trading Unlimited (NATU).
He 'failed to disclose' these foreign assets in his income tax return (ITR) filings and hence violated the Black Money Act, it said.
The act was brought in by the Narendra Modi government soon after it came to power in 2014.
IT officials assessed the total value of undisclosed funds in the two Swiss Bank accounts at ₹814 crore and tax payable on this amount at ₹420 crore.

Delhi LG alleges violation by AAP, seeks removal of govt nominees from Anil Ambani-owned DISCOMs Board
 

According to the Raj Niwas statement, their nomination to the Boards of the DISCOMs was patently illegal since the due process of law was not followed and their appointment was void ab initio.
&nbsp;

Alleging "total violation of Constitutional provisions" by Aam Aadmi Party (AAP) government in illegal appointment of private individuals as government nominees on the Board of Anil Ambani-owned DISCOMs BRPL (BSES Rajdhani Power Limited) and BYPL (BSES Yamuna Power Limited), Delhi Lieutenant Governor VK Saxena on Friday asked for the removal of these nominees and replace them with Senior Government Officers, as had been the practice in the past. These nominees include AAP Spokesperson Jasmine Shah, Naveen ND Gupta (son of AAP MP, ND Gupta), Umesh Tyagi and JS Deswal.
According to the Raj Niwas statement, their nomination to the Boards of the DISCOMs was patently illegal since the due process of law was not followed and their appointment was void ab initio. The LG has taken these decisions on the basis of an inquiry report submitted by the Delhi Power Department and the Chief Secretary in light of a complaint dated September 26, 2022.
These compromised nominees provided undue financial benefits running into thousands of crores to Ambani's DISCOMs, at the cost of the state exchequer and Delhi government-run undertakings (DTL, IPGCL and PPCL). LG has asked for Chief Minister Arvind Kejriwal to be informed about this and action be taken. It has been brought out in the report that, these private individuals were illegally appointed surreptitiously by the AAP government as 'government nominees' on the Board of BRPL and BYPL in 2019, despite written objections on file by the then LG, Najeeb Jung on November 1, 2016 and LG, Anil Baijal on August 11, 2017.
&nbsp;

The Income Tax Investigation Wing's Mumbai branch has detected undeclared offshore assets and investments of Anil Ambani, Chairman of the Reliance (ADA) Group. Against this, the agency has also passed a final order in March 2022 case under the 2015 Black Money Act.
The Black Money Act order was filed following the issuance of notices to the industrialist on a web of alleged undeclared offshore assets, the first in 2019.
The order lists offshore entities and details of transactions in linked bank accounts adding up to over Rs 800 crore. The order has detailed Anil Ambani’s Beneficial Ownership of entities in two offshore havens, the Bahamas and the British Virgin Islands.
In February 2020, Ambani had declared to a UK court that he was "bankrupt" and his net worth was "zero."

'Bankrupt' Anil Ambani's Rs 800 crore offshore assets detected

In February 2020, Ambani had declared to a UK court that he was "bankrupt" and his net worth was "zero."

The Income Tax Investigation Wing's Mumbai&nbsp;branch has detected undeclared offshore assets and investments of Anil&nbsp;Ambani, Chairman of the Reliance (ADA) Group. Against this, the agency has also passed a final order in March 2022 case under the 2015 Black Money Act.
The Black Money Act order was filed following the issuance of notices to the industrialist on a web of alleged undeclared offshore assets, the first in 2019.
The order lists offshore entities and details of transactions in linked bank accounts adding up to over Rs 800 crore.&nbsp;The order has detailed&nbsp;Anil Ambani&rsquo;s Beneficial Ownership of entities in two offshore havens, the Bahamas and the British Virgin Islands.
In February 2020, Ambani had declared to a UK court that he was "bankrupt" and his net worth was "zero."

