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During the no-confidence motion debate, Gandhi had accused the Modi government of changing the deal to benefit 'one businessman' Latest News  :  Billionaire Anil Ambani has written to Congress President Rahul Gandhi refuting allegations of his Reliance Group lacking experience to get the Rafale fighter jet deal and said the government had no role in French Group Dassault picking up his company as a local partner. In a two-page letter written on December 12, 2017, Ambani explained to Gandhi, who has been attacking the government over the  Rafale deal  , why his Reliance Group bagged the multi-billion dollar project. Invoking his family's "respectful relationship" with the Gandhi family over generations, Ambani said he was "personally saddened" by the "unfortunate statements" against him and his group by several functionaries of the Congress party. "Not only do we have the necessary experience but we are also the lead...

Reliance Jio Infocomm Ltd (RJIL), the unlisted subsidiary of Reliance Industries Limited (RIL) on Monday announced a plan to issue 15 billion equity shares of Rs 10 each to the existing shareholders (to raise Rs 15,000 crore) ahead of the launch of the  4G telecom services  in April. This is the second largest rights issue announced after State Bank of India, which had raised Rs 16,700 crore in January 2008. RJio’s shareholders include RIL - which owns close to 99.16 per cent stake while around one per cent is owned by the Nahatas of HFCL in a personal capacity. This means 99 per cent of the Rs 15,000 crore will come from RIL’s coffers. As on September last year, RIL had cash equivalents and investments of Rs 87,911 crore. RIL’s board of directors is meeting on Tuesday to announce its December quarter results and is expected to take a call on the investment. RIL has invested Rs 30,000 crore in RJio in the form of equity and also provided guarantee to RJIL’s debt obligation...

Ahead of the commercial launch of Reliance Jio (RJio) in April, the Ambani brothers on Monday inked the spectrum trading and sharing agreements for 800 Mhz spectrum, which will bolster RJIo’s spectrum holdings. Anil Ambani’s Reliance Communication (RCom) signed spectrum trading agreement with Mukesh Ambani’s Reliance JIo Infocomm for 800 Mhz licences in nine circles.  Read Articles  

Expanding his defence sector play, Reliance Group Chairman Anil Ambani on Sunday announced setting up of a new naval shipbuilding facility with an initial investment of Rs 5,000 crore.  Read Articles