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Yes Bank: Anil Ambani appears before ED in Mumbai

Reliance Group Chairman Anil Ambani appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said.

Yes Bank: ED summons Anil Ambani on March 19

According to officials, Anil Ambani has been asked to depose at ED's office in Mumbai on Monday as his group companies are one among the big entities whose loans went bad after borrowing from the crisis-hit bank. Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPA.

Many promoters lose pledged shares after market mayhem

Promoters of more than 50 cos were able to provide top-up in terms of additional securities.

Essel group chief Subhash Chandra joins Yes Bank probe

Chandra had earlier cited his Rajya Sabha commitment for not appearing on Wednesday following which the federal agency issued a fresh summon and asked him to join the investigation on Saturday. According to sources, Chandra reached the agency’s Ballard Pier office at 11am and is expected to be questioned till evening.

CBI asks Yes Bank administrator to assess amount of total fraud by corp borrowers

The Central Bureau of Investigation (CBI) has advised the administrator appointed by the Reserve Bank of India to assess the total alleged fraud caused by various corporate borrowers to the Yes Bank so that it can probe the books of all the stressed borrowers together.

Subhash Chandra appears before ED in Yes Bank case; Naresh Goyal in another probe

Goyal was first summoned by the central probe agency on March 18 but he cited the reason of tending to an ill relative for skipping the summons. He was given a fresh time and deposed Saturday, they said.

Yes Bank founder Rana Kapoor sent to judicial custody

The former MD and CEO of the private lender was arrested by the ED here on March 8 under provisions of the PMLA (Prevention of Money Laundering Act) as he was allegedly not cooperating in the probe related to the crisis at Yes Bank which has been placed under moratorium by the RBI.

CBI asks YES Bank administrator to assess amount of alleged fraud by borrowers

YES bank has ruled out a forensic audit of its accounts and stressed that it was aware of the hole in its books.

Yes Bank: Those summoned by ED seek more time to join probe

Jet Airways promoter Naresh Goyal excused himself saying he had to attend to an ailing relative, according to the people, and ADAG chairman Anil Ambani said “prior commitments” prevented him from appearing on Monday.

Anil Ambani fully involved in company operations, says UK Court

“It is clear that Ambani is not a titular chairman and is involved in running the company," a UK Court said.

One-time billionaire Anil Ambani says he's now worth nothing

"The value of my investments has collapsed. I don't hold assets which can be liquidated,” Ambani said.

Ex-billionaire Anil Ambani pleads poverty in $680 million loan fight

Anil Ambani has seen his fortune dwindle over recent years, losing his billionaire status.

Zee Group says all loan from Yes Bank fully secured as ED summons Subhash Chandra on March 18

The statement further claimed that "the Zee group has never made any transactions with Rana Kapoor (Yes Bank co-founder and the past MD who is now in ED custody) or his family or for that matter any private entities controlled by them and that "all credit facilities availed were fully secured".

Reliance Group said its entire debt from Yes Bank is secured; committed to repay

Reliance Group along side Subhash Chandra's Essel Group were among the large borrowers that Finance Minister Nirmala Sitharaman had named after Yes Bank's board was superseded by the Reserve Bank of India (RBI) and withdrawal restrictions placed.

Anil Ambani’s sons exit board of troubled-Reliance Infrastructure

A company disclosure to bourses said that the brothers ceased to be on the board from January 31, but did not reveal any reason or if they will play any active role in the company. Shares of the company declined 5% on the BSE on Monday, to Rs 19.85. A company spokesperson declined to comment on the reason behind the exit, stating, “the management has not shared any reason with us.”

Yes Bank: ED summons top corporate honchos for questioning this week

DHFL CMD Kapil Wadhawan, recently arrested by the ED in another case, has also been called for questioning apart from Reliance Group Chairman Anil Ambani who has been called on March 19 at the Enforcement Directorate office in Mumbai, they said.

Anil Ambani to pay $100 mn in conditional order for Chinese banks: UK court

The lawsuit was filed by Chinese banks which argue that they provided a loan of $925 mn to RCom.