Adani Finserve, ICICI Lombard, Tata AIG, HDFC Ergo, and Nippon Life Insurance are among the 54 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital Ltd, promoted by the Anil Ambani Group, as per a PTI report.
The last date for submission of bids for the debt-ridden firm had been extended to March 25 from March 11 earlier by the Reserve Bank-appointed administrator.
Other bidders include Yes Bank, Bandhan Financial Holdings, Cholamandam Investment, OakTree Capital, Blackstone, Brookfield, TPG, KKR, Piramal Finance and Poonawala Finance, sources said.
The deadline was extended on the request of some prospective bidders who had sought more time to submit the Expressions of Interest (EoI), sources said.
The Reserve Bank of India (RBI) had on November 29 last year superseded the board of Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues.
This is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC) recently. The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).
According to the sources, a majority of the bidders, who have submitted EOIs, have bid for the entire company, while the others have bid for one or more subsidiaries of RCL.
The bidders had two options - either they could bid for the entire RCL or any one or more than one of the subsidiaries of Reliance Capital.
Reliance Capital's subsidiaries include Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance and Reliance Commercial Finance.
Following the takeover of the board, the RBI appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the company.
RBI subsequently filed an application for initiation of CIRP against the company at the Mumbai bench of the National Company Law Tribunal (NCLT).
Earlier in February this year, the RBI-appointed administrator had invited expressions of interest (EoIs) for sale of Reliance Capital.
In September, RCL in its annual general meeting (AGM) had informed shareholders that the company's consolidated debt was Rs 40,000 crore. It had reported narrowing of its consolidated net loss to Rs 1,759 crore in the quarter ended December 2021.
The company had posted a net loss of Rs 3,966 crore in the same quarter a year ago. However, net loss widened from Rs 1,156 crore in the preceding quarter ended September 2021. Total income of the company stood at Rs 4,083 crore in Q3FY22, down from Rs 4,890 crore in Q3FY21.
RCL was incorporated on March 5, 1986 and is registered as Non-Banking Financial Company Core Investment Company (CIC)-Non-Deposit Taking Systemically Important (NBFC-CIC-ND-SI) under the Reserve Bank of India Act, 1934. 

Adani, Tata AIG, ICICI Lombard among 54 prominent bidders for Reliance Capital

Adani, ICICI, Tata, and HDFC among the 54 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital, promoted by the Anil Ambani Group

Who will buy Reliance Capital?

Adani Finserve, ICICI Lombard, Tata AIG, HDFC Ergo, and Nippon Life Insurance are among the 54 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital Ltd, promoted by the Anil Ambani Group, as per a PTI&nbsp;report. The Reserve Bank of India (RBI) had on November 29 last year superseded the board of Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues.&nbsp;This is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC) recently. The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).

Reliance Capital is the third large NBFC&nbsp;against which the RBI has initiated bankruptcy proceedings recently.

Adani Finserve, ICICI Lombard, Tata AIG, HDFC Ergo, and Nippon Life Insurance are among the 54 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital Ltd, promoted by the Anil Ambani Group, as per a PTI&nbsp;report.
Also read/watch |&nbsp;<a title="End of financial year 2022: Three things you must do before March 31" href="https://www.editorji.com/business-news/personal-finance/do-this-before-march-31-else-your-pan-card-will-become-inactive-1647865941712" target="_blank">End of financial year 2022: Three things you must do before March 31</a>
The last date for submission of bids for the debt-ridden firm had been extended to March 25 from March 11 earlier by the Reserve Bank-appointed administrator.
Other bidders include Yes Bank, Bandhan Financial Holdings, Cholamandam Investment, OakTree Capital, Blackstone, Brookfield, TPG, KKR, Piramal Finance and Poonawala Finance, sources said.
Also read/watch |&nbsp;<a title="Anil Ambani resigns as director of RPower, RInfra" href="https://www.editorji.com/business-news/markets/anil-ambani-resigns-as-director-of-rpower-rinfra-1648460805222" target="_blank">Anil Ambani resigns as director of RPower, RInfra</a>
The deadline was extended on the request of some prospective bidders who had sought more time to submit the Expressions of Interest (EoI), sources said.
The Reserve Bank of India (RBI) had on November 29 last year superseded the board of Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues.
This is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC) recently. The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).
According to the sources, a majority of the bidders, who have submitted EOIs, have bid for the entire company, while the others have bid for one or more subsidiaries of RCL.
The bidders had two options - either they could bid for the entire RCL or any one or more than one of the subsidiaries of Reliance Capital.
Reliance Capital's subsidiaries include Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance and Reliance Commercial Finance.
Following the takeover of the board, the RBI appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the company.
RBI subsequently filed an application for initiation of CIRP against the company at the Mumbai bench of the National Company Law Tribunal (NCLT).
Earlier in February this year, the RBI-appointed administrator had invited expressions of interest (EoIs) for sale of Reliance Capital.
In September, RCL in its annual general meeting (AGM) had informed shareholders that the company's consolidated debt was Rs 40,000 crore. It had reported narrowing of its consolidated net loss to Rs 1,759 crore in the quarter ended December 2021.
The company had posted a net loss of Rs 3,966 crore in the same quarter a year ago. However, net loss widened from Rs 1,156 crore in the preceding quarter ended September 2021. Total income of the company stood at Rs 4,083 crore in Q3FY22, down from Rs 4,890 crore in Q3FY21.
RCL was incorporated on March 5, 1986 and is registered as Non-Banking Financial Company Core Investment Company (CIC)-Non-Deposit Taking Systemically Important (NBFC-CIC-ND-SI) under the Reserve Bank of India Act, 1934.&nbsp;

