Meet Akash Ambani, the new boss of Reliance Jio

News Network
June 28, 2022

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The digital arm of Reliance Industries, Reliance Jio Infocomm Ltd, on Tuesday, June 28, announced that Ambani would resign as the director of the company effective from 27 June.

In a regulatory filing, Reliance Jio said the company's board at a meeting on 27 June, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company."

Among other appointments, Pankaj Mohan Pawar will take over as the Managing Director of the company from 27 June.

Raminder Singh Gujral and KV Chowdary were appointed independent directors.

In 2021, Ambani said that his kids were taking more responsibilities as part of the leadership shift. He said he could see in his children the same spark and potential of his father Dhirubhai Ambani – Reliance’s founder – for contributing to the country's growth.

Few things to know about Akash Ambani

- Akash Ambani, who has graduated from Brown University with a major in Economics, has been closely involved with the disruptive and inclusive growth path charted by the digital services and consumer retail propositions of Reliance group and is now leading the creation of the ‘convergence dividend’ for over 500 million consumers.

- Akash has been closely involved with the creation of the digital ecosystem around Jio’s 4G proposition. He was closely involved with a team of engineers in inventing and launching an India-specs focussed Jiophone in 2017 which became quite a revolutionary device to take many people out of 2G to 4G.

- He personally led the key acquisitions made by Jio in the digital space in the last few years and has also been keenly involved with development of new technologies and capabilities including AI-ML and blockchain.

 Akash was integrally involved in the trailblazing global investments by tech majors and investors in 2020, which in many ways catapulted Jio onto the global investor map.

The Board of Directors have at their meeting held on 27 June, 2022:

(a) approved the appointment of Raminder Singh Gujral and KV Chowdary, as Additional Directors of the Company, designated as Independent Directors for a period of 5 (five) years commencing from 27 June, 2022, subject to approval of the shareholders

(b) approved the appointment of Pankaj Mohan Pawar as Managing Director of the Company for a period of five (5) years commencing from 27 June, 2022, subject to approval of the shareholders

(c) noted the resignation of Mukesh D Ambani as Director of the Company effective from close of working hours on 27 June, 2022

(d) approved the appointment of Akash M Ambani, Non-executive Director as Chairman of the Board of Directors of the Company.

"In accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, we hereby confirm that Raminder Singh Gujral and KV Chowdary are not debarred from holding the office of Director by virtue of any Securities and Exchange Board of India order or any other such authority," the company added.

Established in 2019, Jio Platforms, wholly-owned by RIL, is an Indian technology company.

Shares of Reliance Industries closed at 2,529.00 apieace on BSE, 1.49% higher than yesterday's close. At the NSE, it climbed by 1.50% to settle at ₹2530.00 apiece.

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News Network
November 19,2024

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In the wake of the tragic drowning of three students at a resort near Ullal on the outskirts of Mangaluru city, the tourism department in Dakshina Kannada is set to implement comprehensive safety guidelines for properties with swimming pools or beach access. This initiative aims to ensure guest safety and prevent similar incidents in the future.

New Safety Mandates for Resorts and Homestays

Rashmi S.R., deputy director (in-charge) of the tourism department, announced, “We will instruct all homestays and resorts to enforce precautionary measures, especially those with pools or direct beach access. Properties must ensure 24/7 supervision, particularly during guest hours. This tragedy highlights the importance of having trained personnel on-site.”

Key Safety Guidelines

The district, home to around 150 homestays and 130 resorts, will see the following measures enforced:

  • Clearly displaying pool depths.
  • Installing adequate safety equipment, such as life buoys.
  • Employing trained lifeguards at all times.
  • Establishing clear pool operating hours.
  • Reviewing and implementing standard operating procedures (SOPs) for pool and beach usage.

Booming Beach Tourism Calls for Vigilance

Manohar Shetty, president of the Association for Coastal Tourism (ACT), Udupi, highlighted the growing popularity of beachside resorts, particularly during peak seasons. Properties in Udupi, often fully booked with tourists from Bengaluru, Mysuru, Kodagu, and Shivamogga, face increasing pressure to maintain safety standards.

Udupi district boasts 22 beachside commercial properties catering to this rising demand.

Shetty emphasized, “Authorities must scrutinize safety measures and carefully evaluate guidelines before issuing new resort licenses. Panchayats should rely on the Karnataka Town and Country Planning Act when handling such cases.”

