Mukesh Ambani not world's richest man, says Reliance
NEW DELHI: Reliance Industries moved swiftly on Tuesday to deny a report that company chief Mukesh Ambani has become the world's richest man thanks to a surge in stock market.
An agency report putting his wealth at $63.2 billion hailed his rise as another triumph for the nation's booming economy.
But Reliance said Ambani was not quite so rich after all, with a net worth of somewhere in the region of $50 billion.
The multi-billionaire was listed by Forbes magazine earlier this year in 14th place among the world's richest people with an estimated wealth of $20.1 billion, way behind Microsoft's Bill Gates on $56 billion.
The breakneck rise in benchmark Sensex index, which rocketed to 20,000 points on Monday, after gaining nearly 4,000 points in six weeks, meant 49-year-old Ambani was now worth 63.2 billion.
"They are completely wrong. They have done double calculations," Reliance spokesman Tushar Pania said, explaining that Ambani, 49, does not have a direct share in Reliance Petroleum.
Ambani's wealth was calculated on the strength of his holdings in Reliance Industries and group companies Reliance Petroleum and Reliance Industrial Infrastructure Limited.
The richest industrialist in the country Mukesh Ambani has achieved another distinction. Amabani’s new house Antilia has consumed 6,37,240 units of power and the current bill for one month is a whopping 70,69,488 rupees!
However considering his wealth the current bill of 70 lakhs is small change for Mukesh Ambani, wat say?!
After footwear and jewellery, its Reliance Milk now!
After creating a lot of controversy with its ambitious plans in the retail sector, Reliance has now embarked on another ambitious project. Reliance is entering the dairy business in a big way. Mukesh Ambani has rolled out his plans for his dairy business in Mumbai today.
Reliance will sell milk, milk based products like paneer, pizza cheese and even ice cream. Reliance wants to take on the giants in the dairy field, Amul and Mother dairy in a big way. The group is initially investing about 5,000 crores and will slowly raise it to 7,000 crores. Reliance will sell milk in Andhra Pradesh, Haryana and Gujarat through its retail outlets – Reliance Fresh.
The Ambani’s in Business and Yash Raj Films in Filmdom are spreading like creepers and what if they collaborate to open new spheres of competition.
While little brother Anil Ambani had already collaborated with Adlab films, Big Brother Mukesh Ambani makes his decision to collaborate with Yash Raj Films only recently. So lets see how big the YRF budget gets after this collaboration!
The Reliance chief Mukesh Ambani visited Tirumala along with his family on Sunday. He donated five big digital screens worth about 5 crore to the Tirumala Triupathi Devasthanams. The screen will be set up outside the temple and will screen all the sevas being performed insides the temple.
Mukesh also handed over the keys of a cottage for pilgrims constructed at a cost of 7 crore. He also agreed to fund the setting up spiritual schools in all districts of the state.
Chief Minster Y S Rajashekar Reddy is yet to give his nod for Anil Ambani’s proposed project in Hyderabad. The project is a 100-storied Twin Towers. Anil Ambani’s Reliance Energy was the highest bidder in the open auction and quoted Rs. 6.57 crore per acre.
But the government is yet to issue the Letter of Intent to the successful bidder. It is being said that Ambani’s close friendship with former UP CM Mulayam Singh Yadav is the reason behind the delay. Mulayam is a bitter critic of the Congress and its chief Sonia Gandhi. And therefore Y S Rajashekar Reddy does not want to offend the party high command by rushing things to accommodate Anil Ambani
Anil Ambani led Anil Dhirubhai Ambani group has big plans for entertainment industry. The company through its entertainment company Reliance Big Entertainment is finalizing plans to produce and distribute 69 films during the next twenty four months alone.
If this was not enough, the company is exploring the possibility of entering Hollywood in a big way as well by roping in big names from the Hollywood.
The company also plans to add another 300 cinema halls to its present kitty of around 100 that it operates right now.