Reliance Group Chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator SEBI order restraining him from associating with any listed company.
"Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order," Reliance Power said in a BSE filing.
In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board "in compliance of SEBI interim order".
Sebi in February barred Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for allegedly siphoning off funds from the company.
The regulator also restrained Ambani and three others from "associating themselves with any intermediary registered with Sebi, any listed public company or acting directors/ promoters of any public company which intends to raise money from the public till further orders." The two Reliance Group companies said that Rahul Sarin has been appointed as an Additional Director in the capacity of Independent Director for a term of five years on Friday on the boards of RPower and RInfra, subject to approval of members at the general meeting.
The board of directors of the company unanimously reposed full trust in Ambani's leadership and invaluable contribution to steering the company through great financial challenges and towards being potentially debt-free in the course of the coming financial year, the firms said.
They also said that the boards look forward to an early closure of the matter and inviting Ambani back to provide his vision and leadership to the company in the interest of all stakeholders.
During the past one year the company has created immense value for its around 8 lakh shareholders with stock price increasing from a low of Rs 32 to a high of Rs 150 (469%), the boards noted.
Rahul Sarin, 72, a civil servant with a distinguished record of public service of over 35 years, retired as Secretary to Government of India.
At present Sarin is a director of Afthonia Private Limited.

Anil Ambani resigns as director of RPower, RInfra

Reliance Group Chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator SEBI order restraining him from associating with any listed company.

Anil Ambani resigns

Reliance Group Chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator SEBI order restraining him from associating with any listed company.&nbsp;Sebi in February barred Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for allegedly siphoning off funds from the company.

Sebi in February barred Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market

Reliance Group Chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator SEBI order restraining him from associating with any listed company.
"Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order," Reliance Power said in a BSE filing.
In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board "in compliance of SEBI interim order".
Sebi in February barred Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for allegedly siphoning off funds from the company.
The regulator also restrained Ambani and three others from "associating themselves with any intermediary registered with Sebi, any listed public company or acting directors/ promoters of any public company which intends to raise money from the public till further orders." The two Reliance Group companies said that Rahul Sarin has been appointed as an Additional Director in the capacity of Independent Director for a term of five years on Friday on the boards of RPower and RInfra, subject to approval of members at the general meeting.
The board of directors of the company unanimously reposed full trust in Ambani's leadership and invaluable contribution to steering the company through great financial challenges and towards being potentially debt-free in the course of the coming financial year, the firms said.
They also said that the boards look forward to an early closure of the matter and inviting Ambani back to provide his vision and leadership to the company in the interest of all stakeholders.
During the past one year the company has created immense value for its around 8 lakh shareholders with stock price increasing from a low of Rs 32 to a high of Rs 150 (469%), the boards noted.
Rahul Sarin, 72, a civil servant with a distinguished record of public service of over 35 years, retired as Secretary to Government of India.
At present Sarin is a director of Afthonia Private Limited.