Anil Ambani was a wealthy businessman, now he is not: UK court told

The lawsuit was filed by Chinese banks which argue that they provided a loan of $925 mn to RCom.

ADAG says no exposure to Rana Kapoor, family

ADAG further said its entire exposure to YES Bank is fully secured.

Yard sales! Market rout may force Indian tycoons to sell their crown jewels

The S&P BSE Sensex Index has declined 15% since setting a record high in January.

All or nothing? It's Hobson's choice for Anil Ambani's lenders

The bids have offered very little upfront cash or are unworkable in the current form, said bankers.

RBI to look into what went wrong at Yes Bank: Sitharaman

The bank was being monitored since 2017 and developments relating to it were being monitored on a day-to-day basis, she said at a press conference. Since 2017, the central bank noticed governance issues and weak regulatory compliance at Yes Bank, besides wrong asset classification and risky credit decisions, she said.

View: The $680 million question of what Anil Ambani knew

Ambani will get his day in an English court to prove his lack of awareness. The bar is high, though.

Reliance Communications files resolution plan with NCLT

“RCom in accordance with the stipulations contained in Regulation 30 of the SEBI ....hereby informs ...that resolution professional of RCom has duly filed the resolution plan as approved by the CoC with the... NCLT, Mumbai Bench on March 6, 2020 in accordance with Section 30(6) of the Insolvency and Bankruptcy Code, 2016,” said the company.

Anil Ambani quits as chairman of bankrupt Reliance Communications

The development follows RCom's consolidated loss of Rs 30,142 crore for the second quarter, released on Friday.

Reliance Communications lenders reject resignation of Anil Ambani, 4 other directors

RCom's September quarter numbers marked the second highest loss posted by any Indian corporate till date.

Reliance Infra shares rise 10% on strong results

RInfra reported 18% rise in its consolidated net profit to Rs 345.51 for Q3.

Stocks in the news: YES Bank, Adani Ports, Lakshmi Vilas Bank and TCS

The committee of creditors (CoC) of grounded Jet Airways will meet on March 12.

Anil Ambani’s evidence in case filed by Chinese banks incomplete: UK HC

Three Chinese lenders had taken RCom chairman to court for allegedly failing to clear $680m dues

Covid-19 paints a depressing picture for film industry

ET has learnt from interactions with big producers and trade analysts that the losses because of postponing of release of the films or shooting of under-production films could be in the range of Rs 200-250 crore for the next two-three months.

Anil Ambani dragged to court for $680 million unpaid loan

Three banks agreed to loan Ambani’s RCom money in 2012, which he has since defaulted on.

Creditors swoop on Indian tycoons’ Rolls Royce, island mansion

The moves come as India is battling $130 bn of bad debt that has sparked bankruptcies at some companies.

Biggest rescue of Indian bank will deepen lenders’ funding woes

The dramatic actions are intended to avoid a collapse of India’s fourth-largest private bank.

Anil Ambani stock a multibagger! Scrip zooms 600% in a dream run since Sept 9

That’s the longest winning streak since the company’s trading debut in 2009.

Indiabulls up after probe finds no big offences

It also found that loans it had been probing have all been repaid.

Rana Kapoor: A veteran banker who never said no to risky loans

Rising profits boosted the share price with Kapoor’s holding turning him into a billionaire.

Anil Ambani quits as Reliance Communications director a day after dismal Q2 numbers

Anil Ambani has resigned as director of Reliance Communications, the debt-ridden company said in a filing on Saturday. According to the filing, Ambani along with Chhaya Virani, Ryna Karani, Manjari Kacker, Suresh Rangachar have resigned as directors of RCom. "Your good office may also note that Shri Manikantan V., has also tendered his resignation as a director and Chief Financial Officer of the Company earlier. The aforementioned resignations shall be put up to the committee of creditors of the Company for their consideration," the filing added.Anil Ambani quits as Reliance Communications director a day after dismal Q2 numbers

IndusInd to further reduce exposure to Anil Ambani's embattled Reliance group

The private sector lender said that it had a combined exposure to three debt-laden companies: Zee, DHFL and Anil Ambani led Reliance of about Rs.2100 crore or 1.1 percent of the loan book.

