
Good news for Nita Ambani's MI, won This championship league to add 13th overall title
New Delhi: Mumbai Indians have once again spread their luster. MI New York has added another precious gem to the crown of Mumbai Indians by winning the 2025 Major League Cricket (MLC) title. This is his second MLC trophy in three seasons. With the same it becomes Mumbai Indians' 13th major title globally and third trophy in 2025, with MI Capetown winning the SA20 and Mumbai Indians women's team winning the WPL. Five leagues and three titles across three continents
This year, Mumbai Indians performed brilliantly in both men's and women's categories, competing in five different leagues across three continents. Notably, MI teams reached the playoffs in all these leagues and became champions in three of them.
Mumbai Indians co-owner Neeta M. Expressing happiness over the historic achievement, Ambani said, 'This is an extremely special moment for the Mumbai Indians family! New York lifting the MLC trophy for the second time in three years is not just a victory on the field, but a celebration of passion, belief and team spirit. From the women's Premier League in India to the game in South Africa and now it shows that it has been a successful journey. How to spread happiness around the world by erasing borders.' Akash Ambani appreciates the team
Akash M. Ambani also called the breakthrough a 'humbling and proud moment'. 'Winning titles in three countries — India, South Africa and the US — is extremely satisfying for us. It's not just about winning trophies, but creating a platform that gives opportunities to talents and reasons for fans to dream,' he said. Total titles ever and global dominance
Mumbai Indians have won 13 major T20 titles so far — 5 IPL trophies, 2 Women's Premier League, 2 MLC titles, 2 Champions League T20, and one each in ILT20 (MI Emirates, 2024) and SA20 (MI Cape Town, 2025). Globally unbeatable brand
Mumbai Indians' five teams span four countries and three continents, and MI's presence in every league means the highest level of quality and competition. This franchise is consistently setting new records in global T20 cricket. Unbreakable relationship with fans
Mumbai Indians' success goes largely to their fans, namely the MI Paltan. Both Nita Ambani and Akash Ambani emphasized that the journey would have been incomplete without them. His support is the motivation of the team.
With this achievement, the caravan of Mumbai Indians will not stop there. The team aims to continue to dominate globally in the future and touch new heights on the cricket stage.
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Hans India
28 minutes ago
- Hans India
Anil Ambani Group on ED radar
Mumbai: The Enforcement Directorate on Thursday conducted multiple raids as part of an alleged Rs3,000 crore worth bank loan fraud linked money laundering case against the companies of Reliance Group chairman Anil Ambani, official sources said. More than 35 premises in Mumbai belonging to 50 companies and 25 persons are being searched under the Prevention of Money Laundering Act (PMLA), they said. The investigation is being carried out by a Delhi-based investigation unit of the sources said they are probing allegations of illegal loan diversion of around Rs3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017 and 2019. Two group companies, Reliance Power and Reliance Infrastructure, said in separate but identical regulatory filings that the ED action has had 'absolutely no impact' on their business operations, financial performance, shareholders, employees, or any other stakeholders. 'The media reports appear to pertain to allegations concerning transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) which are over 10 years old,' the companies said. The ED, the sources said, has found that just before the loan was granted, Yes Bank promoters 'received' money in their federal probe agency is investigating this nexus of 'bribe' and the loan. Sources said the ED is also probing allegations of 'gross violations' in Yes Bank loan approvals to Anil Ambani Group companies, including charges like back-dated credit approval memorandums (CAMs), investments proposed without any due diligence/credit analysis in violation of banks credit policy, the sources said. The loans are alleged to have been 'diverted' to many group companies and shell companies by the entities involved.


Time of India
4 hours ago
- Time of India
ED searches 35 premises linked to Anil Ambani
NEW DELHI: Early on Thursday, the ED swooped in on more than 35 premises identified with industrialist Anil Ambani and at least 50 entities associated with his Reliance Anil Dhirubhai Ambani Group (ADAG) across Mumbai in a larger money laundering investigation targeted at him based on multiple FIRs registered by CBI and other agencies over the last few years. The searches have huge financial implications for public money, Rs 20-30,000 crore, which the agency believes has been siphoned off. Ambani investigation throws up mysterious entity: 'C Company' The searches at premises identified with industrialist Anil Ambani have huge financial implications for public money, Rs 20-30,000 crore, which the agency believes has been siphoned off, including outside the country, through "undisclosed foreign bank accounts and foreign assets" created over the years. A large chunk of the money came to Reliance ADAG from SBI and other public sector banks, besides Yes Bank, then a private entity, and mutual funds. Preliminary investigation has thrown up a mysterious entity: 'C Company'. The entity, whose existence was not known so far, is allegedly found to have been involved in related party transactions in this whole scam, sources said. Sources said ED was probing an alleged loan fraud ofRs 14,000 crore involving Reliance Communications Ltd and other associated entities. In response to a question in Lok Sabha on Monday, minister of state for finance Pankaj Chaudhary said SBI has "classified Reliance Communications Ltd along with promoter director Anil Ambani as 'fraud' on June 13". This