Adani Finserve, KKR, Piramal Finance and Poonawala Finance are among the 14 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital Ltd, promoted by the Anil Ambani Group, sources said.
The last date for submission of bids for the debt-ridden firm was extended to March 25 from the previous fixed date of March 11 by the Reserve Bank-appointed administrator.
The Reserve Bank of India (RBI) had on November 29 last year superseded the board of Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues.
This is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC) recently. The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).
The deadline has been extended on the request of some prospective bidders who have sought more time to submit the EOIs, sources said.
ArpWood, Varde Partners, Multiples Fund, Nippon Life, JC Flowers, Brookfield, Oaktree, Apollo Global, Blackstone, and Hero Fincorp are the other major companies that have submitted Expressions of Interest (EoI) for Reliance Capital by 11 March, they said.
According to the sources, the vast majority of the bidders, who have submitted EOIs, have bid for the entire company.
The bidders have two options - either they can bid for the entire RCL or any one or more than one of the eight subsidiaries of the NBFC firm.
The Reliance Capital subsidiaries include Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance and Reliance Commercial Finance.
Following the takeover of the board, RBI-appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the company.
RBI subsequently filed an application for initiation of CIRP against the company at the Mumbai bench of the National Company Law Tribunal (NCLT).
Earlier in February this year, the RBI appointed administrator had invited expressions of interest (EoIs) for sale of Reliance Capital.
In September, Reliance Capital in its annual general meeting (AGM) had informed shareholders that the company's consolidated debt was Rs 40,000 crore. It had reported narrowing of its consolidated net loss to Rs 1,759 crore in the quarter ended December 2021.
The company had posted a net loss of Rs 3,966 crore in the same quarter a year ago. However, net loss widened from Rs 1,156 crore in the preceding quarter ended September 2021. Total income of the company stood at Rs 4,083 crore in Q3FY22, down from Rs 4,890 crore in Q3FY21.
RCL was incorporated on March 5, 1986 and is registered as Non-Banking Financial Company Core Investment Company (CIC)-Non-Deposit Taking Systemically Important (NBFC-CIC-ND-SI) under the Reserve Bank of India Ac

Adani, Piramal, Poonawala all eyeing to acquire this business from Anil Ambani

In September, Reliance Capital in its annual general meeting (AGM) had informed shareholders that the company's consolidated debt was Rs 40,000 crore.

Adani, Piramal eye Anil Ambani's firm

Languishing in debt,&nbsp;Anil&nbsp;Ambani&nbsp;promoted Reliance Capital has investors from Adani, Piramal&nbsp;to&nbsp;Poonawala&nbsp;interested in acquiring the non banking finance companies as per reports. The last date for submission of bids for the debt-ridden firm is set for March 25 by the RBI&nbsp;administrator.&nbsp; But these top industrialists are not the only ones as per reports&nbsp;ArpWood, Varde Partners, Multiples Fund, Nippon Life, JC Flowers, Brookfield, Oaktree, Apollo Global, Blackstone, and Hero Fincorp&nbsp;have submitted Expressions of Interest (EoI) for Reliance Capital.&nbsp; (use name gfx on a single plate)
The bidders have two options - either they can bid for the entire RCL or any one or more than one of the eight subsidiaries of the NBFC firm.
Reliance Capital which currently has a consoldiated&nbsp;debt of 40,000 crore&nbsp;has&nbsp;subsidiaries which include Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance and Reliance Commercial Finance.

In September, Reliance Capital in its annual general meeting (AGM) had informed shareholders that the company's consolidated debt was Rs 40,000 crore.

