investments by Mukesh Dhirubhai Ambani
Please see the details of investments by Mukesh Dhirubhai Ambani in last three years and particulars and details of each investments can be spplied by: milap_choraria@yahoo.com on request.
The financial irregularities in Satyam Computer Services Limited, due to which investor's confidence has been badly shaken, will pale into insignificance in contrast to the scale of irregularities perpetuated in Reliance Industries Limited (RIL), India's largest private sector company.
RIL's Chairman and Managing Director, Mr. Mukesh Ambani, richest Indian in the world today, has invested about Rs. 570 billion (USD 12 billion), that too over a span of only two years, resulting in increase in his personal shareholding to 51%. Over the last 2 years, Mr. Mukesh Ambani has increased his shareholding in RIL by: v Purchase of 410 million RIL shares from various unrelated entities for Rs. 328 billion (USD 7 billion); v Purchase of 60 million RIL shares through stock exchanges for Rs. 50 billion (USD 1 billion); and v Acquisition of 120 million RIL shares through preferential allotment for Rs. 170 billion (USD 4 billion).
Apart from above, Mr. Mukesh Ambani has also invested in: v Reliance Gas Transportation Infrastructure Limited - Rs. 7 billion i.e.
USD 150 million; v Reliance Life Sciences Private Limited - Rs. 15 billion i.e. USD 300 million; and v Reliance Petroleum Limited - Rs. 4.5 billion i.e. USD 100 million. Thus, Mr. Mukesh Ambani has in last 2 years invested an astonishing sum of Rs. 570 billion (USD 12 billion), while Mr. Ambani has received only Rs. 500 million (USD 11 million) as salary and commission from RIL, and dividend of Rs. 750 million (USD 16 million) from his shareholding in RIL in past 2 years.
As required by Indian regulations, the above purchase of RIL shares by Mr. Ambani has been fully disclosed to Indian stock exchanges and is publicly available; the copies of the disclosures can be spplied by milap_choraria@yahoo.com on reqest. Further it is interesting to note that Mr. Mukesh Ambani has not sold any of his equity holding in RIL, as there is no disclosure to SEBI and stock exchanges, in fact it has only increased.
*The fundamental question therefore is how Mr. Mukesh Ambani has financed his investments of over Rs. 570 billion (USD 12 billion) without having any publicly-known source of income.*
Insiders know that all these funds have been illegally siphoned off from RIL, through a complex maze of private companies, and he has used these siphoned funds to acquire RIL shares and to meet his other investment commitments. If this is not the case where has the money come from?
The above fraud of gargantuan proportions will be revealed and unraveled soon! It is understood that Indian governmental agencies are aware of these transactions and it is only a matter of time that formal investigations will commence. A former Indian defense minister, and leader of one of the India's prominent political party, has written to the Prime Minister and urged him to direct investigations into the affairs of Mr. Mukesh Ambani and RIL
Current Real News
7 years ago
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