UVARC, RJio preferred bidders for RCom

"The committee of creditors has approved the resolution plans of RCOM and its subsidiaries RTL and RITL with an absolute majority of 100 per cent by the lenders at the COC meeting, as against the mandatory requirement of 66%," the source said.Lenders submitted claims of around Rs 49,000 cr in August of which Rs 33,000 cr estimated to be secured debt.

In a first, Anil Ambani threatened with class action suit at AGM

At the AGM, a shareholder threatened to file class action suit against the group companies.

Reliance Infrastructure to cut debt further, to be capital-light: Anil Ambani

Addressing the shareholders at the AGM, chairman Anil Ambani also said the group's defence businesses will also follow an asset- and capital-light model.

Anil Ambani faces investors again with vow to cut debt

Anil Ambani's Reliance Group is planning to pay creditors Rs 150 billion more by March.

Reliance Capital will no longer be in any lending business: Anil Ambani

Ambani said his NBFC suffered collateral damage due to a combination of factors.

Reliance Infra Q3 profit up 18% at Rs 346 crore

Reliance Infra's total expenses increased to Rs 4,888.79 crore, as against Rs 4,772.46 crore a year ago.

Square Yards acquires rental & property management firm Azuro

Anil Ambani-led Reliance Group's private equity arm had invested $12 million in Square Yards in November 2016.

Farm loan waivers add Rs 60,762 crore to state-run banks’ bad loans in Q3

New stress emerges in agriculture, MSME, commercial vehicle, telecom and realty

Farm loan waivers add Rs 60,762 crore to state-run banks' bad loans in Q3

New stress emerges in agriculture, MSME, commercial vehicle, telecom and realty.

Anil Ambani ends talks with Hero FinCorp on insurer sale

The talks for selling Reliance General Insurance ended after Hero FinCorp struggled to raise funds.

Anil Ambani's shipyard risks insolvency as banks spurn debt plan

Any court ruling favouring the banks would deal another blow to the tycoon’s stressed empire.

Reliance Power drops 3% as YES Bank sells shares in bulk deal

The stock is one of the biggest wealth destroyers in the last one year, down 93 per cent.

Reliance Infra appoints Anil Ambani’s sons Anshul and Anmol Ambani as directors

Both Anmol and Anshul have been actively involved in all operations of RInfra.

Adani Transmission sells 25.1 per cent stake in arm AEML to QIA for Rs 3,220 crore

The total QIA investment in AEML is approximately Rs 3,220 crore, which includes equity consideration of approximately Rs 1,210 crore and shareholder subordinated debt of approximately Rs 2,010 crore. Shares of Adani Transmission were trading at Rs 333.95 apiece on BSE, up 0.6 per cent from previous close.

Government issues show-cause notice to Reliance Naval after encashing all bank guarantees in patrol vessel contract

In fresh punitive action against the Anil Ambani-promoted Reliance Naval and Engineering Limited (R-Naval) for its failure to deliver five naval offshore patrol vessels (NOPVs) under a Rs 2,500 crore deal, the government has issued a show-cause notice to the debt-ridden company and encashed all its different bank guarantees worth around Rs 980 crore.

Anil Ambani gets class action suit threat, but also support from shareholders

The AGMs of five of the Reliance Group companies were held back-to-back on Monday.

Anil Ambani assures AGM as Reliance Group scrips tumble to year’s low

Says over Rs 60,000 cr receivables are stuck in regulatory and arbitration matters.

Adani Transmission says financing deals to bring down interest costs

The company said it was the largest single tranche issuance by an Adani Group company.

Anil Ambani may be out of billionaire club

Interestingly, in 2008 when Anil was ranked sixth among the world’s richest, Mukesh, with a net worth of $43 billion, was at the fifth position.