Adani Finserve, KKR, Piramal Finance and Poonawala Finance are among the 14 prominent firms that have expressed interest to acquire debt-ridden Reliance Capital Ltd, promoted by the Anil Ambani Group, sources said.
Also read &amp; watch:&nbsp;<a title="Paytm share price at record low, Macquarie highlights more worries" href="https://www.editorji.com/business-news/markets/maquarie-says-paytm-pain-to-worsen-lowers-target-even-further-1647238249504">Paytm share price at record low, Macquarie highlights more worries</a>
The last date for submission of bids for the debt-ridden firm was extended to March 25 from the previous fixed date of March 11 by the Reserve Bank-appointed administrator.
The Reserve Bank of India (RBI) had on November 29 last year superseded the board of Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues.
This is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC) recently. The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).
The deadline has been extended on the request of some prospective bidders who have sought more time to submit the EOIs, sources said.
ArpWood, Varde Partners, Multiples Fund, Nippon Life, JC Flowers, Brookfield, Oaktree, Apollo Global, Blackstone, and Hero Fincorp are the other major companies that have submitted Expressions of Interest (EoI) for Reliance Capital by 11 March, they said.
According to the sources, the vast majority of the bidders, who have submitted EOIs, have bid for the entire company.
The bidders have two options - either they can bid for the entire RCL or any one or more than one of the eight subsidiaries of the NBFC firm.
The Reliance Capital subsidiaries include Reliance General Insurance, Reliance Nippon Life Insurance, Reliance Securities, Reliance Asset Reconstruction Company, Reliance Home Finance and Reliance Commercial Finance.
Following the takeover of the board, RBI-appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the company.
RBI subsequently filed an application for initiation of CIRP against the company at the Mumbai bench of the National Company Law Tribunal (NCLT).
Earlier in February this year, the RBI appointed administrator had invited expressions of interest (EoIs) for sale of Reliance Capital.
In September, Reliance Capital in its annual general meeting (AGM) had informed shareholders that the company's consolidated debt was Rs 40,000 crore. It had reported narrowing of its consolidated net loss to Rs 1,759 crore in the quarter ended December 2021.
The company had posted a net loss of Rs 3,966 crore in the same quarter a year ago. However, net loss widened from Rs 1,156 crore in the preceding quarter ended September 2021. Total income of the company stood at Rs 4,083 crore in Q3FY22, down from Rs 4,890 crore in Q3FY21.
RCL was incorporated on March 5, 1986 and is registered as Non-Banking Financial Company Core Investment Company (CIC)-Non-Deposit Taking Systemically Important (NBFC-CIC-ND-SI) under the Reserve Bank of India Ac

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award that it says it needs to repay lenders.
The Supreme Court on Thursday upheld the 2017 arbitration award in favor of&nbsp;Anil Ambani&rsquo;s unit. The arbitration tribunal award is worth over Rs 4,600 crore&nbsp;including interest, according to Reliance Infrastructure&rsquo;s annual report.
Reliance Infrastructure&rsquo;s unit had in 2008 entered into a contract with Delhi Metro for running the country&rsquo;s&nbsp;first private city rail&nbsp;project till 2038. Following disputes over fee and operations in 2012, Ambani&rsquo;s firm stopped operating the capital&rsquo;s airport metro project and initiated an arbitration case against&nbsp;Delhi Metro.

Anil Ambani's Reliance Infra wins Rs 4,600 cr arbitration award against Delhi Metro

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award that it says it needs to repay lenders.
&nbsp;

Arbitration award of Rs 4,600 cr to b used to repay lender

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award worth over Rs 4,600 crore.
The Supreme Court on Thursday upheld the 2017 arbitration award in favor of&nbsp;Anil Ambani&rsquo;s unit. The arbitration tribunal award is worth over Rs 4,600 crore&nbsp;including interest, according to Reliance Infrastructure&rsquo;s annual report.
Reliance Infrastructure&rsquo;s unit had in 2008 entered into a contract with Delhi Metro for running the country&rsquo;s&nbsp;first private city rail&nbsp;project till 2038. Following disputes over fee and operations in 2012, Ambani&rsquo;s firm stopped operating the capital&rsquo;s airport metro project and initiated an arbitration case against&nbsp;Delhi Metro.

Phones used by industrialist Anil Ambani, former CBI Director Alok Verma, and two other senior officers at the agency &mdash; former special director Rakesh Asthana and former additional director A K Sharma &mdash; were potential targets of surveillance using the Pegasus spyware, according to a report published by The Wire on Thursday.
According to the report, the numbers of Anil Ambani and his employee entered the list in 2018, when a legal challenge had been presented in the Supreme Court about the Indian government&rsquo;s deal with Dassault to purchase the Rafale jets.
Former CBI director Alok Verma&rsquo;s phone number appeared on the list in October 2018, The Wire said, when the CBI was mired in an ugly turf war among officials, and Verma, the Director of the agency, had registered an FIR against his deputy Rakesh Asthana.
The Wire is one of 16 media organisations around the world who are partnering with the French nonprofit Forbidden Stories and human rights group Amnesty International in a global investigative project centred on a database of numbers that may have been targeted with the spyware.

