Company Affairs Ministry says 'no comments' on RIL Even as market watchdog SEBI (Security Exchange Board of India) swung into action over allegations of insider and unfair trading practices in Reliance Industries' scrip, the Ministry of Company Affairs today (Dec 27, 2004) refused to comment on the matter.
Drug prices will not rise in patent regime: Nath Government today (Dec 26, 2004) sought to allay fears that the new patent regime will make drugs unaffordable saying the Ordinance had adequate safeguards to protect interests of common man.
RIL reaffirms investment commitment to Infocomm The board of Reliance Industries Ltd (RIL) today (Dec 27, 2004) reaffirmed its commitment to be the lead investor in Reliance Infocomm Ltd (RIC) with a 45 per cent stake, while its business would be conducted through both RIC and Reliance Communications Infrastructure Ltd (RCIL).
RIL buyback fails to impact, Sensex up by 15 pts Though today's (Dec 27, 2004) crucial RIL board meeting failed to make any positive impact on the company's shares, the overall sentiment remained bullish on the stock market and the Sensex closed past 6500-mark at a new historic high of 6513.03, up by 14.97 points on good buying by foreign funds, completing three-session gaining streak.
SEBI to examine insider, unfair practices in RIL Securities and Exchange Board of India (SEBI) will examine the legal aspects of alleged insider and unfair trading practices in Reliance Industries Ltd's (RIL) scrip in the wake of RIL Vice-Chairman and Managing Director Anil Ambani's comments before the company's board meeting.
RIL Board reposes full faith in Mukesh Ambani Rallying behind chairman Mukesh Ambani, the board of Reliance Industries Ltd today (Dec 27, 2004) reposed full faith in him amid the fight by younger brother Anil, saying the "present organically integrate structure of the company should not be changed".
RIL constitutes Corporate Governance Committee The board of Reliance Industries Ltd (RIL) today (Dec 27, 2004) nominated its director Y P Trivedi as its representative in Reliance Infocomm and constituted a Corporate Governance Committee.
RIL approves buyback; first 'round' goes to Mukesh Mukesh Ambani, battling with Anil Ambani over control of the Rs 90,000 crore Reliance Group, today (Dec 27, 2004) appeared to have won the first round with the entire RIL (Reliance Industries Limited) board backing him fully on the controversial proposal for buy-back of shares and other issues, as the younger brother abstained during voting.
Chidambaram vows to simplify complex tax structures Two months ahead of the Budget for 2005-06, Finance Minister P Chidambaram today (Dec 27, 2004) promised to make tax structure simpler for petroleum, telecom, sugar and textiles sectors.
Anil 'recuses' himself from the discussion on REL Anil Ambani "recused" from discussion on Reliance Energy Ltd (REL), headed by himself, at the crucial board meeting of the Reliance Industries Ltd today (Dec 27, 2004).
FM declines to comment on Anil Ambani's allegations Finance Minister P Chidambaram today (Dec 27, 2004) declined to comment on the allegations of insider trading in Reliance Industries leading to sudden rise in its scrip price.
"I will not comment on allegations," he said when asked about the statement made by Anil Ambani that "there is more than that meets the eye" regarding the buyback of shares, ahead of RIL board meeting.
RIL at the receiving end, Sensex recovers smartly Notwithstanding a sharp decline in top heavyweight, Reliance Industries (RIL) due to investors wrath following tussle between Chairman Mukesh Ambani and Vice-chairman Anil Ambani in board meeting today (Dec 27, 2004), the sensex staged a smart recovery and hit yet another historic high of 6510.06 at 10:30 hrs (IST) during morning trading in the Bombay Stock Exchange (BSE) today.
The war begins: Anil Ambani questions RIL buyback Declaring a war against warring elder brother Mukesh, Reliance Industries Ltd vice chairman and Managing Director Anil Ambani today (Dec 27, 2004) lashed out at the proposed buyback ahead of the crucial board meeting questioning the intentions of the move.
The crucial RIL board meeting all set to begin The stage is set for the crucial board meeting of the flagship company Reliance Industries Ltd (RIL) which is to begin this morning where many contentious issues, including investments in Reliance Infocomm (RIC) and Reliance Energy Ltd (REL) would be discussed threadbare.
