New Delhi: The Indian government is trying to stop Reliance Industries Ltd. from paring its assets including a plan to sell a 20% stake to Saudi Aramco, the Times of India reported.
The demand was made in an ongoing court case against Reliance Industries and British Gas, the paper said. The government has sought to prevent the two companies from selling their assets, and honoring a $4.5 billion international arbitration award in a production-sharing dispute over the Panna-Mukta and Tapti fields, it said.
India has asked Reliance directors to file an affidavit disclosing the company’s assets. The Delhi High Court will next hear the case on Feb. 6, the report said.
The government affidavit states that Reliance is “in a massive group debt of 2.88 trillion rupees” ($40.5 billion), and that there would be nothing left for the government to execute its award if it sold assets, the report said.
Also read: RBI’s very own ‘Operation Twist’ and the implications of the move
Meri har party say request h jo bhi bole soch kar bole india k khilap n bole. India ek aisa des h jo sabko sath leker chalta h.
Now at least we know why Telecom industry has been trashed so that JIO can get into profit fast and balance some of the debts.
All that glitters is not gold.
किसी समझदार ने सही कहा है कि “हर चमकदार चीज सोना (gold) नहीं होती”। All that glitters is not gold.
Indian businesses must not be a gateway for backdoor entry of foreign money. Indian public must have first chance to handhold.
Bizarre.
Appears to be a desperate act by Govt to balance Budget, forcefully take away from anyone and everyone. Why would investors, domestic and foreign, invest under such a regime? Or is it just optics to tell the people that Reliance is not being favoured by Govt?
Please be with Modiji and save my mother land….
*Some are beyond the rule of law because they are the ones who control those in power.
* Those who can read the economic indicators well understand what’s going on & how will it finally end.
* Reliance is responsible for the bubble in the share price fuelled with the help of the vested interests.
* Retail investors will be the ultimate losers because the leftover business of Reliance will be devoid of value after retail & telecom businesses are listed separately.
* No analyst including the institutional ones talks about it though everyone knows that for sure but then share market is the game of finding the greater fools.
* 13 Trillion dollars at negative rate of interest is not sustainable. It will be the biggest disruptor, only when is the question, which will be answered in future.
* Why no analyst dares to speak the truth even after 10 stocks being managed through SIP funds to push the market to new heights. SEBI remains meek spectator.
* Banks have reduced deposit rates whereas lending rates stay high this indulging in daylight robbery- the recovery of NPAs from millennials is in full swing. RBI remains meek spectator.
Why is Mukesh Ambani considered the Richest Asian when his Wealth is USD 54 Billion & his Total Debt is USD 40.5 Billion.
He is Actually worth USD 14 Billion as per Govt Debt.
Now there could be more Debt which we don’t know.
God bless our Credit / Debit Private & Govt givers & undertakers.
Amen
His assets should be barred from selling , otherwise we should close down all our public sector has to be closed down for the these people taken loans
Correct bro.
His assets should be barred from selling , otherwise we should close down all our public sector has to be closed down
Reliance Ujjval yojana 2019
Write about the debt of Mahindra & mahindra group.
Jab
CAA (Cow Attrocities Act) is not against Muslims, it’s against Cow Eaters to deny them Citizenship based on Food Habbits of eating cow.
Chup be salle
India is the only country where human lives are second to animals.
1000s of people are die because of strays.
Religious Ingots decide lives of millions
Pisslamist spotted
More than muslims, you guys have started eating cows and buffaloes now a days. That’s why all your ladies want cow eaters now a days.
If law against Cow eater than why not Cow exporter and all cow are Big exporter from Hindu high society.
N here comes a BLINDED-BHAKT
Christians, brahmins, jain, marwadi, hindus sc st all eat cow so what. I have many friends who eat cow beef so what , go check yourself
High court , paper side sealing ,report not Ready out, out, out, out, out Reliance court not paper side if it
High court paper side sealing report not Ready
One who has the highest debt is considered to be the richest .
Ril share price rallied and rallied now it will be dumped
Mumbai is a economic capital of India
It is a secular in behaviour,we can see it’s secular behaviour even before independence.
Bal Gangadhar Tilaks case was fought by Mahamadali Jinnah.Tilak was also a barrister,he choose Jinnah as a loyer to fight his Mandate case’.Thought the case was lost it was not Jinnah’s failure, it’s because of British rule.
WHAT ABOUT RECOVERING PENALTY FOR NOT MEETING PRODUCTION TARGETS IN D6?WHAT HAPPENED TO ENCASHMENT OF THE BANK GUARANTEE THAT WAS OBTAINED BY THE UPA-II? WHY THERE SOMUCH PROCRASTINATION IN RECOVERING PENALTY FROM THE RELIANCE ON ACCOUNT OF SHORT FALL IN PRODUCTION FROM D6?