Pegasus snooping row: Anil Ambani, CBI ex-director Alok Verma on list

Pegasus snooping row: phone numbers of&nbsp;Anil Ambani, CBI ex-director Alok Verma on list, according to a report in The Wire

Anil&nbsp;Ambani, ex-CBI director Alok&nbsp;Verma&nbsp;on Pegasus snooping list: The Wire
Report by The Wire says&nbsp;ex-CBI&nbsp;officials&nbsp;Rakesh Asthana&nbsp;A K Sharma&nbsp;on list
Report:&nbsp;numbers of Anil Ambani and his employee entered the list in 2018
SC took up case on govt&rsquo;s deal with Dassault to purchase&nbsp;Rafale jets in 2018
The Wire:&nbsp;ex-CBI director Alok Verma&rsquo;s&nbsp;number entered list in October 2018
In 2018, Verma&nbsp;was caught in a ugly turf war with his deputy Rakesh&nbsp;Asthana

According to The Wire,&nbsp;Anil Ambani's&nbsp;number entered the list in 2018, when a legal challenge was being heard in the Supreme Court about the Centre's&nbsp;deal with Dassault to purchase the Rafale jets.

Phones used by industrialist Anil Ambani, former CBI Director Alok Verma, and two other senior officers at the agency &mdash; former special director Rakesh Asthana and former additional director A K Sharma &mdash; were potential targets of surveillance using the Pegasus spyware, according to a report published by The Wire on Thursday.
According to the report, the numbers of Anil Ambani and his employee entered the list in 2018, when a legal challenge had been presented in the Supreme Court about the Indian government&rsquo;s deal with Dassault to purchase the Rafale jets.
Former CBI director Alok Verma&rsquo;s phone number appeared on the list in October 2018, The Wire said, when the CBI was mired in an ugly turf war among officials, and Verma, the Director of the agency, had registered an FIR against his deputy Rakesh Asthana.
The Wire is one of 16 media organisations around the world who are partnering with the French nonprofit Forbidden Stories and human rights group Amnesty International in a global investigative project centred on a database of numbers that may have been targeted with the spyware.

Tina Ambani wished Shloka Mehta on her 31st birthday with a post on Instagram. She shared throwback photos with Shloka to wish her.

Shloka Ambani's birthday: aunt Tina Ambani pens heartwarming note as she turns 31

Tina Ambani&nbsp;posted on&nbsp;Instagram to wish Shloka Mehta on her 31st birthday. Tina shared throwback pictures to wish Shloka on her special day.

Tina Ambani&nbsp;shares&nbsp;a lovely birthday note for&nbsp;bahu,&nbsp;Shloka
Tina praised Shloka's journey from beautiful girl to a super mommy
Akash Ambani and Shloka Mehta&nbsp;blessed with a baby boy last year

<h2>Tina Ambani wished Shloka Mehta on her 31st birthday with a post on Instagram. She shared throwback photos with Shloka to wish her.</h2>

Tina Ambani&nbsp;posted on&nbsp;Instagram to wish Shloka Mehta on her 31st birthday. Tina shared throwback pictures to wish Shloka on her special day. She shared two pictures, and in one of the photos she can be seen posing with the birthday girl.
&ldquo;A beautiful girl, now a wonderful woman, wife, mother. It's been a joy to see you blossom. Wishing you a year that brings every happiness and new discoveries. Happy birthday,&rdquo; Tina Ambani wrote sharing the photos.
In the picture, Tina is wearing a yellow-coloured saree. On the other hand, Shloka looks gorgeous in a pink&nbsp;jamdani&nbsp;saree.
On December 10, 2020, Akash Ambani and Shloka Mehta had gotten blessed&nbsp;with a baby boy.
&nbsp;

The Congress&rsquo; charges against Modi-govt over the Rafale deal has received fresh ammunition after France launched a judicial probe. What led the French govt to order an investigation? What are the alleged irregularities being cited and is the Supreme Court's Rafale deal verdict an uncontestable finality?

Explained: Rafale deal probe in France and what it means for India

Allegations against Modi-govt&rsquo;s decision making process, pricing of the Rafale planes and choice of Reliance as partner were all taken up by the Supreme Court twice but it found no irregularities both times.

The Congress&rsquo; charges against Modi-govt over the Rafale deal has received fresh ammunition after France launched a judicial probe. What led the French govt to order an investigation? What are the alleged irregularities being cited and is the Supreme Court's Rafale deal verdict an uncontestable finality?

