Vibrant Gujarat Summit: Reliance announces Rs 1 lakh cr investment

January 11, 2015

Gandhinagar, Jan 11: Reliance Industries Chairman Mukesh Ambani today announced Rs 100,000 crore investment across businesses in the next 12-18 months and said India was on the path to become the world's fastest growing economy.

Reliance

The investments will be in expanding petrochemical production capacity as well as in launch the much-awaited 4G broadband services while contributing to Make in India and Digital India initiatives.

Ambani, the world's richest energy billionaire, speaking at the 7th Vibrant Gujarat Summit here, said Prime Minister Narendra Modi's clarion call for boosting domestic manufacturing and job creation through Make in India campaign and Digital India initiative "have energised India and its enterprises".

"We will invest over Rs 100,000 crore in the next 12-18 months in contributing to the Make-In-India and Digital India initiatives," he said at the Summit inauguration function that was attended by Modi as well as top captains of industry and world leaders.

Ambani said as part of the investment programme, RIL will partner and enable thousands of small businesses and Gujarati entrepreneurs to create virtuous cycle of prosperity.

"India is marching forward with a clear vision to emerge as global power even when as most of the world is struggling with low growth.

"India can chart a path under our Prime Minister in the next few years to really become the fastest growing economy in the world. A goal that is possible to achieve," he said.

RIL is investing in raising polyester capacity by some 60 per cent in aggregate across four locations, a new 1.5 million tonnes refinery off-gas based petrochemical cracker and downstream units in Jamnagar, enhancing refining profitability via petcoke (petroleum coke) gasification and reducing feedstock costs for petrochem by importing cheap US ethane.

Ambani said he has attended all Vibrant Gujarat Summits and called Modi "a world leader the India is very proud of".

Gujarat, he said, leads the country in achieving the Millennium Development Goals (MDGs) target.

"Reliance has been an inseparable part of Gujarat's success story. Over the last three decades we have invested again and again to convert a business vision into a reality," he said, calling upon fellow industrialists to follow the firm's example.

Stating that Reliance was determined to give back to Gujarat more and more, he said, "All of us will have to work in the spirit of partnership".

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August 6,2020

New Delhi Aug 6: In a new twist in the Vijay Mallya case, a certain document connected with the case in the Supreme Court has gone missing from the apex court files. 

A bench comprising Justices U.U. Lalit and Ashok Bhushan adjourned the hearing to August 20.

It was hearing the review plea filed by Mallya against a July 14, 2017 judgment wherein he was found guilty of contempt for not paying Rs 9,000 crore dues to banks despite repeated directions, although he had transferred $40 million to his children.

The bench was looking for a reply on an intervention application, which it seemed has gone missing from the case papers.Parties involved in the case sought more time to file fresh copies.

On June 19, the Supreme Court sought explanation from its registry regarding Mallya's appeal against the May 2017 conviction in the contempt case for not repaying Rs 9,000 crore dues to banks not listed for the last 3 years.

A bench comprising Justices Lalit and Bhushan had asked the Registry to furnish all the details including names of the officials who had dealt with the file concerning the Review Petition for last three years.

The bench said according to the record, placed before it, the review petition was not listed before the court for last three years. "Before we deal with the submissions raised in the Review Petition, we direct the Registry to explain why the Review Petition was not listed before the concerned Court for last three years," said the bench.In May 2017, the apex court held him guilty of contempt of court for transferring $40 million to his children, and ordered him to appear on July 10 to argue on the quantum of punishment.

The bench said let the explanation be furnished within two weeks. "The Review Petition shall, thereafter, be considered on merits," it added.In 2017, the apex court passed the order on a contempt petition against Mallya by a consortium of banks led by the SBI. 

The banks claimed Mallya transferred $40 million from Daigeo to his children's accounts, and did not use this money to clear his debt. Banks cited this as violation of judicial orders.

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August 3,2020

Indore, Aug 3: In a bizarre development, the Indore Bench of the Madhya Pradesh High Court has granted bail to an accused in a sexual harassment case on the condition that he will request the victim to tie a ‘rakhi’ on him with a promise to protect her “to the best of his ability for all times to come”.

Justice Rohit Arya on July 30 also ordered the man to pay Rs 11,000 to the complainant as a “customary ritual usually offered by brothers to sisters” on Raksha Bandhan and seek her blessings while visiting her with his wife and a box of sweets. “The applicant shall also tender Rs 5,000 to the son of the complainant for purchase of clothes and sweets,” the order said.

The court directed the accused to take photographs and receipts of payment made to the victim and her son, which should be filed through his lawyer for placing on record of the case before the Registry.

The victim, a resident of Ujjain district, had alleged that her neighbour, Vikram Bagri, entered her house and sexually harassed her on April 20. The police registered a case under Sections 452 (House-trespass after preparation for hurt, assault or wrongful restraint), 354 (A) (Sexual harassment and punishment for sexual harassment), 354 (Assault or criminal force to woman with intent to outrage her modesty), 323 (Punishment for voluntarily causing hurt) and 506 (Punishment for criminal intimidation) of the Indian Penal Code.

The order said the man, in jail for more than two months, was released on bail, on furnishing a personal bond of Rs 50,000 with “one solvent surety in the like amount to the satisfaction of the trial court, on the condition that he shall remain present before the court concerned during trial,” and comply with conditions under Section 437 (3) of CrPC, along with other conditions.

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February 10,2020

Hyderabad, Feb 10: All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi continued his tirade against PM Modi and Amit Shah against Citizenship Amendment Act (CAA), National Population Register (NPR) and National Register of Citizens (NRC). "We are ready to take bullets in our chests but we will not show our papers.

We are ready to take bullets in our chests as we love our country," Owaisi said further.

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