has also been communicated to Bombay Stock Exchange. "Based on information received from Sebi, ED has found Reliance Infra has diverted large sums of money disguised as ICDs to group companies of ADAG (Anil Ambani group) through 'C Company', an undisclosed related company," a source told TOI. Reliance Infra did not disclose 'C Company' as its related party in order to avoid having to take proper approval from shareholder and audit committees, the source added. It was also hidden presumably to circumvent checks and balances imposed on related party transactions as per laws. Besides, there is an investigation in the alleged diversion of loans of over Rs 10,000 crore by Reliance Infra. ED's probe is looking at why Reliance Infra took a haircut of Rs 5,480 crore, receiving only Rs 4 crore in cash, while agreeing to settle the remaining Rs 6,499 crore through transfer to certain discoms, which have neither been operational nor done business for many years. The agency is already probing Ambani and his entities in a case of Rs 3,000 crore received from Yes Bank where he is alleged to have bribed the former CEO of the bank, Rana Kapoor, through his wife's company for Rs 225 crore. In another case of alleged misappropriation of bank funds, the agency is probing Reliance Communications for a loan default ofRs 1,050 crore to Canara Bank. Sources said more than 25 individuals, including Ambani and his close associates, are targets of the search operations which started on Thursday morning in a probe initiated under the Prevention of Money Laundering Act. ED is being assisted by multiple agencies, including National Housing Bank, Sebi, National Financial Reporting Authority and Bank of Baroda among others. The alleged loan diversion of around Rs 3,000 crore from Yes Bank pertains to the period between 2017 and 2019. ED is investigating alleged quid pro quo in sanction of loan as a Reliance Anil Ambani entity had transferredRs 225 crore into the accounts of RAB Enterprises, in which Rana Kapoor's wife Bindu Kapoor had 100% stake. These are all part of an FIR registered by CBI and now being investigated by ED. The FIR also alleged that credit approval memorandums were back dated, and the proposed investments lacked due diligence, not meeting the bank's credit policy. Sources said preliminary investigation found that these loans were diverted to many group entities and shell companies, in many cases there was no proper documentation to loans issued. In several cases, borrowers were found to have common addresses and directors.


Indian Express
14 hours ago
- Indian Express
ED raids: Anil Ambani's fall and the flicker of a comeback
After the split between the Ambani brothers, Anil Ambani's journey took a dramatic and difficult turn. Once commanding a glittering business empire, he soon found himself caught in a storm of debt defaults, financial losses and insolvency proceedings. Companies that were once household names — Reliance Communications, Reliance Capital, Reliance Power, and Reliance Infrastructure — began to unravel under the weight of mounting liabilities and regulatory setbacks. Thursday's Enforcement Directorate raids at numerous locations and on a number of firms linked to Anil Ambani's Reliance Group comes as the latest setback to the business house at a time when it was looking to get back on its feet after years of moving from one crisis to another. Over the past two-three years, the Reliance Group looked to start on a revival journey, with a focus on sectors like clean energy, infrastructure, and defence. It remains to be seen whether the Reliance Group will be able to stay the course it had charted for itself, or be derailed yet again. By 2017–2018, many of these firms had either entered bankruptcy or faced severe distress. Reliance Communications – which had a market capitalisation of Rs 1.5 lakh crore at its peak in 2007 — ceased mobile operations in 2019 after filing for bankruptcy, burdened by an unmanageable debt of Rs 46,000 crore. Reliance Capital, a leading NBFC of its time, defaulted on over Rs 40,000 crore and eventually lost its insurance and asset management businesses — Nippon of Japan took over the asset management and life insurance businesses of the group, while the general insurance arm and Reliance Capital were acquired by the Hinduja-led IndusInd group through the resolution process. In June this year, the State Bank of India (SBI) officially labelled Reliance Communications' loan account as 'fraudulent,' alleging fund diversion that traces back to 2016. Reliance Naval, acquired by the Reliance Group in 2015, was tasked with building five offshore patrol vessels under a Rs 2,500 crore defence deal. After years of delays and financial setbacks, the Navy cancelled the project in 2020, citing failure to meet deadlines. With over Rs 7,000 crore in debt and no restructuring plan, the company entered bankruptcy in 2020. In December 2022, Swan Energy took over its assets through the insolvency process. As the financial empire crumbled, the group sought to restructure its remaining assets under India's Insolvency and Bankruptcy Code. Some businesses were wound up, others dissolved or sold off, while a few found breathing room to regroup. Anil Ambani himself quit from the boards of various group companies including Reliance Infrastructure and Reliance Power. In fact, none of the family members are on the boards of major group companies. Tina Ambani is on the board of Dassault Reliance Aerospace Ltd. In August 2024, the Securities and Exchange Board of India (SEBI) too imposed a five‑year ban on Anil Ambani and 24 other entities from participating in the securities market. He was also hit with a Rs 25 crore penalty (approximately $3 million) for orchestrating a fraudulent scheme to siphon off funds from Reliance Home Finance Ltd (RHFL) via unsafe general‑purpose working capital loans to entities linked to the promoters. Last month on June 13, State Bank of India classified Reliance Communications along with promoter director Anil D Ambani as 'fraud' and on Monday the Parliament was