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Anil Ambani thanks Mukesh, Nita for timely support in clearing RCom dues

NEW DELHI Billionaire Anil Ambani Monday thanked his brother Mukesh and his wife Nita for extending “timely support” after his debt-laden firm Reliance Communication cleared payments due to a service provider just a day before expiry of deadline set by the Supreme Court. “My sincere and heartfelt thanks to my respected elder brother, Mukesh and Nita, for standing by me during …

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Anil Ambani avoids jail as RCom pays Rs 4.6 billion owed to Ericsson

NEW DELHI Ericsson has received 4.62 billion rupees ($67.42 million) from Indian telecoms firm Reliance Communications Ltd (RCom), the Swedish company said on Monday, potentially saving billionaire Anil Ambani and two RCom directors from a jail term. Late last month, India’s top court found Anil Ambani, chairman of the debt-laden …

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J&K Bank to sell stake in PNB Metlife for Rs 185 crore

NEW DELHI Jammu and Kashmir Bank Sunday said it proposes to sell its stake in PNB Metlife India to private equity player Oman India Joint Investment Fund II for Rs 185 crore. The bank has executed share purchase agreement with Oman India Joint Investment Fund II for sale of 4.1 crore shares of PNB MetLife India Insurance Company Ltd, Jammu and Kashmir Bank said in a regulatory …

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After Jio, Mukesh Ambani bets big on Internet, video streaming market

MUMBAI Reliance Industries Chairman and Managing Director Mukesh Ambani who has disrupted the mobile telephony market with Reliance Jio, is set to take on Internet and video streaming giants like Google, Netflix, Amazon Prime and Spotify. According to an article in the winter 2019 issue of Foreign Policy magazine, “the second stage of Ambani’s plan is more ambitious” after creating a mega …

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Finance department issues J&K GST (Removal of Difficulties) order for e-returns

SRINAGAR The finance department has issued a Jammu and Kashmir Goods and Services Tax (Removal of Difficulties) order with regard to GST and furnishing of annual returns electronically. “Whereas, in terms of sub-section (1) of section 44 of the Jammu and Kashmir Goods and Service Tax Act, 2017(Act No. V …

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Mukesh Ambani in top Global Thinkers list of Foreign Policy

NEW DELHI Richest Indian Mukesh Ambani has featured in the top Global Thinkers 2019 ranking of the prestigious Foreign Policy publication alongside the likes of Alibaba founder Jack Ma, Amazon CEO Jeff Bezos and IMF head Christine Lagarde. The publication on its website released a few of the names in the 2019 list of 100 Thinkers, saying the full list would …

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