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 12,2024

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Mysuru, Nov 12: Zameer Ahmad Khan, the Tourism and Waqf minister of Karnataka, who stirred a controversy by addressing the Union Minister HD Kumaraswamy as ‘Kaala Kumaraswamy’ has tendered apologies for his remarks.

Speaking to reporters in Mysuru on Tuesday, Minister Zameer stated that he will apologise if remarks have hurt JD-S workers.

“We both are very close. Then, in a total of 24 hours, we were together for 14 hours. He used to fondly address me as “kulla” (shorty) and I used to address him as “kariyanna” (blacky, kaalia),” Minister Zameer stated.

“I am not addressing him as ‘kaalia’ for the first time. I have not said something highly derogatory. It is being made as big in the backdrop of elections. With love, he used to call me a shorty and I called him a blacky. If I had caused pain to anyone by my words I apologise,” he said.

He further stated: “Kumaraswamy had said that he didn’t want the votes of the Muslim community. But now they are attempting to purchase Muslim votes. Against this backdrop, I have made the remark.”

Minister for Home G. Parameshwara stated on Tuesday, “Minister Zameer and Kumaraswamy are close friends. Their comments against each other are not significant.”

Zameer Ahmad Khan, the Tourism and Waqf minister of Karnataka stirred a controversy on Monday as he addressed the Union Minister as ‘Kaala Kumaraswamy’.

JD-S on Tuesday demanded a public apology and resignation of Minister for Waqf and Tourism Zameer Ahmad Khan over his ‘racist’ remarks.

“Remember, there is no place here for your divisive policies. You have insulted the people by making ethnic, racist and discriminatory statements. You should apologize to the people of the state and resign,” the JD (S) demanded in the post.

Union Parliamentary Affairs and Minister for Minority Affairs Kiren Rijiju reacted sternly to the racist jibe and stated, “I strongly deplore Congress Minister Zameer Ahmed calling Union Minister and former Chief Minister of Karnataka Kumaraswamy as 'Kaalia Kumaraswamy'.

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News Network
November 13,2024

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New Delhi: The Supreme Court took a firm stance on ‘bulldozer justice’ today, affirming that the Executive cannot bypass the Judiciary and that the legal process must not prejudge the guilt of an accused. In a significant judgment, the bench led by Justices BR Gavai and KV Viswanathan set new guidelines for demolition practices, responding to petitions challenging the controversial bulldozer actions taken against individuals accused of crimes.

The rise of this practice, termed 'bulldozer justice,' has seen authorities in various states demolish what they claim to be illegal structures belonging to accused individuals. However, multiple petitions questioned the legality and fairness of this approach, bringing the matter before the court.

Justice Gavai highlighted that owning a home is a cherished goal for many families, and an essential question was whether the Executive should have the authority to strip individuals of their shelter. “In a democracy, the rule of law protects citizens from arbitrary actions by the state. The criminal justice system must not assume guilt,” stated the bench, underscoring that due process is a fundamental right under the Constitution.

On the principle of separation of powers, the bench reinforced that the Judiciary alone holds adjudicatory powers and that the Executive cannot overstep these boundaries. Justice Gavai remarked, “When the state demolishes a home purely because its resident is accused of a crime, it violates the doctrine of separation of powers.”

The court issued a strong warning about accountability, stating that public officials who misuse their power or act arbitrarily must face consequences. Justice Gavai observed that selectively demolishing one property while ignoring similar cases suggests that the aim might be to penalize rather than enforce legality. “For most citizens, a house is the product of years of labor and dreams. Taking it away must be an action of last resort, thoroughly justified,” he said.

In its directives under Article 142 of the Constitution, the Supreme Court established new demolition guidelines. These include:

Mandatory Show-Cause Notice: No demolition should occur without first issuing a show-cause notice. The person served has a minimum of 15 days or the duration stated in local laws to respond.

Transparency of Notice Content: The notice must include specifics about the alleged unauthorized construction, the nature of the violation, and the rationale for demolition.

Hearing and Final Order: Authorities are required to hear the response of the affected individual before issuing a final order. The homeowner will have 15 days to address the issue, with demolition proceeding only if no stay order is obtained from an appellate authority.

Contempt Proceedings: Any breach of these guidelines would lead to contempt proceedings. Officials who disregard these norms will be personally accountable for restitution, with costs deducted from their salaries.

Additionally, the court mandated that all municipal bodies establish digital portals within three months, displaying show-cause notices and final orders on unauthorized structures to ensure public transparency and accountability.

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News Network
November 22,2024

Mangaluru: A man fell victim to an online scam, losing Rs 1.7 crore after fraudsters posed as officials from TRAI. According to a complaint filed at the CEN police station, the incident began on November 11, when the complainant received a call from an unknown number at 9:49 am.

The caller, claiming to represent TRAI, alleged that another mobile number registered under the complainant's name was involved in illegal activities in Andheri (East), Mumbai. The caller further stated that an FIR was lodged against the complainant for harassment under the guise of marketing. He was instructed to contact Andheri (East) police station immediately or risk his mobile service being deactivated within two hours.

The complainant was subsequently connected to an individual named Pradeep Sawant, who claimed the complainant was implicated in a money laundering scheme linked to the Naresh Goyal fraud case. Sawant alleged that a fraudulent bank account under the complainant's name was opened at Canara Bank, Andheri, and used to purchase a SIM card for illegal activities. He warned that the complainant could face arrest.

Later, the complainant was contacted via WhatsApp video call by individuals posing as Rahul Kumar (a police officer) and Akanksha (a CBI officer). They allegedly sent fabricated CBI documents to his WhatsApp number. The fraudsters demanded money to "resolve" the case. Fearing threats, the complainant allegedly transferred Rs 1.7 crore through RTGS in batches of Rs 53 lakh, Rs 74 lakh, and Rs 44 lakh between November 13 and 19. A case has been registered at the CEN police station and an investigation is ongoing.

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