informed that it was in the process of lodging a complaint with the CBI. The entities were classified as fraud in accordance with the RBI's Master Directions on Fraud Risk Management and Bank's Board-approved Policy on Classification, Reporting & Management of Frauds, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha From 2022 onward, the Anil Ambani group began a cautious, if ambitious, attempt at revival– pivoting towards clean energy, infrastructure, and defence manufacturing. This new strategy placed sustainability and technology at its core, with a renewed focus on solar power and battery energy storage. The group's revival plan is led by power and infrastructure arms. Reliance Power has an operating portfolio of 5,305 MW, that includes 3960 MW Sasan Power Limited (world's largest integrated coal-based power plant). Following Reliance Power's achievement of zero debt, Rosa Power, which operates a 1,200 MW coal-based thermal power plant in UP, is now on track to become debt-free. The company aims to settle its remaining debt in the next quarter, completing the process before the end of the current financial year. It's now planning to invest over Rs 10,000 crore in a solar power plant and an integrated solar manufacturing facility in Andhra Pradesh. Reliance Power made a profit of Rs 2,947 crore in FY24 and Rs 44.79 crore in the June quarter of FY26. Reliance Infrastructure, once weighed down by debt, reported zero standalone net debt by FY 2025 and posted a net profit of Rs 216 crore in Q4 of FY25 as against a loss of Rs 3,202 crore in Q3 of FY25. India Ratings recently upgraded Reliance Infra's rating from D to B, pointing to the timely servicing of standalone debt obligations for three consecutive months ended 30 June 2025. However, it said Reliance Infra continues to face elevated group-level risk due to the financial distress in several subsidiaries. The company now operates through a diversified network of special purpose vehicles (SPVs) across critical growth sectors such as power, roads, metro rail, airports, and defence. During FY25 and 1QFY26, Reliance Infra made significant progress in resolving legacy financial obligations arising from corporate guarantees and other liabilities. Reliance Power stocks saw a 121 per cent rally from the 52-week low, signalling renewed investor interest. However, promoter holding in Reliance Infra remains modest at just 19.05 per cent, reflecting continued capital dilution and financial restructuring. Reliance Infra and Reliance Power — the two major listed entities — have a market capitalisation of Rs 14,262 crore and Rs 24,690 crore respectively now. At its peak in 2008 before various companies collapsed, the group had a market capitalisation of Rs 3.45 lakh crore. Reacting to the ED raids, Reliance Infra and Reliance Power said in similarly-worded statements that the ED's actions 'have absolutely no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders', and that the companies have no business or financial linkage to Reliance Communications and Reliance Home Finance, which are purportedly at the centre of the ED's action. In the aerospace sector, the group had earlier formed Dassault Reliance Aerospace Ltd (DRAL) in 2017, a joint venture with France's Dassault Aviation under the offset obligations of the Rafale fighter jet deal. While DRAL did deliver aerostructure components—such as cockpit assemblies—for Falcon 2000 jets, its role remained modest, accounting for only a small part of the total offset value. Plans are now afoot to deepen the partnership between Dassault and the Reliance Group, with plans to manufacture the former's business jets in India. Dassault and Reliance Group announced last month that DRAL will be setting up a final assembly line (FAL) for manufacturing the Falcon 2000 jets at Nagpur. The first made-in-India Falcon 2000 jet is expected to be ready by 2028. This will be the first instance of Dassault manufacturing the popular business jet outside France. The made-in-India jets will cater to rising business jet demand in India and international markets, according to the partners. At Mihan, Nagpur, DRAL has a manufacturing facility for making various sections of Dassault's best-selling business executive jet–the Falcon 2000. Since delivering its first Falcon 2000 front section in 2019, DRAL has assembled over 100 major sub-sections for the Falcon 2000. While Dassault and the Reliance Group have not spelt out the capacity of the Falcon 2000 production facility at Nagpur, but sources in the know indicated that it could be up to 24 aircraft a year. This would be the first-ever instance of a foreign aircraft manufacturer setting up an FAL in India for fixed-wing civilian aircraft. Over time, however, Dassault's newer defence partnerships have increasingly leaned toward other Indian players like Tata, signalling a reduced reliance on the Anil Ambani group in this space. The group recently announced big plans in the ammunition segment also. In June 2025, Reliance Defence formed a strategic partnership with Diehl Defence of Germany to manufacture Vulcano 155 mm precision-guided artillery shells domestically. In May 2025, the group signed an agreement with Rheinmetall AG, another major German defence manufacturer to supply explosives and propellants for medium and large-calibre ammunition. Despite years of financial turbulence, the group has shown signs of resilience and reinvention. Though much of the original empire lies dismantled, a leaner, more focused Anil Ambani Group is trying to chart a comeback—anchored in energy, infrastructure, and defence, yet still shadowed by its legacy of debt and regulatory scrutiny. Sukalp Sharma is a Senior Assistant Editor with The Indian Express and writes on a host of subjects and sectors, notably energy and aviation. He has over 13 years of experience in journalism with a body of work spanning areas like politics, development, equity markets, corporates, trade, and economic policy. He considers himself an above-average photographer, which goes well with his love for travel. ... Read More