The Reliance Big Entertainment has signed a deal with Vidhu Vinod Chopra for two films including “Broken Horses”, a mainstream English film. The company has also signed a six film deal with Farhan Akhtar’s production house.
Vinod Chopra while commenting on the deal said, “Vinod Chopra Films is proud to be known for raising the bar in Indian cinema, discovering and nurturing new talent, giving established filmmakers and actors the opportunities to excel in their works and striving for excellence without compromise. We are excited and proud to be associated with Reliance BIG Entertainment and know that this alliance will ensure that our films reach every corner of the world, allowing us to take our cinema to the next level.”
There are several much hyped film that are in the list that Ambanis have fnalised. The films include the much hyped Sarkar Raj as well. The film include Amitabh Bachchan, Aishwarya Rai and Abhishek Bachchan.
These are the words of Megastar at ATA conference, Los Angels, US. Megastar who attended the 9th ATA conference and youth convention that was held from 30th June to 2nd of July at Los Angels, US couldn't control his emotions after seeing the huge crowd and claims the Richest person of the World.
On addressing the conference, the emotional star claims that he is the richest man in the world and adds ' I am richer than software king Bill Gates. I am having billions fans who are more valuable than Bill's billions of Dollars'.
It was a great occasion for NRI's who are living in US. People of all ages enjoyed this pleasant occasion with Megastar.
2007/11/16 12:18:14 The Reliance group is slowly entering into many different sectors. After starting with Reliance Fresh, the group later started Reliance Wellness. After that it has started Reliance Footprints- selling branded footwear. Now the group plans to start Reliance saloons. The company is scouting for suitable land in Hyderabad to set up the saloons. The group wants to set up about 9 high tech saloons.
But the move has alarmed the roadside barbershops. A delegation of Nayee Brahmins has submitted a memorandum to the chief minister asking him to intervene and stop Reliance from setting up saloon. They said that if big corporates enter this business, then lakhs of people would be snatched off their livelihood and thrown onto the streets.
Reliance Entertainment has picked up a 50% stake in ND Studios [Nitin Desai], which is located in Karjat, for about Rs. 150 crores. While Desai will continue to manage operations, Reliance will focus on scaling up the studio. The plan is to make it the biggest studio in the world, on the lines of leading studios of Hollywood.
For the time being, the studio will be called BIG ND Studio. Currently, it has two shooting floors and with Reliance coming in, the plan is add 12 more floors and town squares that resemble European locations, Mumbai and Singapore. Besides Bollywood, the focus is to attract Hollywood productions to shoot in the studio.
Mukesh Ambhani's Sweet home costs Rs.8,000 Crores only
India’s richest man Mukesh Ambhani may shift into his new house built at Alta Mount Road in Mumbai on 28th of this month. It is a 27 storied building which was estimated to be built with an approximate cost of Rs.8000 Crore. The building was built in an area of 4 Lakh Sft area, with 568 feet height, which can be called as a sky scrapper. Each room and floor has been richly decorated, which has no resemblance to any other room or floor. If, one floor appears in European style, the other floor will be in Rajasthani style. It applies to all the rooms also. This building has 9 high speed lifts and 3 helipads on its roof.
Initially, Mukesh faced lot of problems from Mahrashtra Government and some other departments of the state which objects him for this construction. However, he managed to overcome all those problems and finally completed the construction of his luxurious sweet home in 7years.
Mukesh named his sweet home as Anteela. Total six floors were allotted for Vehicles parking, Garden, Health Centre, Mini Theatre, Swimming pool, and Guest House. Rest of the building will be used for his Office, Residence and for servant quarters. Total 600 servants will work round the clock to serve Mukesh’s five member family- wife Neeta Mukesh, one daughter and his two sons.
Mammootty's first film with noted director Shaji.N.Karun titled Kutty Srankku, will be produced Reliance Entertainment, the first ever production by Anil Ambani's newly launched entertainment concern in Malayalam.
