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Somesh Ahuja - ArticlesPhysician, heal thyselfEver since a succession battle broke out between the Ambani scions four years ago, Anil Ambani has sought to take the moral high ground. Whether it was the issue of the treasury stock (which came about when Reliance Industries and Reliance Petroleum merged), or the dependent nature of so-called independent directors of RIL, or the opaque structuring of conflict-of-interest deals, Anil Ambani came out with guns blazing, accusing his older brother Mukesh of trying to diddle the shareholders of the Reliance Industries aid to flood-hit in AP: Donates Rs.11.11 crore to CM Relief FundReliance Industries Ltd today came to the aid of the flood-hit people of Andhra Pradesh and donated Rs 11.11 crore (Rupees eleven crore and eleven lakh) to the Chief Minister’s Relief Fund. NTPC Can Save Rs. 100 crore Annually on Account of Cheaper Gas Supply from RIL’s KG D-6State-run NTPC has signed the contract with RIL for supply of 0.61 mmscmd gas from its KG D-6 field at $4.2 per mmbtu price. NTPC has been allocated a total of 2.67 mmscmd of gas from RIL’s prolific KG Basin block. NTPC has signed the contract for gas supply to its Anta CCGT power plant. The delivered cost of gas is expected to be around $6.5 per mmbtu. So far, NTPC has been using RLNG priced at $9 per mmbtu. RIL Asks Centre to Reallocate Gas Refused by NTPC to OthersReliance Industries (RIL) has asked the government to reallocate gas allotted to two power plants of state-owned NTPC after the latter declined to sign final agreement for purchase of fuel. ADAG Firm Blinks; Agrees to Pay Marketing Margin to RILLess than a month after it stopped paying marketing margin to Reliance Industries, Anil Ambani Group firm Reliance Infrastructure has agreed to pay the levy, although under protest, and has asked the Mukesh Ambani firm to resume natural gas supplies to its power plant. ADAG Firm Blinks; Agrees to Pay Marketing Margin to RILLess than a month after it stopped paying marketing margin to Reliance Industries, Anil Ambani Group firm Reliance Infrastructure has agreed to pay the levy, although under protest, and has asked the Mukesh Ambani firm to resume natural gas supplies to its power plant. RIL announces bonus issue of 1:1 Dividend of 130%, Payout of Rs. 2,219 croreThe Board of Directors of Reliance Industries Ltd today proposed, subject to shareholders approval, issue of bonus shares in the ratio of one share for everyshare held in the Company. The Board also proposed interim dividend of Rs 13 per share for the financial year 2008-09. This will result in a payment of Rs. 2,219 crore inclusive of taxes of Rs. 322 crore. Both the bonus shares and dividend will accrue to the shareholders of erstwhile Reliance Petroleum Ltd which has been amalgamated recently with the Company. Reliance Industries: The Success Story ContinuesDhirubhai was a karmayogi. He always believed in karma and his work spoke louder than announcements. He has delivered some of the marvels to Indian industries. Keeping up with his tradition, RIL has implemented several world class projects during last few years. RIL Justifies Levy of Marketing Margin on Gas saleReliance Industries has justified the levy of marketing margin on gas sale saying it was essential to cover risks and costs incurred in marketing of gas. Reliance May Stop Gas Supply to Anil Ambani Company on PaymentsReliance Industries Ltd., India’s most valuable company, issued a notice to suspend gas supplies to Reliance Infrastructure Ltd for defaulting on payments. The notice, issued on Sept. 22, is for gas supplies from the KG-D6 field off the nation’s east coast to Reliance Infrastructure’s power plant in Andhra Pradesh state, Reliance Industries said in an e-mailed statement today.
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