Latest news with #AnilAmbani
India.com
3 hours ago
- Business
- India.com
Anil Ambani shares close relationship with Bollywood actor Anil Kapoor! Tina Ambani's niece is...
Anil Ambani shares close relationship with Bollywood actor Anil Kapoor! Tina Ambani's niece is... Anil Ambani is gradually making a promising comeback in the business world, supported by his sons, Jai Anmol Ambani and Jai Anshul Ambani. Industrialist Anil Ambani, along with his wife, former actor Tina Ambani, are often spotted in the public domain; one such event was visiting Prayagraj for the Mahakumbh. While Tina Ambani is a former Bollywood actress known for films such as Baaton Baaton Mein and Karz, Yeh Vaada Raha, Fiffty Fiffty, Souten, Bewafai, Suraa, her sister is also making headlines lately. Although the industrialist maintains a simple appearance and leads a modest life, Anil Ambani's family shares a connection with Bollywood icon Anil Kapoor's family. But how? Read the article till the end! Tina Munim Ambani's sister, Bhavana Motiwala, has made her significant mark in Bollywood as a talented costume designer, working on popular films including Souten, Aakhir Kyon?, and Rocky. Away from the spotlight, she leads a grounded life with her husband, Dr. Tushar Motiwala, a family counsellor at the Kokilaben Dhirubhai Ambani Hospital, founded by Anil Ambani. The couple is blessed with two children, Antara and Karan. Antara, daughter of Tushar Motiwala and Bhavana Motiwala, is the main string that has formed a direct connection between her family and the Kapoors. Antara, daughter of Anil Ambani's sister-in-law, tied the knot to Mohit Marwah in 2018. Mohit Marwah happens to be the son of Sandeep Marwah and Reena Kapoor. While Reema is the sister of Bollywood actor Anil Kapoor. This family bond extends further, as Anil Ambani and Tina Munim share a direct connection with Anil Kapoor's family through their niece Antara's marriage to Mohit Marwah. Antara got married to Mohit on February 20, 2018. They are now proud parents to a baby girl. On August 18, 2021, Antara's family hosted a baby shower celebration in her honor. The event saw the presence of several Bollywood actors such as Rhea Kapoor, Sonam Kapoor Ahuja, Arjun Kapoor, Anshula Kapoor, Shanaya Kapoor, Khushi Kapoor, and Maheep Kapoor. The pictures from the ceremony were widely shared on social media. Rhea Kapoor, Sonam Kapoor Ahuja are daughters of Anil Kapoor.
India.com
4 hours ago
- Business
- India.com
Anil Ambani wins big as NCLAT suspends insolvency order against Reliance Infra after...
Anil Ambani (File) In a major relief for Anil Ambani, the National Company Law Appellate Tribunal (NCLAT) Wednesday suspended an order issued by National Company Law Tribunal (NCLT) to admit Reliance Infrastructure into the Corporate Insolvency Resolution Process (CIRP). 'In the appeal filed, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process,' the Reliance Group company revealed in its regulatory filing. NCLT admits Reliance Infra under CIRP Earlier, acting on a plea filed by IDBI Trusteeship Services Ltd, the NCLT had admitted Reliance Infra under CIRP. The plea stemmed from a dispute over a 2011 Energy Purchase Agreement (EPA) between Reliance Infrastructure and Dhursar Solar Power Pvt Ltd (DSPPL), under which the Anil Ambani-led company had committed to purchase all power generated by DSPPL's solar power plant. In 2012, DSPPL signed a direct agreement with IDBI Trusteeship Services Ltd, designating it as as the holder of DSPPL's claims. DSPPL energy to Reliance Infra between 2017 and 2018, and sent ten invoices to the company. However, after Anil Ambani's fir was unable to pay the dues, IDBI Trusteeship, under the Insolvency and Bankruptcy Code (IBC), issued a demand notice in April 2022, seeking more than Rs 88 crore in unpaid dues. IDBI Trusteeship filed a plea with the NCLT against Reliance Infra, and on May 30, a division bench of judicial member KR Saji Kumar and technical member Sanjiv Dutt said admitted the Anil Ambani-promoted company into CIRP. 'We come to a definite conclusion that the operational creditor (IDBI Trusteeship) has become successful in establishing operational debt due and payable against the CD (corporate debtor) and that the CD (Reliance Infrastructure) is in default,' the NCLT bench said in its order. Meanwhile, Reliance Infrastructure stated that it has already paid the dues in full to DSPPL, and asserts that the plea was time-barred as the invoice dates back to September 2018, adding that the petition was non-maintainable due to its pre-existing dispute with DSPPL.
India.com
5 hours ago
- Business
- India.com
Anil Ambani was once richer than Mukesh Ambani, the Reliance Group boss has a current net worth of Rs...