Mammootty is giving priority dates for the film, which will be shot in three schedules in and around the famous Vembanad Kayal, the picturesque lake stretching from Alappuzha to Kumarakom , in Kuttanad area of Kerala. The three schedules are necessary as weather and season play an important part in Shaji's story, set in the early 1950's.
There will be three heroines in the film, mostly from Bollywood including a Sri Lankan girl. As per the story Mammootty's character in the film will have three lady loves in the three islands he visits! The script of the film is rumoured to be a joint venture being written by Shaji and the noted British critic Farukh Dhondy of Bandit Queen fame.
After completing the dubbing work of his Ranji Panikkar film Rowdram, Mammootty is now shooting for Anwar Rashid's Vishu film Annan Thambi in Pollachi. He will start work on Kutty Srankku in mid- March, for which he will be having a different look.
The film will be made in Malayalam with English subtitles for an international audience. Shaji would like to complete the film by July and hold it's world premiere at the Venice Film Festival in September.
Kutty Srankku is sure to become an event in Malayalam cinema, and with the marketing arm of Reliance Entertainment, the film is going to go places. The two masters of Malayalam cinema, Shaji and Mammootty is sure going to rock world cinema!
2011/9/10 5:26:43 Mukesh Ambani-led Reliance Industries violated the agreement to share gas produced in the Krishna-Godavari basin and failed to part with the government's due share of the hydrocarbon, the official auditor said Thursday.
In a report tabled in parliament, the Comptroller and Auditor General of India (CAG) did not make any comment, though, on the manner in which the company had sharply raised its capital expenditure claimed on the project from $2.4 billion to $8.8 billion.
As per the production-sharing contract, Reliance Industries should have given to the government a share of 25 percent of the total area outside that allocated to it. However, the company was allowed to treat the entire area as its discovered area, the report said.
There was also an about-turn in the government's and the watchdog's own interpretation, said the auditor, since it earlier had held that the 25 percent share must be given to the government.
"Subsequently, in February 2009, the Government of India also conveyed its approval to treat the entire contract area of 7,645 sq km as discovery area, thus enabling the operator to completely avoid relinquishment of area," the report observed.
"We recommend the Ministry of Petroleum and Natural Gas should review the determination of entire contract area as discovery area, strictly in terms of the production sharing contract provisions," the report said.
Reliance Industries said it would not be in a position to give its complete comment on the matter as it was yet to see the final report of the auditor, but added that it will continue to cooperate with the audit agency and the government.
"We maintain that in KG D6, Reliance Industries has set global benchmark for effective, efficient project completion and capital cost competitiveness under the most trying circumstances and we are proud of our achievements," the company said.
"We reiterate that as a contractor, we remain committed to complying with the production-sharing provisions and procedures, including the adopting good international petroleum industry practices in our operations."
The issue had raised a lot of heat within and outside parliament two years ago, resulting in a probe by the Central Bureau of Investigation (CBI) that is still ongoing into the conduct of then director general of hydrocarbons V.K. Sibal.
The oil ministry had written to the official auditor in November 2007 requesting special audits on certain oil and gas blocks awarded under both the new and the old norms. The report tabled Thursday covers two fiscal years since April 2006.
According to the audit report, the oil regulator should have stopped Reliance Industries -- India's largest company in terms of market capitalisation -- from proceeding with the sunsequent phases of producing gas in the light of the earlier violation of contract.
The company, according to the oil watchdog, has been producing 48 million standard cubic metres of gas per day from the fields called the D6 block, off the Andhra Pradesh coast, where one of the world's largest discoveries of gas were made in 2002.
This production volume, however, is not only lower than the company's stated estimated peak capacity of 80 million units but also 60 million units being produced last year.
The report also said the oil ministry and the directorate were ill-equipped to oversee the production-sharing contracts with private players and said functions that are of a regulatory nature must be addressed by an autonomous body.
