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Defence Bet & Rafael Scam With two companies in the defence sector, Reliance Defence Ltd. and Reliance Naval & Engineering Ltd, Anil Ambani bought Pipavav Defense which already had a debt of Rs. 7.000 crores. Pipavav Defense soon went bankrupt and then came in the Rafael scam. Anil Ambani was sought to have gained the biggest chunk in Rs. 58,000 crore deal. At the same time, Anil Ambani’s company financed a French Film in which the former French President Hollande’s then-partner had acted in.
Exit Strategy With Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Home Finance performing poorly, Reliance Capital was most affected by the 2008 financial crisis. Anil exited the mutual fund business by selling its entire stake in Reliance Nippon Life Asset Management Ltd for 6,000 crores reducing 33% of Reliance Capital’s debt but Anil’s other companies were also defaulting on loans.
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FROM THE EDITOR

FROM THE EDITOR

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The King of Good Times - Vijay Mallya

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Interview with Bhamini Puri
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Paris Hilton - The self-made Heiress

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