Mukesh Ambani owns Asia's largest mango orchard, over 200 varieties of mangoes are grown here, it is located.., it is named..
Mango is often referred to as the king of fruits. After waiting an entire year, everyone gets to eat mangoes in the summer when they are ripe. India is home to many different varieties of mangoes such as Alphonso, Malda, Langra, Dasheri, Chausa, etc. You wouldn't believe that Mukesh Ambani, India's richest man, also has a mango orchard that has made his company one of the largest mango exporters in the world.
In 1997, while facing environmental challenges at the Jamnagar refinery, Reliance transformed barren land into the Dhirubhai Ambani Lakhbaug Amrani orchard. Which mango varieties are grown in Ambani's orchard?
Did you know that Mukesh Ambani, one of the richest men in the world, owns a huge mango orchard in Jamnagar, Gujarat that spans about 600 acres? The 'Dhirubhai Ambani Lakhibagh Aamrai' consists of over 150,000 trees producing more than 200 types of mangoes, including premium varieties such as Hapus (Alphonso) and Kesar. Each year, thousands of tonnes of the premium mangoes are exported around the world from Ambani's orchard because of their amazing taste, smell, and quality.
The orchard can be considered an agricultural laboratory where researchers are using avenues such as soil health monitoring, drip irrigation, and organic agriculture to make certain that the yield and quality are internationally competitive. Why did Reliance decide to convert barren land into a mango orchard?
Mukesh Ambani started growing mangoes in 1998 and converted barren and saline land into fertile soil, taking into consideration the environmental and pollution control needs of the area. Nita Ambani personally cares for and supervises the ongoing care of this large garden tract.
In 1997, when Reliance's Jamnagar refinery encountered serious pollution problems, which prompted the Pollution Control Board to deliver stringent environmental warnings and enforcement. Reliance not only took it as a challenge but as an opportunity to rehabilitate the wastelands surrounding the refinery as mango orchards and start the Dhirubhai Ambani Lakhibagh Amraai. Where is this massive orchard located? How much revenue does Reliance generate from this mango business?
According to media reports, Reliance holds a 25% share of India's premium mango market, which is distributed through its huge retail network of more than 10,000 Reliance Retail stores and online, where they are marketed to a wide consumer base, accounting for approximately Rs 200 crore (US$25 million) in annual revenue domestically.
Reliance also provides modern farming training to local farmers here. Every year, approximately 1 lakh plants are given to the farmers free of charge to enable the farmers to make some additional money. Most notably, mango has established a strong business tie between India and America, and Mukesh Ambani's garden is helping to fulfill the increasing demand for Indian mangoes in the US and Europe.
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Business Standard
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₹17K cr loan fraud case: ED likely to summon Anil Ambani again in 10 days
The Enforcement Directorate may summon Anil Ambani again in the Rs 17,000-crore loan fraud case after he sought 10 days to gather documents and clarify financial decisions New Delhi Listen to This Article The Enforcement Directorate (ED) is likely to summon Reliance Group Chairman Anil Ambani again in 10 days for questioning in an alleged Rs 17,000-crore loan fraud case, according to sources. 'During questioning, Anil Ambani informed ED officials that he would need at least seven to 10 days to gather the necessary documents and facts related to the case,' a source said. 'Based on his request, the agency may summon him again within the next seven to 10 days,' the source added. Sixty-six-year-old Ambani was summoned to the ED headquarters in New Delhi on Tuesday, where his statement was recorded under
The Print
6 hours ago
- The Print
Anil Ambani's firms were under scanner of banks & SEBI before ED tightened noose around him
One involves a company allegedly incorporated by Ambani in 2006, with employees of the Reliance Group as directors and authorised signatories, according to findings of the Securities and Exchange Board of India. The second relates to a series of loans extended by Yes Bank during the tenure of its former chairman and managing director, Rana Kapoor. New Delhi: As the Enforcement Directorate (ED) tightens the noose around Reliance Group chairman Anil Ambani in a probe into an alleged loan diversion to the tune of Rs 14,000 crore, two central elements are under scrutiny in the case. The summons came a week after the federal probe agency searched 35 locations across the country, including premises allegedly linked to him, in a money laundering case related to loans amounting to Rs 3,500 crore from Yes Bank to Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL)—group companies of the Reliance Group, controlled by Ambani. Additionally, another major Reliance Group firm, Reliance Communications, may face action from the Central Bureau of Investigation (CBI) after State Bank of India reportedly flagged its account as fraudulent. A complaint to the agency is in process of being filed. An undisclosed controlled firm Ambani has been summoned for questioning in a money laundering case linked to two CBI investigations initiated in September 2022, following a complaint by bank management alleging quid pro quo transactions between Reliance firms and Rana Kapoor. The agency had booked Reliance Home Finance, Rana Kapoor and unidentified officials of these firms based on allegations that Yes Bank had invested Rs 2,965 crore in Non-Covertible Debentures of Reliance Home Finance (RHFL) between 2017 and 2019, when Kapoor was heading the bank's investment committee. These investments were later classified as non-performing assets, amounting to Rs 1,353.50 crore as of December 2019. The Yes Bank management alleged that forensic audits of these transactions revealed that the bank had invested these sums in RHFL after it extended two tranches of loans, each of Rs 60 crore, to RAB Enterprises and its 100 percent subsidiary, Bliss House, owned by Rana Kapoor's wife, Bindu Kapoor. Similarly, the bank had invested Rs 2,045 crore in NCDs with RCFL during the same period, allegedly in exchange for RCFL granting loans of two tranches, each of Rs 225 crore, to RAB Enterprises and Imagine Estate, another firm owned by Bindu Kapoor. According to the CBI FIR, Rana Kapoor did not disclose these transactions before Yes Bank made investments into these Reliance Group firms. According to officials, loans amounting to thousands of crores from banks, especially Yes Bank, were allegedly diverted through an undisclosed related party, Cresta Logistics, and ultimately reached to Anil Ambani and his family members. ThePrint reported that before searches by the ED, several financial watchdogs, including the Securities and Exchange Board of India (SEBI), shared their findings on the alleged misappropriation of loan amounts by Anil Ambani and his firms with the ED, providing fresh impetus to the investigation. The market watchdog shared the findings of its investigation related to Reliance Infrastructure, Crest Logistics, and how Ambani allegedly floated the firm to divert funds taken as a loan from banks including Yes Bank – the funds were later written off, leading to financial gains at the expense of banks, especially Yes Bank. Based on audited statements and financial records submitted by Reliance Infrastructure, the company had an exposure of Rs 9,010 crore in Crest Logistics, which increased to Rs 27,212 crore by 2022-23. 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According to SEBI, the firm consistently maintained its relationship with Exel Logistics on par with several other entities providing Engineering, Procurement, and Construction (EPC) services. While the firm has maintained its financial transactions amounting to thousands of crores over the decade, it never disclosed that CLE Private Limited was a related party in its financial statements. However, an investigation by SEBI found that a firm, Reliance HR Services, held the largest stake of 41.05 percent stake in the company. The SEBI investigation also found that Yes Bank considered CLE a 100 percent subsidiary of the Anil Ambani-controlled group while extending credit between 2013 and 2018. The bank also stipulated that the shareholding structure should not change until the loan was repaid. SEBI further found that as many as six former CLE directors held equivalent positions in one or more group companies of the Reliance Group. 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Also Read: ED issues Lookout Circular against Anil Ambani in loan fraud case, hours after summons for questioning SBI's inevitable complaint SBI sent a letter to Reliance Communications on 23 June, informing the firm that it had flagged its loan account as a potential fraud account on 13 June. This marked the second time in five years that the account had been classified as fraudulent. In November 2020, SBI had already marked the account as fraudulent and informed the Reserve Bank of India in line with its guidelines. However, in the wake of orders from the Delhi High Court and the Supreme Court regarding the classification of firms and promoters accused of committing fraud, the bank reinitiated the process. In this, the SBI management issued a Show Cause Notice to Reliance Communications and Anil Ambani along with a forensic report of the firm to the directors to explain their case. Anil Ambani presented his case before the bank's Fraud Identification Committee (FIC). 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NDTV
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