It switched shares sent for transfer by buyers to make illegal profits. Its clients are primarily pharmaceutical, biotechnology and medical device companies. However, the entire block was declared as a Reliance industry area and RIL was allowed to retain it.
Younger brother Anil Ambani received telecom, power, entertainment and financial services business of the group. It has indulged in insider trading in shares. It has commissioned facilities like the supervisory control Reliance industry data acquisition system and the cathodic protection system, a jackwell at River Tapi, and a raw water pipeline system at Hazira.
Five main allegations concerning Reliance, and which have plunged the Indian capital markets into a period of uncertainty unsurpassed since the days of the securities scam were: The pipeline carries petroleum products including naphtha and kerosene.
It was established in Relicord is a cord blood banking service owned by Reliance Life Sciences. The in-place volume of natural gas was in excess of 7 trillion cubic feet, equivalent to about 1. After suffering a heart attack inhe handed over the daily operations of the company to his sons Mukesh Ambani and Anil Ambani.
After the death of Dhirubhai Ambani inthe management of the company was taken up by both the brothers. It also found misuse of FII regulations.
The company held its Initial public offering IPO in By the end of Januarythe company had bought back Brokerage also did not maintain clear segregation between broking and other activities of group companies.
This would be accompanied by increasing the staff strength in Retail division from existing strength of 35, toin next 3 years and increasing employees in Telecom division from existing 3, to 10, in 12 months. Inafter a bitter public feud between the brothers over the control of the Reliance empire, mother Kokilaben intervened to broker a deal splitting the RIL group business into the two parts.
The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing.
The Sebi inquiry cited 20 irregularities, including the brokerage not informing clients about various charges at the time of opening accounts. The Sebi inquiry also said RSL collected higher securities transaction tax from its clients inallotted more than one terminal in the same segment for a single user, and also collected cheques in the name of Reliance Money.
It offers a range of products based on solar energy: Reliance issued fake shares. Reliance Telecom was booked under the Prevention of Corruption Act, The existing shareholders in RIL, both the promoter group and non-promoters, received shares in the de-merged companies.
Inthe partnership ended and Dhirubhai continued the polyester business of the firm. Brokerage was found to have received funds from other client bank accounts other than the ones available to it, thus failing to have a sound third-party check on the receipt of payments.
Employees As on 31 Marchthe company had 23, employees of which 1, were women and 83 were employees with disabilities. It attempted to monopolise the private telecom services market through front companies.
Init became the first private sector company in India to be rated by international credit rating agencies. It established a synthetic fabrics mill in the same year at Naroda in Gujarat.
In Marchit had stores in India. Brokerage, not fully equipped to handle its customer base at the time, used the name Reliance Money at all its offices and on employee visiting cards, instead of Reliance Securities, which was the registered trading member, leading to confusion.
SEBI probed transactions by entities that participated in and led to some three months of speculative rally after which the RPL stock surged to an all-time intraday high of Rs on 1 November This was the first ever discovery by an Indian private sector company. Chargesheet also mentioned criminal offences with dishonest intention and causing wrongful loss totaling Rs RSL had failed to update client details despite the stock exchanges pointing this out in their inspection reports.
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