Anil Ambani group to invest Rs.105 bn in Gujarat

October 12th, 2009 MUMBAI - The shares of companies in the respective stables of the two feuding Ambani brothers closed higher Monday, a day after an olive branch from younger Anil, that was welcomed as a "positive indicator" by Mukesh. Reliance Natural Resources, the energy arm of Anil Ambani group that is fighting a legal battle on gas supplies with the Mukesh-led group, shut shop at Rs.87.40 with a gain of 5.3 percent from Friday's closing figure.

October 12th, 2009 MUMBAI - The shares of companies in the respective stables of the two feuding Ambani brothers opened on a higher note Monday, a day after the olive branch from younger Anil, that was welcomed as a "positive indicator" by Mukesh. Reliance Natural Resources, the energy arm of Anil Ambani group that is fighting a legal battle on gas supplies with the Mukesh-led group, was ruling at Rs.86.35 with a gain of 4.04 percent, an hour into trading, after touching a high of Rs.87.15.

October 11th, 2009 NEW DELHI - Industrialist Anil Dhirubhai Ambani on Sunday expressed his desire to reconcile with elder brother after paying a visit to the pilgrimage centres of Kedarnath and Badrinath. Reaching out to his brother Mukesh Dhirubhai Ambani, Anil said that he hoped his feelings would be reciprocated and the wounds of his brother would be healed.

October 9th, 2009 NEW DELHI - The Central Bureau of Investigation (CBI) Friday began its probe into the allegations against the Director General of Hydrocarbons, V.K. Sibal, that he took favours from Mukesh Ambani-led Reliance Industries.

October 9th, 2009 NEW DELHI - The Anil Dhirubhai Ambani Group has agreed to pay under protest a marketing margin to Reliance Industries for the gas supplied from the Krishna-Godavari basin, over and above the price formulae of the government. In a letter to the oil ministry, the group has queried if the Mukesh Ambani-led Reliance Industries was entitled to charge the margin, as neither the company has undertaken such an exercise nor has the government's price formulae enabled such a provision.

September 22nd, 2009 MUMBAI - Telecommunications provider Reliance Infratel, promoted by Reliance Communications and part of the R-ADA group, will come out with an initial public offer to the tune of 10 percent of its paid-up equity capital, group chairman Anil Ambani said here Tuesday. Addressing shareholders at Reliance Communication's annual general meeting here, Ambani said the draft red herring prospectus for the issue would be filed by group company Reliance Power with market regulator Securities and Exchange Board of India.

August 16th, 2009 THRISSUR - As the wrangle over the energy deal continues between Ambani brothers, younger brother Anil Ambani has opted to go on a religious tour of South India. Anil and his mother Kokilaben visited Kerala's famous Guruvayoor Temple on Saturday.

August 12th, 2009 NEW DELHI - A day after Reliance Anil Dhirubhai Ambani Group accused the petroleum ministry of misguiding the Prime Minister's Office (PMO), oil minister Murli Deora met Prime Minister Manmohan Singh Wednesday to apprise him of his ministry's stance on the subject. In the 30-minute meeting, Deora once again explained his ministry's position that the government had the right to determine the price and use of natural gas as it deemed fit, a senior official in the oil ministry said.

August 7th, 2009 MUMBAI - Mukesh Ambani-led Reliance Industries Limited (RIL) on Friday broke its silence over the controversy on sharing gas from the Krishna-Godavari basin, and alleged the Anil Dhirubhai Ambani Group (ADAG) of unleashing a 'malicious campaign' against RIL. In a statement to the media, RIL dismissed Anil Ambani's statements as "baseless" and claimed that Anil is carrying out an orchestrated campaign to prejudge a legal dispute.

May 4th, 2009 NEW DELHI - Two employees of the aircraft maintenance firm Air Works India Engineering Pvt. Ltd., suspected to be involved in the Anil Ambani's helicopter sabotage case were arrested on Monday.

April 29th, 2009 MUMBAI - The Maharashtra Police and family of a dead Anil Ambani Group technician traded charges with each other on Wednesday over the way the latter had died. Bharat Borge was found dead on the railway track last evening between Vile Parle and Andheri suburban stations.

April 23rd, 2009 MUMBAI - Industrialist Anil Ambani Thursday evening filed a complaint alleging his helicopter had been sabotaged, police said. According to police officials, Ambani said his Bell 412 seven-seater helicopter was 'sabotaged'.

January 18th, 2009 MUMBAI - The Anil Ambani group Monday told the Bombay High Court that allowing Reliance Industries to charge a higher tariff for gas from the Krishna-Godavari basin would mean a Rs.250-billion scam. The group, which is fighting a bitter legal battle with the Mukesh Ambani-led Reliance Industries over gas from the fields off the Andhra Pradesh coast, said state-run utility NTPC must not be asked to pay more than the agreed price of $2.34 per unit.

January 15th, 2009 MUMBAI - The Bombay High Court is expected to decide next week whether Mukesh Ambani-led Reliance Industries can assume sale of natural gas from the Krishna-Godavari basin, off the Andhra Pradesh coast. The court had imposed a stay on the sale of natural gas from the fields after two cases were filed against Reliance Industries over the sale price and qualtity of fuel - one by the Anil Ambani Group and the other by state-run power utility National Thermal Power Corporation (NTPC).

January 12th, 2009 AHMEDABAD - The Reliance Anil Dhirubhai Ambani Group (ADAG) Tuesday signed three memorandums of understanding (MoUs) worth Rs.105 billion (Rs.10,500 crore or $2.13 billion) for its proposed projects in Gujarat. Group chairman Anil Ambani said the investments would be made for building a port jetty in Saurashtra, a power plant and three cement factories.