Anil Ambani told the top court that with the failure of its assets sale deal with elder brother Mukesh Ambani-led Reliance Jio his company has entered insolvency proceedings and is not in control of the funds.

Anil Ambani and fellow contemptors were ordered by the apex court to be present at the SC for the proceedings on Wednesday.

RComasks Ericsson to accept Rs 118 crore of the total amount but the company counsel declined to accept the proposal.

Tax relief for startups: Govt may exempt DPIIT-certified startups from angel taxThe government is considering giving complete exemption to startups from angel tax once they are certified by the Commerce and Industry Ministry, a move aimed at helping budding entrepreneurs, official sources said. Various startups have raised concerns on notices sent to them under the Section 56 of Income Tax Act to pay taxes on angel funds received by them. I-T Department unearths Rs 20,000 crore hawala, m...

Union Minister Arun Jaitley says the Congress is casting aspersions on the institution of CAG based on \"falsehood\".

The government holds a 9.56 percent stake in the private sector lender through state-owned Specified Undertaking of the Unit Trust Of India.

Last week, non-banking finance companies, especially L&T Finance and certain entities of Edelweiss Group, sold 31.81 crore pledged shares worth Rs 552.17 crore of Reliance Group, leading to a loss in investor wealth of Rs 13,000 crore.

Edelweiss has claimed that it has \"acted responsibly, not only in safeguarding the interests of its investors but also in ensuring that market integrity is maintained.\"

Reliance Group has accused its lenders L&T Finance and Edelweiss of illegally invoking pledged shares, calling it 'motivated and unwarranted'. Shares of Reliance Power plunged as much as 59 per cent last week.

Anil Ambani's Reliance Group loses Rs 13,000 crore in 4 days; blames L&T Finance, Edelweiss Group for stock fall Anil Ambani-led Reliance Group companies on Friday said that illegal, motivated and unwarranted actions by L&T Finance and Edelweiss group is responsible for nearly 55 per cent drop in market capitalisation in just 4 trading days. On February 1, Reliance Communications had filed for bankruptcy to resolve its debt position. As of March 2017, the company owed banks USD 7...

Meanwhile Reliance Capital's Board of Directors decided to opt for legal measures against L&T Finance in the matter, on grounds of protecting 7 lakh retail shareholders' interests.

The share of promoters in the Reliance ADAG Group companies have decreased in the bracket of 2 to 4 per cent, bringing down promoter stake in Reliance Capital below 50 per cent.

Reliance Group companies lost Rs 13,000 crore, an unprecedented nearly 55%, in market capitalisation over just 4 days, causing substantial losses to 72 lakh institutional and retail shareholders.

The Reliance Infrastructure share price has been falling for the last five days and lost 55.27% during the period. Reliance Infrastructure share is trading below its 50-day and 200-day moving averages of 287.22 and 347.28 levels, respectively.

The company's average revenue per user for the December end quarter was Rs 89; subscriber base declined to 38.72 crore from 42.23 crore in the previous quarter and 43.54 crore in April-June period last year.

However, during the fag-end of the session, the Reliance Communications share price bounced back, rising 0.74 per cent to close at Rs 5.48. On NSE, shares pared early decline and closed at Rs 5.65, up 1.80 per cent.

The Reliance Infrastructure share price has fallen 44.04% during the last four days. It touched a fresh 52-week low of 141.75, down 37.61% on the BSE in trade today. The midcap stock has lost 65.12% during the last one year and fallen 53.25% since the beginning of this year.