ril

Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries , in terms of annual salaries running into crores of rupees for the latest fiscal. These include JSW Energy's Sajjan Jindal, Hindustan Construction's Ajit Gulabchand, Raymond's Gautam Hari Singhania, ICICI Bank's Chanda Kochhar, Axis Bank's Shikha Sharma, as also Infosys' S Gopalakrishnan and S D Shibulal. Full Article

Defing an oil ministry directive, Reliance Industries has refused to sell natural gas to power and fertiliser plants by cutting supplies to non priority sectors like steel and refineries saying the move has financial and legal implications. With output from Reliance's eastern offshore KG-D6 fields dropping by over 20 per cent, a worried oil ministry had asked Reliance to first meet all the contracted demand of fertiliser units, plants extracting LPG from natural gas, po.. Full Article

The government’s plan to offer tax incentives based on investments made by companies is expected to attract big overseas investments in the next round of bidding for oil and gas blocks. The investment-linked tax concessions proposed in the Direct Tax Full Article

In what could be a severe blow to Anil Ambani group seeking cheap gas from elder brother Mukesh- led RIL, the Supreme Court on Friday ruled that government has the last word on pricing and utilisation of national asset. Full Article

The finance ministry has rebuffed the petroleum ministry's recent proposal to give income tax breaks to entities producing natural gas under exploration permits given during the first seven rounds of Nelp (national exploration licensing policy). Explorers like ONGC, RIL and Essar were hoping to book tax-free profits from those blocks. Full Article