Word: mukesh
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...Hollywood film script, Survival International fingers a villain: a London-based mining company called Vedanta Resources that is controlled by billionaire businessman Anil Agarwal. Vedanta's aluminum subsidiary plans to invest $2.5 billion to extract some 78 million tons of bauxite from the Niyamgiri mountain. Its chief operating officer, Mukesh Kumar, insists that the mine will benefit the Dongria - the company will set aside 5% of the mine's pretax profits for a local development agency - and that it has followed all the relevant Indian laws. "Whatever we do, we do in a transparent manner," he says. Yet the Dongria...
AHMEDABAD, India – In early September, the Indian Supreme Court is expected to rule on a gas-agreement dispute brought forth by India’s third richest industrialist, Anil Ambani—against India’s richest, Ambani’s own brother, Mukesh. The two businessmen now independently run what was once India’s largest industrial conglomerate, Reliance Industries, divided between the quarreling heirs after the death of the family and company patriarch, Dhirubhai Ambani. In a country ostensibly rooted in deep extended-family relations, the partitioning of Reliance and the Ambani family?...
...troubled marriage with Paramount, ensure its independence and still make six or so movies a year. Meanwhile, Reliance, which runs huge telecommunications and financial services businesses in India (and shouldn't be confused with Reliance Industries Ltd., another massive conglomerate owned by Anil Ambani's even richer brother Mukesh), gets an entry into Hollywood and some of the biggest names in the business. "If they [Reliance] identify a particular segment as high-growth they go all-out for it," says Smita Jha, an analyst at PricewaterhouseCoopers (PWC). "This has as much to do with the way Reliance does business...
...Seebeck's not kidding about heavy hitters. Among the franchisees is Reliance Industries chairman Mukesh Ambani, the world's 14th richest man, with an estimated net worth of $20.1 billion. Not quite as wealthy but rather more flamboyant is Vijay Mallya, known for throwing lavish parties in his home city of Bangalore and for his co-ownership of the Force India Formula One team. The enterprise's big guns aren't fooling: "We want the IPL to be one of the icon brands in the world," says IPL chairman Lalit Modi, "and we are going to push everything that...
...face of growing opposition, India's retail heavyweights are digging in. "We stand committed to what we have set out to achieve," Mukesh Ambani, chairperson and managing director of Reliance Industries, told shareholders at the annual general meeting last week, adding that resistance to big retail would abate once benefits begin to show. Another conglomerate, the $4.5 billion Mahindra Group, announced plans to enter the organized retail fray on the same day as the Mumbai protest. India's government, in a possible attempt to placate its leftist partners, has commissioned a study on the impact of organized retail on small...