Long-Term Solutions for Water Safety

Recognizing the need for a cultural shift in water safety, Shetty proposed integrating swimming lessons into school curricula. This move would not only equip students with essential skills but also encourage safe participation in water-based activities.

A Safer Tomorrow for Coastal Tourism

As the tourism sector thrives, Mangaluru’s proactive approach underscores its commitment to visitor safety. The tragic incident serves as a wake-up call, propelling the industry towards stricter regulations and better preparedness, ensuring that coastal vacations remain both enjoyable and safe.

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News Network
November 21,2024

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Hamas says the Israeli regime’s sole objective lies in “erasing” the entirety of the Palestinian population from across the Palestinian territories.

Khalil al-Hayya, a ranking official with the Gaza Strip-based Palestinian resistance movement, made the remarks to the Palestinian al-Aqsa TV on Wednesday.

“The occupation targets everyone—it strikes hospitals, civil defense, women, children, and the elderly,” he said, adding that the regime sought to “empty Gaza of its residents, and displace the Palestinian people to fulfill its dreams of building a Zionist Jewish state across all of Palestine.”

The remarks came amid the regime’s October 2023-present war of genocide on the coastal sliver that has so far claimed the lives of nearly 44,000 Palestinians, mostly women and children.

“This unprecedented aggression in modern times evokes scenes from the dark ages of human history, having crossed all red lines and exceeded every expectation of brutality in the modern era,” the Palestinian official lamented.

He also regretted that the regime had added “systematic and dangerous starvation to its aggression, falsely claiming before the world that it allows 250 [aid] trucks into Gaza daily. In reality, the number of trucks is far fewer.”

Hayya, meanwhile, regretted that “scenes of children torn apart, women screaming over their children, and heart-wrenching destruction have failed to stir enough humanity to stop these crimes.”

He decried the United States for vetoing the United Nations Security Council’s resolutions that are aimed at bringing about a potential ceasefire in the war, saying this indicated Washington’s “partnership in the aggression” and a simultaneous siege that the Israeli regime has been enforcing on Gaza.

Addressing Israeli Prime Minister Benjamin Netanyahu, the official asserted that, despite what the Israeli official is after, Hamas would not hand over the regime’s captives “without [the regime’s] stopping the war.”

He called Netanyahu “the main obstacle” in the way of cessation of the aggression, saying the Israeli premier “blocks any progress for political reasons,” and citing his preventing conclusion of a ceasefire agreement in July.

Hayya also warned that the regime sought to expand the war beyond Gaza, but asserted that its goals are “impossible and will never happen.”

“Today, the enemy exposes its true intentions of extermination and displacement, but it will fail,” he stressed.

“The Palestinian people are resilient and will not surrender, as they believe in their humanitarian and political cause. The enemy and its allies will not succeed in achieving their goals. This steadfast people will endure, and the occupation will not prevail against them.”

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News Network
November 15,2024

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Iran’s Islamic Revolution Guards Corps (IRGC) has killed or captured 69 terrorists linked to the Israeli spy agency Mossad during a major counterterrorism drill in the country's southeast, its spokesman says.  

General Ahmad Shafaei, the spokesman for the “Martyrs of Security” drill, said Friday that a total of 23 terrorists have been killed and another 46 arrested in various clean-up operations ever since the IRGC Ground Force launched it in the Sistan and Baluchestan province on November 1.

Seven terrorists have also turned themselves in during the period.

“The undeniable fact about terrorists is that they rely on arrogant powers, particularly the intelligence service of the wicked and vicious Zionist regime," Shafaei said.

“Unfortunately, weapons and munitions at terrorists’ disposal are among the most sophisticated ones in the world. This accounts for their heavy dependence.” 

The official stated that several members of the disbanded terror teams were non-Iranian nationals, who had been hired by foreign intelligence agencies to carry out acts of sabotage and terror inside Iran.

In a most recent operation, six terrorists were arrested and four others were eliminated, three of whom were non-Iranians, he added. 

On October 26, ten members of Iran's law enforcement forces were killed in a terrorist attack in the Gohar Kuh district of Taftan in the Sistan and Baluchestan province.

The so-called Jaish al-Adl terrorist group claimed responsibility for the assault, which was one of the deadliest in the province in recent months.

The group has carried out numerous terrorist attacks in Iran, primarily in Sistan and Baluchestan.

Its tactics include the abduction of border guards as well as targeting civilians and police stations within the province to incite chaos and disorder.

In January, Iran launched a military operation during which the headquarters of the Pakistan-based terrorist group was targeted in missile strikes, destroying its infrastructure.

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