In a first, Anil Ambani threatened with class action suit at AGM

MUMBAI: Massive erosion of wealth due to poor performance leading to frequent rating downgrades has forced irate shareholders of the Anil Ambani Group companies to complain against the management and threaten to file class action suit. Speaking at the AGM of Reliance Power here on Monday, a shareholder even threatened to make history by filing … Read moreIn a first, Anil Ambani threatened with class action suit at AGM

M&A deal activity records 87% plunge in value in May: Report

The merger and acquisition activity recorded an 87 per cent fall in terms of value and a 27 per cent drop in volume last month, due to weakness in the rupee, spike in crude oil prices and indecisiveness among investors until results of the general elections, according to a report. “While the nation was warily … Read moreM&A deal activity records 87% plunge in value in May: Report

Reliance Capital protests downgrade, says will cut debt by 50%

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By Pratik Parija and Anurag Joshi Reliance Capital Ltd., Anil Ambani’s financial services company, protested against a three-step downgrade by Care Ratings that put its credit score two notches above junk. Care Ratings cut the firm’s long-term debt program to BBB from A and kept it on credit watch with developing implications, according to statements … Read moreReliance Capital protests downgrade, says will cut debt by 50%

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