Dhirubhai Ambani started Reliance Industries in 1957, it got recognition in the country in 1987, when the company sponsored the Cricket World Cup. After this, Dhirubhai Ambani continued climbing the ladder of success and took Reliance Industries to a new level.
After the death of Dhirubhai Ambani, his business was divided between his two sons Mukesh and Anil, in which Mukesh Ambani is still carrying forward his business like his father, but Dhirubhai’s younger son Anil Ambani is facing problems due to his wrong decisions. Have suffered a lot from. Now gradually Anil Ambani is trying to emerge, but whenever a good news comes for him, a bad news also comes with it. Here we are telling you the reason behind this.
When did Reliance get divided?
The division of Reliance Group started in June 2005 and in 2006 the group company was divided between brothers Mukesh and Anil Ambani. In this, Mukesh Ambani’s share included companies like petrochemicals business, Reliance Industries, Indian Petrol Chemicals Corp Limited, Reliance Petroleum, Reliance Industrial Infrastructure Limited.
Whereas Anil Ambani owned companies like RCom, Reliance Capital, Reliance Energy, Reliance Natural Resources. At the time of partition, people believed that Anil Ambani’s company was a future-oriented company, but due to some wrong decisions of Anil Ambani, he had to face huge losses.
This was good and bad news for Ambani
- Anil Ambani’s company Reliance Power was performing well recently, the company also reduced its debt. But after this, on October 4, Reliance Power’s shares hit a lower circuit of 5 percent and the company’s shares fell. This lower circuit happened due to SEBI banning Anil Ambani from the stock market for five years. In this case, SEBI had also imposed a fine of Rs 25 crore on Anil Ambani. After this, Reliance Power shares rose from Rs 52 to Rs 36.
- In another case, the Securities Appellate Tribunal (SAT) had put a conditional stay on the penalty of Rs 25 crore imposed by SEBI in the case of fund diversion from Reliance Home Finance Limited. A few days later, SEBI imposed a fine of Rs 1 crore on Anil Ambani’s son Jai Anmol Ambani for not taking proper action to approve the corporate loan in the Reliance Home Finance case.
What is Anil Ambani’s mistake?
If we talk about Anil Ambani’s mistakes, a complete list will be ready. Here we are telling you about some of the major mistakes made by him. First of all, immediately after partition, he invested in different sectors to expand his business without any planning. After this, he invested more than necessary in the telecom and power sectors to make himself big, but the returns in both these sectors were very low, due to which he suffered huge losses. Due to investing in different sectors, Anil Ambani could not concentrate completely on any one business. Due to which most of his companies got into debt.