SBI&nbsp;is looking to&nbsp;pull away the fraud tag from Anil&nbsp;Ambani's&nbsp;Reliance Infratel&nbsp;in a bid to push the resolution and sale to Jio&nbsp;forward.&nbsp;
Reports indicated that SBI&nbsp;rushed the affidavit to the courts as Jio&nbsp;moved the bankruptcy court to seek forensic audit reports that had marked the accounts of Infratel and RCom as &ldquo;fraudulent&rdquo;.
Three banks&nbsp;SBI, Union Bank of India and Indian Overseas Bank in October 2020&nbsp;had backed a forensic audit that unearthed questionable transactions worth Rs 5,500 crore in the three Anil Ambani-led Reliance Group entities.The banks however now feel recovery from the account will be hit if the sale of asses to Jio&nbsp;fails and is paving the way for a quicker acquisition.&nbsp;

SBI gives breather to Anil Ambani, fraud tag to be removed from Infratel ahead of Jio deal

SBI&nbsp;is looking to&nbsp;pull away the fraud tag from Anil&nbsp;Ambani's&nbsp;Reliance Infratel&nbsp;in a bid to push the resolution and sale to Jio&nbsp;forward.&nbsp;

SBI gives breather to Anil Ambani, fraud tag to be removed 

SBI&nbsp;is looking to&nbsp;pull away the fraud tag from Anil&nbsp;Ambani's&nbsp;Reliance Infratel&nbsp;in a bid to push the resolution and sale to Jio&nbsp;forward.&nbsp;
Reports indicated that SBI&nbsp;rushed the affidavit to the courts as Jio&nbsp;moved the bankruptcy court to seek forensic audit reports that had marked the accounts of Infratel and RCom as &ldquo;fraudulent&rdquo;.
Three banks&nbsp;SBI, Union Bank of India and Indian Overseas Bank in October 2020&nbsp;had backed a forensic audit that unearthed questionable transactions worth Rs 5,500 crore in the three Anil Ambani-led Reliance Group entities. The banks however now feel recovery from the account will be hit if the sale of assets to Jio&nbsp;fails and is paving the way for a quicker acquisition.&nbsp;

Business tycoon Anil Ambani recently sparked controversy after a video of him taking a walk at a golf course in&nbsp;Mahabaleshwar went viral on social media.
Civic authorities&nbsp;have asked a private club to shut down its golf course and also warned&nbsp;of stringent action if such an incident gets repeated.
Anil Ambani who is in Mahabaleshwar along with his wife Tina and children was seen taking an evening walk at the golf course recently despite the lockdown-like restrictions in the state.&nbsp;
&nbsp;
&nbsp;
&nbsp;

Anil Ambani spotted taking walk, authorities asked to shut golf course

Anil Ambani spotted taking walk, Authorities asked to shut golf course

Club asked to shut golf course after Ambani's&nbsp;walk
Anil&nbsp;Ambani&nbsp;was seen talking a walk despite Covid&nbsp;curbs&nbsp;
Authorities&nbsp;warned of stringent action against the club&nbsp;

Business tycoon Anil Ambani has sparked controversy after a purported video of him taking a walk at a golf course in&nbsp;Mahabaleshwar went viral on social media.
Anil Ambani who is in Mahabaleshwar along with his wife and children was seen taking an evening walk at the golf course despite the lockdown-like restrictions in the state amid raging Covid-19 pandemic.&nbsp;
Civic authorities&nbsp;have asked a private club to shut down its golf course and also warned&nbsp;of stringent action if such an incident is repeated.
&nbsp;

The CBI on Saturday filed an FIR against former Maharashtra home minister Anil Deshmukh over allegations of corruption levelled by ex-Mumbai police commissioner Param Bir Singh. The agency invoked the Prevention of Corruption Act and criminal conspiracy, in filing the FIR and also raided his residence along with three other places in Mumbai in connection with the case.
The former minister was summoned by the CBI for questioning into the matter on April 14 after Param Bir Singh, in a letter to chief minister Uddhav Thackeray, accused him of directing his subordinates to collect money from bars, restaurants and hotels in Mumbai.&nbsp;
The investigation was taken up by the CBI after the Bombay High Court directed the probe on April 5 to conduct a preliminary investigation into the case. On April 8, the Supreme Court ruled that the allegations levelled against the former minister were "serious" and needed probe.