Adani in early talks to acquire Reliance Power's troubled unit

The talks between billionaire Gautam Adani-led group and Anil Ambani-led Reliance Power are at an early stage, the persons cited earlier told ET.

NCLAT dismisses contempt plea against Anil Ambani, others

HSBC Daisy and others had moved a contempt plea in the appellate tribunal, alleging that Reliance Infratel had not paid up about Rs 230 crore as mandated by the NCLAT.

Mamata Banerjee, PM Modi tweet for Shabana Azmi's well-being; Anil Kapoor, Tabu visit her in hospital

The actress is reportedly undergoing treatment​.

Anil Ambani’s Reliance Naval facing cash crunch amid debt revamp

Reliance Naval said it is facing an acute cash-flow crunch after orders dried up amid efforts to restructure debt.

Gasping NBFCs need urgent help: Anil Ambani

Reliance Group chief expects new govt and RBI to provide support in the form of immediate liquidity window.

Yes Bank invokes pledged shares to acquire 30% in Reliance Power's UP unit

Yes Bank has acquired 30% in Reliance Power's subsidiary Rosa Power Supply Company upon invocation of pledged shares, the bank informed bourses late on Tuesday.

The downslide, the takeover and what's next? What's in store for YES Bank now

YES Bank has been in talks with investors over the past year, but failed to come up with a plan.

NCLAT reserves order on contempt plea against Anil Ambani

Reliance Infratel, against which also the contempt petition has been filed, is part of RCom.

Anil Ambani seeks to sell or lease out Mumbai HQ

The 700,000 sq ft Reliance Centre in Santacruz could fetch as much as Rs 1,500-2,000 crore.

Pushed to the brink, what next? Vodafone Idea’s options dwindle

British partner, Vodafone Group Plc, has completely written off the value of its 45% holdings in the venture and signaled it isn’t keen to invest more. In December, Chairman Kumar Mangalam Birla warned of a potential collapse in the absence of any relief over the payment. A collapse of Vodafone Idea would make it the third bankruptcy of a local mobile carrier in two years following Aircel and RCom.

RInfra’s sale of Delhi-Agra toll road receives NHAI approval

Reliance Infrastructure will use 100 per cent of the proceeds from the sale to pay lenders .

Chinese banks demand $2.1 billion from Anil Ambani's RCom

​State-owned China Development Bank was the biggest creditor to the indebted telecom firm.

RCom's committee of creditors to meet on Wednesday

Reliance Communications' committee of creditors (CoC) will hold a meeting on Wednesday, the company said in a regulatory filing on Tuesday.

Two held for doctoring SC order on Anil Ambani

While the SC had on Jan 7 this year directed Ambani to appear in the contempt case filed by Ericsson, the order that was uploaded on the court’s website stated that he was not required to show up.

The slogan I'm pushing across the group is 'death of debt': Anil Ambani

Anil Ambani talks about his plans of monetising assets to reduce debt and his focus on capital-light businesses.

Ericsson asks NCLT to dismiss RCom’s Rs 550-crore refund plea

The telecom equipment maker has asked the tribunal to dismiss RCom’s plea with “exemplary costs”.

Anil Ambani said to have found a new buyer for Big FM

Jagran Prakashan-owned Music Broadcast is set to acquire Big FM for close to Rs 1,200 crore.

With over Rs 9,000 crore debt, Anil Ambani's Reliance Naval now stares at bankruptcy

The Anil Ambani company has not been servicing its Rs 9,000 cr of debt for several months now.

Rafale deal: Anil Ambani to withdraw defamation suits against Cong, Herald

Anil Ambani's Reliance Group has decided to withdraw the Rs 5,000-crore civil defamation suits filed in an Ahmedabad court against Congress leaders and National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal.Rafale deal: Anil Ambani to withdraw defamation suits against Cong, Herald

Anil Ambani to withdraw defamation suits against Congress, Herald

The defamation suits were filed against the National Herald's editor Zafar Agha, and Vishwadeepak, the author of a news article published by it.

