Tag: mukeshambani

Reliance Industries Ltd on Friday reported its highest-ever quarterly consolidated net profit of Rs 11,640 crore or $1.6 billion for the quarter ended December 31, 2019, rising by 13.5 per cent on a year-on-year basis.

After 2 years of continuous planning Reliance Industries Ltd through its retail segment Reliance Retail Ltd is all set to challenge the global e-commerce giants Amazon and Walmart with its new eCommerce venture. The announcement got aired after the company started sending the invites to its Jio users to get registered on a new venture named ‘JioMart’ and get discounts on Monday.

The Indian tycoon Mukesh Ambani saw his wealth surge $18 billion in 2019 taking his net worth reaching $61 billion. This massive increase has...

The Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China (Chinese Banks) have dragged Asia’s Richest man brother, Anil Dhirubhai Ambani to London court for his default of not paying back the loan amount of $680 million. ICBC lawyer told the court that $925.2 million loans were given to Reliance Communications Ltd which, Anil Ambani’s firm in the year 2012 on the condition that he will provide a personal guarantee. He added the firm made some payments, however, in 2017 they defaulted if paying the money. However, Anil, on the contrary, said that though he has agreed for a non-binding “personal comfort letter,” but he never guaranteed to ties his assets which is an “extraordinary potential personal liability.”