Tag: Mukesh Ambani

  • Jaish-ul-Hind claims responsibility for placing explosives-laden SUV near Ambani’s house

    By PTI
    MUMBAI: An organisation named Jaish-ul- Hind has claimed the responsibility of placing an explosives-laden SUV near industrialist Mukesh Ambani’s house in south Mumbai, police said on Sunday.

    A senior police official said that all possible angles were being investigated in this connection.

    The outfit claimed the responsibility by posting a message on social messaging app Telegram, which went viral on social media and came to the notice of Mumbai police, the official said.

    A Scorpio with gelatin sticks was found parked on Carmichael Road near ‘Antilia’, the multi-storey residence of Ambani, chairman of Reliance Industries, on Thursday evening.

    The registration number on the vehicle’s number plate was the same as that of an SUV in Ambani’s security detail, police had said.

  • Mukesh Ambani, Reliance Industries fined Rs 40 crore for allegedly manipulating Reliance Petroleum shares

    Regulator Sebi on Friday imposed penalties on Mukesh Ambani, Reliance Industries fined for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007.

    Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore.

    In a 95-page order, Sebi”s Adjudicating Officer B J Dilip said any manipulation in the volume or price of securities always erodes investor confidence in the market when investors find themselves at the receiving end of market manipulators.

    On March 24, 2017, Sebi had ordered RIL and certain other entities to disgorge over Rs 447 crore in the RPL case. In November 2020, the Securities Appellate Tribunal (SAT) dismissed the company”s appeal against the order.

    At that time, RIL had said it would challenge the tribunal”s order in the Supreme Court.

  • Modi meets foreign investors today as India looks to attract investments for infrastructure

    Prime Minister Narendra Modi will woo the world’s 20 largest pension and sovereign wealth funds at a virtual round table Thursday as India looks to attract investments for its ambitious Rs 111 lakh crore infrastructure investment pipeline for the next five years.

    The Modi government’s efforts to attract foreign investments into the infrastructure space comes at a time when around half of the proposed infrastructure investments by 2025 will have to come from private and foreign investors.

    To attract these funds to invest in India, it has already announced tax exemptions in this year’s budget to these long-term funds investing in infrastructure, making their income exempt from long-term capital gains, interest and dividend tax.

    The call for investment

    The virtual global investor roundtable, organised by the Ministry of Finance and the National Investment and Infrastructure Fund, will be attended by global investors who represent regions like the US, Europe, Canada, Korea, Japan, Middle East, Australia and Singapore, and have an asset under management of $6 trillion, the Prime Minister’s Office said in a statement.

    The roundtable will also be attended by Indian business leaders like Mukesh Ambani, Ratan Tata, Deepak Parekh, Nandan Nilekani and Uday Kotak, and Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Shaktikanta Das.

    It will be followed by individual meetings of the investors with the PM over the next couple of weeks.

    Repeated efforts

    This is not the government’s first attempt to woo foreign investors.

    Just ahead of PM Modi’s visit to the US last year, his government had announced a massive reduction in corporate tax rates to make India competitive vis-a-vis other Southeast Asian economies. The rates were brought down to as low as 15 per cent (effective tax rate of around 17 per cent) for new companies in the manufacturing sector.

  • Airtel’s Rs 399 postpaid plan comes back to compete with Jio, know the benefits

    Mukesh Ambani-owned company Jio recently launched some new postpaid plans. In such a situation, Airtel has introduced its 399 rupees postpaid plan to compete with Jio. Earlier this plan was available in select telecom circles, but now it has been made available across the country. Under Airtel’s Rs 399 postpaid plan, customers will get 40GB data, unlimited calling and 100SMS daily. Also, in this plan, the company is also offering Airtel Extreme Premium subscription, Wink Music subscription for one year and Shaw Academy. Apart from these benefits, customers will also get cash back on free halo tunes and FASTag transactions.

  • PM Modi to inaugurate global AI summit RAISE 2020 today

    Prime Minister Narendra Modi will inaugurate the five-day Global Virtual Summit on Artificial Intelligence (AI) today. The Government’s ‘Responsible Artificial Intelligence for Social Empowerment’ or RAISE 2020 is being organized in partnership with industry and education. Its goal will be to transform the health, education and agriculture sectors.

    In June, India joined hands with Australia, the United States, the United Kingdom, Canada, France, Germany, New Zealand and others to form a ‘Global Partnership on Artificial Intelligence’ (GPAI) for responsible development and use of AI. . 
    NITI Aayog CEO Amitabh Kant said in a press conference that we are confident that AI will be helpful in changing lives. For social empowerment, India is preparing AI based measures in health, education, finance, farming and governance. 

    He said, with the strength of his data and innovation skills, India can become the world’s AI laboratory. India can provide intuitive solutions to a wide range of social issues. 

    Prime Minister Narendra Modi will deliver keynote speeches along with Electronics and IT Minister Ravi Shankar Prasad, NITI Aayog Chief Executive Officer (CEO) Amitabh Kant, Reliance Industries Limited Chairman and Managing Director Mukesh Ambani and IBM CEO Arvind Krishna.
    RAISE 2020 will be organized to exchange ideas and complete a syllabus for using AI for social empowerment, inclusion and change in key areas like healthcare, agriculture, education and smart mobility in other areas. Used to be.
    The summit will call for global participation from key opinion makers, academics and government representatives.
    The summit aims to encourage discussion on AI in public infrastructure, building social responsibility for social empowerment, change, and inclusion of society.
    So far, more than 38,700 stakeholders of academics, representatives of research industries and governments from 125 countries have registered for the summit.
    Industry analysts predict that the summit will add more than $ 957 billion to India’s economy by 2035.