CBI files FIR against ex-Maha minister Anil Deshmukh in corruption case

CBI files an FIR against former Maharashtra&nbsp;Home minister Anil Deshmukh in corruption case

CBI&nbsp;FIR&nbsp;against ex-Maharashtra&nbsp;minister AnilDeshmukh
FIR&nbsp;on allegations of corruption, criminal conspiracy
Allegations levelled by ex-Mumbai police chief&nbsp;Param Bir Singh
CBI also raided Deshmukh's&nbsp;house &amp; 3 other locations
Former minister was summoned by&nbsp;CBI&nbsp;on April 14
Ex-cop alleged minister's&nbsp;subordinates told to collect money
CBI&nbsp;took up probe on April 5, SC agreed allegations&nbsp;'serious'

The CBI on Saturday filed an FIR against former Maharashtra home minister Anil Deshmukh over allegations of corruption levelled by ex-Mumbai police commissioner Param Bir Singh. The agency invoked the Prevention of Corruption Act and criminal conspiracy, in filing the FIR and also raided his residence along with three other places in Mumbai in connection with the case.
The former minister was summoned by the CBI for questioning into the matter on April 14 after Param Bir Singh, in a letter to chief minister Uddhav Thackeray, accused him of directing his subordinates to collect money from bars, restaurants and hotels in Mumbai.&nbsp;
The investigation was taken up by the CBI after the Bombay High Court directed the probe on April 5 to conduct a preliminary investigation into the case. On April 8, the Supreme Court ruled that the allegations levelled against the former minister were "serious" and needed probe.

Market regulator has imposed a fine of Rs 25 cr on the Ambani&nbsp;family for the violation of takeover code regulations in the year 2000. SEBI's&nbsp;order has penalised&nbsp;Mukesh Ambani, Anil Ambani, Kokilaben Ambani, Nita Ambani, Tina Ambani, Reliance Industries Holding, Reliance Realty and others.
The fine is for failure to disclose the acquisition of more than 5% stake in the company in the year 2000, which as per norms would have triggered an open-offer. In January 2000&nbsp;&nbsp;promoter stake in Reliance Industries increased by 6.83% after conversion of 3 crore warrants issued in 1994.
The penalty of Rs 25 crore will have to be jointly paid by the 34 individuals and entities who were allotted the warrants in the year 1994.&nbsp;

SEBI imposes ₹25 cr fine on Ambani family for violation of takeover norm 

Market regulator has imposed a fine of Rs 25 cr on the Ambani&nbsp;family for the violation of takeover code regulations in the year 2000. SEBI's&nbsp;order has penalised&nbsp;Mukesh Ambani, Anil Ambani, Kokilaben Ambani, Nita Ambani, Tina Ambani, Reliance Industries Holding, Reliance Realty and others. 
The fine is for failure to disclose the acquisition of more than 5% stake in the company in the year 2000, which as per norms would have triggered an open-offer. In January 2000&nbsp;&nbsp;promoter stake in Reliance Industries increased by 6.83% after conversion of 3 crore warrants issued in 1994.
The penalty of Rs 25 crore will have to be jointly paid by the 34 individuals and entities who were allotted the warrants in the year 1994.&nbsp;

<ul>
<li>SEBI&nbsp;imposes ₹25 cr penalty on Ambani&nbsp;family&nbsp;</li>
<li>RIL&nbsp;promoters to pay fine for violation of takeover code</li>
<li>SEBI: RIL&nbsp;promoters failed to disclose hike in promoter stake in January 2000</li>
<li>RIL&nbsp;promoter stake hike in 2000 should have led to open-offer&nbsp;</li>
<li>Penality of ₹25 cr to be paid jointly by 34 entities including Mukesh&nbsp;and Anil&nbsp;Ambani</li>
</ul>

Market regulator has imposed a fine of ₹25 cr on the Ambani&nbsp;family for the violation of takeover code regulations in the year 2000. SEBI's&nbsp;order has penalised&nbsp;Mukesh Ambani, Anil Ambani, Kokilaben Ambani, Nita Ambani, Tina Ambani, Reliance Industries Holding, Reliance Realty and others. 
The fine is for failure to disclose the acquisition of more than 5% stake in the company in the year 2000, which as per norms would have triggered an open-offer. In January 2000&nbsp;&nbsp;promoter stake in Reliance Industries increased by 6.83% after conversion of 3 crore warrants issued in 1994.
The penalty of ₹25 crore will have to be jointly paid by the 34 individuals and entities who were allotted the warrants in the year 1994.&nbsp;

anil ambani

Categories