Anil Ambani was once richer than Mukesh Ambani. (File). Anil Ambani net worth: Anil Ambani does not have the same level of business success to his name as Mukesh Ambani. But did you know that the Anil Ambani– the younger son of Reliance founder Dhirubhai Ambani– was once richer than his illustrious older brother? Let us take a brief look at Anil Ambani's downfall, his recent revival, and his current net worth. What led to Anil Ambani's downfall? Anil Ambani became the owner of key Reliance companies after the infamous split between the two brothers that resulted in splitting the business established by their legendary father. Anil Ambani bagged Reliance Communications (RCom), Reliance Capital, Reliance Energy, and Reliance Natural Resources, while Mukesh Ambani received the group's oil, gas, petrochemicals, refining, and manufacturing businesses. While Anil Ambani-led companies saw a rapid, early success, this honeymoon period did not last long as fortunes began dwindling due a multitude of factors, such as bad investments, cut-throat competition, especially in the telecom sector, and rapidly changing market dynamics. Soon, Reliance Group became heavily indebted, resulting in Anil Ambani declaring bankruptcy while appearing online before a UK court in 2020. Anil Ambani was once wealthier than Mukesh Ambani As per Forbes, Mukesh Ambani is the richest man in Asia today, and the 17th wealthiest globally, with a net worth of $108.1 billion, but there was a time when Anil Ambani was richer than his older brother. During his peak, Anil Ambani was the sixth richest person on the planet with a net worth of $42 billion, wealthier than Mukesh Ambani. The massive jump in Anil Ambani's wealth came after successful listing of Reliance Power, one of the most profitable companies of his Reliance Group at the time. In 2002, the Ambani brothers had a combined net worth of $2.8 billion, which climbed to $6 billion in 2004, and then $7 billion in 2005, before they parted ways and split the family business. Anil Ambani net worth According to various media reports, Anil Ambani has a current net worth pegged at around $530 million, a gargantuan slide from his earlier days when he was among the richest in the world. Anil Ambani making a comeback Recently, the fortunes of Anil Ambani have begun to turn as the embattled businessman's sons– Jai Anmol Ambani and Jai Anshul Ambani– have helped clear debts of several Reliance Group companies, making them debt-free. Last year, Anil Ambani raised Rs 17,600 crore to further reduce the debt burden of his companies. According to media reports, only two listed companies of Anil Ambani's Reliance Group, Reliance Infra and Reliance Power, have managed to become completely debt-free, while most of group's other firms still owe substantial amounts to creditors. Both Reliance Infra and Reliance Power, along with their subsidiaries, started repaying loans in September last year, and are now debt-free, as per reports. Anil Ambani began investing funds into both these companies in August 2024, and funds were raised through Foreign Convertible Currency Bonds (FCCB) and Preferential Issue.
India.com
a day ago
- Business
- India.com
Anil Ambani beats Mukesh Ambani as Reliance Infra becomes first Indian private company to develop..., eyes Rs 100000000000.....
Anil Ambani and Mukesh Ambani- File image In a significant development for India's defence industries, Reliance Infrastructure, under the leadership of Anil Ambani become the first Indian private sector company to design and develop four types of new generation 155mm artillery ammunition. Adding to the development, the Anil Ambani's company is also expecting to receive orders worth Rs 10,000 crore from the Indian Ministry of Defence (MoD) over the next 10 years. Defence exports of Reliance Infrastructure As a part of its export plan, Reliance Infrastructure Ltd, the flagship company of Anil Ambani's Reliance Group, is targeting Rs 3,000 crore from the export of 155 mm ammunition and aggregates by the end of financial year 2027, as per a report by news agency PTI. In the current year itself, the company is estimated to export Rs 1,500 crore of large calibre ammunition. Reliance Infrastructure has already clocked exports of up to Rs 100 crore of artillery ammunition and aggregates and is aiming to be among the top three exporters of defence equipment in India, sources aware of the matter said. In order to fulfill the export order, the Anil Ambani's Reliance Group has been allotted 1,000 acres of land in Watad Industrial Area of Ratnagiri, Maharashtra to develop DADC. The new project of the Anil Ambani group will be the largest greenfield project in the defence sector in India by any private sector company. As per the recent update, the company is setting up an integrated explosives and ammunition manufacturing plant in DADC. Key export market for Reliance Infra The key export market for Reliance includes countries in the European Union, focusing on large restocking demand for artillery ammunition. According to the experts, the market size for restocking is estimated at Rs 4,00,000 crore. As per a report by news agency PTI, a Reliance Infrastructure spokesperson confirmed that the ammunition export is the key priority of the company as it develops Dhirubhai Ambani Defence City (DADC) in Ratnagiri, Maharashtra, with a capital outlay of Rs 5,000 crore. (With inputs from agencies)
India.com
2 days ago
- Business
- India.com
Meet man who was once world's sixth richest, richer than Mukesh Ambani, had Rs 359365053180 net worth, got bankrupt, he is now...
Meet man who was once world's sixth richest, richer than Mukesh Ambani, had Rs 359365053180 net worth, got bankrupt, he is now.... Anil Ambani Shocking Downfall: Dhirubhai Ambani was a visionary man and a person who knows the business. He came Mumbai with just Rs 500 in hand and with that amount he created a business that is recognised in the world. After his demise, Reliance was divided into his two sons – Mukesh Ambani and Anil Ambani due to their dispute. Younger brother Anil Ambani got the Telecom Business, Reliance Capital and Reliance New Energy. Mukesh Ambani got oil and petrochemical business. The story of both the brothers started from here that how one of the brothers become one of the world's richest and another fell to bankruptcy. Anil Ambani And Bankruptcy After the property dispute, Mukesh Ambani and Anil Ambani divided the business. Anil got the profitable businesses of that time and became the sixth richest businessman in the world. Having an asset of USD 42 billion, Anil Ambani fell from heights to ground in a very less years. His wrong decisions, habit of hurrying and lack of understanding of business, became bankrupt. The situation became so critical that he sold his wife's jewellery. Anil Ambani's Biggest Mistake Anil Ambani's business failures stemmed from poor strategic planning and execution. His rapid diversification into risky ventures, coupled with excessive borrowing and a neglect of core business operations, ultimately led to his downfall. He lacked foresight in his investments, choosing ventures with uncertain futures, resulting in significant financial losses.