Coronavirus scare, poor Q3 results send Sensex 162 points lower; Nifty below 12,050

Market breadth was negative with declining shares outpacing advancing ones in ratio of 3:2 on BSE.

Anil Ambani's RCom's bankruptcy begins; next hearing on May 30

With this, RCom, which owes over Rs 50,000 crore to banks, has become the first Anil Ambani group company to be officially declared bankrupt.

NCLT begins bankruptcy process for Anil Ambani's Reliance Communications

RCom's committee of creditors will have to approve a new RP with a 66 percent vote after the NCLT starts the insolvency process.

Zee group, Anil Ambani firms lead in share pledges with lenders

Zee and Dish TV have their promoter pledging 66.2 percent and 94.6 percent of the ownership pledged.

From MF, radio arms to head office, Anil Ambani selling anything that has a price

Asset sales would help Ambani bolster the financial health of his group’s companies.

SBI probe flags Rs 5,500 crore deals among Anil Ambani companies

SBI has ordered an investigation — it suspects diversion of funds, evergreening of loans, preferential transactions.

Anil Ambani needs $2 billion in asset sales to save last bastion

The company told exchanges on April 27 that it only has short-term debt of Rs 950 crore.

Lenders to Anil Ambani’s RCom face steep haircut

Banks have decided to shortlist a resolution professional from a field of 15 players after NCLAT allowed resumption of insolvency resolution action against RCom.

If you thought it could not get any worse for Anil Ambani, think again

Reports have just revealed a coming trial that could be the beleaguered businessman's most bitter harvest yet.

R-ADAG shares down as Anil Ambani plans to sell or lease out Mumbai HQ

Anil Ambani is in talks with global pvt equity firms to sell or lease his headquarters in Mumbai.

The call Anil Ambani never got from Jio

The Supreme Court had directed DoT to approve RCom’s pact to sell spectrum to Jio after a Rs 1,400 crore guarantee.

No political interference in tax settlement with Anil Ambani's firm: France

"A global settlement was reached between the French tax authorities and Reliance Flag in a tax dispute pertaining to the period 2008-2012," the French embassy said.

Anil Ambani has money for Rafale, not for us: Ericsson

Swedish telecom company Ericsson rejected the industrialist's plea of fund crunch as an excuse claiming that his group had made enough profit to invest in the Rafale deal.

Amid Ericsson heat, Anil Ambani wants the AC on

Feeling warm inside the packed court room, Ambani asked why the air conditioning wasn’t on, only to be told he won't have his wish.

Anil Ambani group calls heavy selling ‘motivated’

L&T Finance, Edelweiss refute allegations, say had no option but to sell pledged shares.

Anil Ambani, world’s sixth richest in 2008, falls out of billionaire club

Total m-cap of six Anil Dhirubhai Ambani Group firms has dropped to Rs 6,196 crore.

Anil Ambani says group will repay all debt, delayed court awards hurting

Ambani said debt servicing payments were made through monetisation of assets.

Reliance Group has serviced Rs 35,000 crore debt obligations in past 14 months: Anil Ambani

Anil Ambani said despite no support from the system, his group managed to lessen the debt.

Slowdown grounds business jets as the rich tighten purse strings

India Inc is looking to tighten its belt amid the economic slowdown as it gives up on jets.

Anil Ambani thanks elder brother Mukesh Ambani for paying Ericsson dues

Anil Ambani faced a jail term of three months if the money due to Ericsson hadn't been paid by March 19.

How did it go this bad for Anil Ambani? The unmaking of a billionaire

Anil Ambani has been told to pay Ericsson Rs 453 crore by Tuesday or face jail.

Refuse to believe Rcom will let Anil Ambani go to jail, says SBI

Arguing for SBI, senior counsel NK Kaul reiterated that RCom had no right to have its dues paid by the Rs 260 crore “public money” held in the trust and retention account.

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