Lease was given in 2009 for a period of 30 years. Govt is also thinking of paying off dues on condition that Ambani's firm pay back so that the airports can be restarted, he adds.
The probe pertains to the alleged possession of undisclosed assets abroad and the linked movement of funds. Anil Ambani is expected to reappear before the ED later this week.
SEBI in February had issued a retraining order on founder Ambani and other top executives of a group entity, Reliance Home Finance, for allegedly diverting funds to repay debt.
Reliance Capital joins a long list of Indian shadow banks that have keeled over since the sudden collapse of infrastructure financier IL&FS Group in September 2018.
The Reliance empire was plunged into uncertainty in 2002 when Dhirubhai Ambani died without a will, subsequently sparking a years-long battle for control between brothers Mukesh and Anil.
Like China, India remains a big domestic market, which will continue to attract investment, but the US tariffs will make India unattractive for future investments.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
India’s 1st tri-service seminar, on the lines of Shangri-La Dialogue, kicks off in Mhow, with top military officers & defence attaches from several countries in attendance.
Putin sees this as a victory. Europeans have decided to deal with Trump on his terms for the sake of the larger Western alliance. We look at the lessons for us in India.
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