Promoters of International Recreation and Amusement Ltd have been accused of fraudulently raising Rs 400 crore from 1,500 investors, and using the funds for personal gains.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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