The report also examined a Rajasthan block awarded to Shell and transferred to Cairn and the Panna-Mukta and South Tapti fields awarded to Enron and Reliance Industries, where the former later transferred its 30-percent share to British Gas. (IANS)
SINGHAM GROSSES Rs 47.70 CRORES WORLDWIDE IN ITS OPENING WEEKEND
Reliance Entertainment’s Singham that released in 2000 screens worldwide on 22nd July has grossed Rs 47.70 crores at the box office in its opening weekend making it the second highest opening for this year.
The successful actor- director duo Ajay Devgn and Rohit Shetty’s action packed entertainer Singham grossed Rs. 44.2 crores in India (Rs. 30.93 crores net) and Rs. 3.5 crores gross overseas.
Singham has roared its way into the Top 10 chart of Domestic Opening Weekends of all time and stands at the 10th position with Rs. 30.93 crores net collections.
Sanjeev Lamba, CEO, Reliance Entertainment said, “Singham is off to a wonderful start worldwide. The film received an overwhelming response from the audience over the weekend and we hope will continue its successful run all over the world in the weeks to come.”
Reliance Entertainment released Singham in 38 countries internationally on 22nd July. In its second phase the film will release in additional 21 countries.
Singham is produced by Reliance Entertainment and directed by Rohit Shetty. It stars Ajay Devgn, Kajal Aggarwal and Prakash Raj
After a long break, Mukesh is back into Tamil films with ‘Anjam Padam’. This film is directed by Bhadra and produced by the famous Tamil actress Khushbu. In this film Sunder .C, Vadi Velu and Simran will act with Mukesh. Mukesh had debuted as hero in Tamil with the film ‘Jathi Malley’. This film was directed by ace Tamil film director K. Balachandar.
In ‘Jathi Malley’, Khushbu plays Mukesh’s heroine and Vineeth also plays a pivotal role in this film. After ‘Jathi Malley’, Mukesh had got many offers from Tamil, but he preferred Malayalam films to Tamil and struck with the former.
Today Mukesh has a production banner and is very busy with Malayalam films. Like Innocent and Jagathy, he is one actor who has never had a lean patch.
Despite being busy, Mukesh took up the offer of Khusboo. His next project in Malayalam is ‘Swapnangalil Hazel Mary’, directed by George Kithu.
Varun questions BJP 'silence' on CAG's Reliance report
2011/9/9 17:35:37 New Delhi, Sep 9 (IANS) Bharatiya Janata Party (BJP) MP Varun Gandhi Friday questioned his party's "silence" on the Comptroller and Auditor General (CAG) report "indicting" Reliance Industries Ltd on the contract related to the Krishna-Godavari (KG D6) basin.
The Pilibhit MP's comment, posted as a tweet, also questioned the government's response on the issue.
Varun Gandhi tweeted: "The Government and BJP both silent, wonder why? CAG indicts Reliance and it is clear violation of the Government contract."
The CAG report, which was tabled in parliament, said that RIL violated the agreement to share gas produced in KG D6 basin and failed to part with the government's due share of the hydrocarbon.
The auditor said as per the production-sharing contract (PSC), Reliance Industries should have given to the government a share of 25 percent of the total area outside that allocated to it.
However, the company was allowed to treat the entire area as its discovered area, the report said.
RIL denied any wrong-doing on its part in executing the production sharing contract.
He is known as a maverick director but there is more to Ram Gopal Varma than meets the eye.
RGV is also a shrewd businessman with a sharp mind and superb marketing techniques. RGV proved this with his biopic Rakta Charitra.
RGV shot the film at one stretch and then made it into two parts. So, one has to buy tickets twice in order to watch part 1 and part 2. This means he is making double the money with just one film - one film two tickets.
RGV has increased the profit margin by releasing the film in Tamil as well as Hindi. The Ambani brothers Mukesh and Anil can sure learn a trick or two from RGV.