Thanks to decontrol of auto fuel prices and the reduced threat of a return of rigorous regulations, Reliance Industries and Essar Oil (Rosneft) have fast-tracked the process of strengthening their fuel retail network. These private-sector companies, which currently have a little over 5,550 retail fuel outlets —less than 10% of the total — will together add another 2,500 over the next couple of years.

A Reliance Industries-JM Financial Asset Reconstruction Company combine is the sole bidder for the bankrupt Alok Industries. Sources familiar with the transaction indicated the resolution plan submitted by the team would require lenders to take a fairly big haircut of between 80% and 85%. Against outstandings of close to Rs 30,000 crore, the RIL-JM Financial combine is understood to have agreed to put in Rs 4,000-4,500 crore. However, it could not be confirmed whether the committee of creditors (comprising lenders to the beleaguered company) had taken a decision on the proposal.

Reliance Industries Ltd (RIL) said today that it has bid jointly with JM Financial Asset Reconstruction Company to acquire the debt ridden textile manufacturer Alok Industries.

In a clarification to stock exchanges, RIL said it is awaiting the outcome of the process.

Reliance Industries (RIL) has been asked by the Directorate General of Hydrocarbons (DGH) to relinquish two deep-sea satellite gas discoveries—D6 and D19—in the KG-D6 block, off India’s east coast after the company told the regulator that it had no immediate plan to develop these fields.

The Comptroller and Auditor General of India (CAG) has pulled up the MMRDA for non-recovery of Rs 7.7 billiion dues from Mukesh Ambani-owned Reliance Industries Limited (RIL), India's largest private sector company.

The CAG report, tabled in Maharashtra Legislature today, said Mumbai Metropolitan Region Development Authority is yet to recover Rs 8.55 billion froms RIL and Starlight Systems Private Limited, as lease premium dues on additional built up area allowed to the lessees in Mumbai's Bandra-Kurla Complex.

NEW DELHI: Reliance Industries (RIL) is selling some of the Eagle Ford shale gas project's ‘assets’ in the US for $100 million to Sundance Energy, marking the company's exit from the second shale gas venture as it sharpens focus on telecom.

The acreages and producing wells assets being hived off are located in Atascosa, La Salle, Live Oak and McMullen Counties of Texas and were not slated to be developed in the near term, the company said in a statement on Tuesday. RIL will retain its interest in the remaining core assets of the Eagle Ford project.

Mukesh Ambani, Reliance Industries on Tuesday, announced an agreement to divest its interest in certain acreage, producing wells and related assets in the western portion of its Eagle Ford shale position for a consideration of $100 Million.

LinkedIn, the popular social networking site for business people and professionals, released a report ranking 25 companies in India that are most preferred by professionals as their workplace. The list that is led by India’s Directi. Mukesh Ambani owned Reliance Industries, country’s largest and most valued firm, stands at 24th on this list. The other Indian companies are Flipkart, One97 Communications, Ola, OYO, and MakeMyTrip.

Mumbai: Reliance Industries Ltd (RIL), Essar Oil Ltd, Oil and Natural Gas Corp. Ltd (ONGC) and Torrent Power Ltd are among companies planning to bid for the ninth round of city gas distribution (CGD), two people aware of the matter said. The Petroleum and Natural Gas Regulatory Board (PNGRB) will offer compressed natural gas retailing licences in 100 cities shortly.

The Petroleum and Natural Gas Regulatory Board (PNGRB) will offer compressed natural gas retailing licences in 100 cities shortly.

India’s most valued company in terms of market capitalisation, Reliance Industries started with a meagre Rs 1,000 and just one employee way back in 1966, Mukesh Ambani revealed yesterday. Speaking at the Financial Times ArcelorMittal Boldness in Business Awards, Mukesh Ambani said that his father, Dhirubhai Ambani founded Reliance in 1966 with a dream to build Reliance as a world-class and world-scale Indian business conglomerate.

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