Reliance Industries will hold a meeting of the Board of Directors of the Company on 22 January 2021.

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The petition for the same will be filed by the company's subsidiary Reliance Jio Infocomm (RJIL) in the Punjab and Haryana High Court today (4 January 2021).

These acts of violence have endangered the lives of thousands of its employees and caused damage and disruption to the vital communications infrastructure, sales and service outlets run by its subsidiaries in the two states,” the conglomerate said in a statement.

The company further said that the miscreants indulging in vandalism have been instigated and aided by vested interests and our business rivals. Taking advantage of the ongoing farmers' agitation near the national capital, these vested interests have launched an incessant, malicious and motivated vilification campaign against Reliance, which has absolutely no basis in truth.

Reliance has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them. As such, the sole nefarious purpose of linking the name of Reliance to these laws is to harm our businesses and damage our reputation,” it added.

The conglomerate said that Reliance Retail (RRL), Reliance Jio Infocomm (RJIL), or any other affiliate of RIL has not done any “corporate” or “contract” farming in the past, and has absolutely no plans to enter this business.

It further said that neither Reliance nor any of our subsidiaries has purchased any agricultural land, directly or indirectly, in Punjab/Haryana or anywhere else in India, for the purpose of “corporate” or “contract” farming and added that the company has absolutely no plans to do so.

Reliance Retail does not purchase any food grains directly from farmers. It has never entered into long-term procurement contracts to gain unfair advantage over farmers or sought that its suppliers buy from farmers at less than remunerative prices, nor will it ever do so.

Reliance and its affiliates are committed to doing everything to enrich and empower Indian farmers.

RIL, through its Petition in the High Court, has sought punitive and deterrent action against miscreants and vested interests, so that Reliance can run all its businesses smoothly in Punjab and Haryana once again.

RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

RIL's consolidated net profit fell 6.6% to Rs 10,602 crore on 25.5% decline in net sales to Rs 1,11,236 crore in Q2 September 2020 over Q2 September 2019.

The scrip gained 0.13% to Rs 1987.15 on Friday. It traded in the range of 1982.30 and 1997.30 during the day.

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The case pertains to sale and purchase of Reliance Petroleum (RPL) shares in the cash and the futures segments in November 2007. This followed RIL's decision in March 2007 to sell 4.1% stake in RPL, a listed subsidiary that was later merged with RIL in 2009.

The Sebi, in a statement, observed that RIL had entered into a well-planned operation with its Agents to corner the open interest in the RPL Futures and to earn undue profits from the sale of RPL shares in both cash & futures segments and to dump large number of RPL shares in the cash segment during the last ten minutes of trading on the settlement day resulting in a fall in the settlement price.

It also observed that Mukesh Ambani, being the chairman & managing director of RIL, was responsible for its day-to-day affairs and thereby, liable for the manipulative trading done by RIL.

Further, the market regulator observed that Navi Mumbai SEZ and Mumbai SEZ had allegedly aided and abetted RIL by providing funds to one of the agents appointed by RIL, who in turn provided funds to other 11 agents for making the margin payments for the short positions in RPL November Futures.

Consequently, Sebi imposed a penalty of Rs 25 crore on RIL, Rs 15 crore on Mukesh Ambani, Rs 20 crore on Navi Mumbai SEZ and Rs 10 crore on Mumbai SEZ.

RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

RIL's consolidated net profit fell 6.6% to Rs 10,602 crore on 25.5% decline in net sales to Rs 1,11,236 crore in Q2 September 2020 over Q2 September 2019.

The scrip gained 0.13% to Rs 1987.15 on Friday. It traded in the range of 1982.30 and 1997.30 during the day.

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As per directions of the Telecom Regulatory Authority of India (TRAI), Bill and Keep regime is being implemented in the country from 1 January 2021, thereby ending interconnect usage charges (IUC) for all domestic voice calls.

Reliance Jio Infocomm (Jio) will make all off-net domestic voice calls free, starting 1 January 2021. On-net domestic voice calls have always been free on the Jio network.

In September 2019, when TRAI extended the timeline for implementation of the Bill & Keep regime beyond 1 January 2020, Jio was left with no option but to start charging its customers for off-net voice calls, at a rate exactly equivalent to the applicable IUC charge. While doing so, Jio had assured its users that this charge would continue only till the time TRAI abolished IUC charges.

RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

RIL's consolidated net profit fell 6.6% to Rs 10,602 crore on 25.5% decline in net sales to Rs 1,11,236 crore in Q2 September 2020 over Q2 September 2019.

The scrip rose 0.02% to Rs 1995.85. It traded in the range of 1984 and 2011 so far during the day.

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