As part of a 2008 personnel deal, Singh had been receiving nearly 41 lakh every quarter as pension since May 2009, first from Daiichi and later from Sun Pharma, which acquired Ranbaxy Laboratories from the Japanese firm in 2014 in a share-swap deal.
Nita Ambani, founder and chair of the Reliance Foundation, is likely to be appointed chair of the board when Reliance Industries and Walt Disney merge their India media assets. The deal will strengthen Reliance s hold over India s media and entertainment market.
The announcement by the company comes amid the ongoing probe by market regulator Sebi against its promoters for alleged fund diversion. Last week, the company announced constituting of independent advisory panel to curb erosion of its investor wealth in the wake of speculations leading to negative public opinion of the company.
The "Power Purchase Agreement (PPA) has been signed with Gujarat Urja Vikas Nigam Limited (GUVNL) for 25 years. The cost of construction/development of this project is Rs 642 crore. The project will generate 252.3 million units (MUs) in the first year," it said.
Axis Bank has received approval from the Reserve Bank of India (RBI) to appoint Munish Sharda as its executive director, the company said in a filing on Tuesday.