
| Coordinates | 6°7′55″N1°13′22″N |
|---|---|
| name | Gurbaksh Singh Chahal |
| birth date | July 17, 1982 |
| birth place | Tarn Taran Sahib, Punjab |
| residence | San Francisco, California |
| occupation | internet entrepreneur as Chairman & CEO of RadiumOne |
| networth | US$100 million+ |
| religion | Sikhism |
| url | www.chahal.com }} |
Gurbaksh Singh Chahal (born July 17, 1982) is an Indian-American internet entrepreneur and a best-selling author. By the age of 25, he had founded and sold two advertising companies for a total of US$340 million.
On January 12, 2004, Chahal formed BlueLithium. BlueLithium specialized in behavioral targeting of banner advertising (a process that tracks web users' habits online in order to show ads they are most likely to respond to). The advertising network which was recognized as an innovator in the online advertising space in a Business 2.0 article. In 2006, under Chahal's leadership, BlueLithium was named Top Innovator by AlwaysOn.
On October 15, 2007, Yahoo! bought Blue Lithium for $300 million in cash. Chahal remained CEO of the company through the transition period.
In September 2009, Chahal started his third venture, gWallet, an advertising company focused on bringing brands into social media. On December 1, 2009, gWallet raised its first institutional round of financing totaling $12.5 million from Adam Street Partners, Trinity Ventures, Stanford University and various others. On October 18, 2010, a few days after Chahal's non-compete expired, the Company re-branded itself as RadiumOne, and launched an ad network focused on overlaying social and intent data together. On March 2011, RadiumOne announced it had raised another $21 million in financing which valued the Company at $200 million.
Chahal appeared on an episode of the Fox TV reality show ''Secret Millionaire'', where he went undercover in the Tenderloin district of San Francisco to give away at least $110,000 of his own money.
On January 8, 2009, he was featured on ''Extra TV'' as America's Most Eligible Bachelor.
On April 29, 2010, Chahal was awarded the Leaders In Management Award and an Honorary Doctorate degree in Commercial Science from Pace University for his career achievements as an entrepreneur. In April 11, 2011, ''Men's Health'' also recognized him as one of the world's richest and fittest guys.
Category:1982 births Category:Living people Category:American memoirists Category:American Sikhs Category:Indian emigrants to the United States Category:Businesspeople in software Category:American chief executives Category:American computer businesspeople Category:Child businesspeople Category:Dot-com people Category:Innovators Category:People from the San Francisco Bay Area Category:Naturalized citizens of the United States Category:Silicon Valley people Category:American Internet personalities Category:Punjabi people
fr:Gurbaksh ChahalThis text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
| Context | north |
|---|---|
| Hangul | 김정일 |
| Hanja | |
| Rr | Gim Jeong(-)il |
| Mr | Kim Chŏngil }} |
Kim Jong-il's official biography states that he was born in a secret military camp on Baekdu Mountain in Japanese Korea on 16 February 1942. Official biographers claim that his birth at Baekdu Mountain was foretold by a swallow, and heralded by the appearance of a double rainbow over the mountain and a new star in the heavens.
In 1945, Kim was three or four years old (depending on his birth year) when World War II ended and Korea regained independence from Japan. His father returned to Pyongyang that September, and in late November Kim returned to Korea via a Soviet ship, landing at Sonbong (선봉군, also Unggi). The family moved into a former Japanese officer's mansion in Pyongyang, with a garden and pool. Kim Jong-il's brother, "Shura" Kim (the first Kim Jong-il, but known by his Russian nickname), drowned there in 1948. Unconfirmed reports suggest that 5 year old Kim Jong-il might have caused the accident. In 1949, his mother died in childbirth. Unconfirmed reports suggest that his mother might have been shot and left to bleed to death.
Throughout his schooling, Kim was involved in politics. He was active in the Children's Union and the Democratic Youth League (DYL), taking part in study groups of Marxist political theory and other literature. In September 1957 he became vice-chairman of his middle school's DYL branch. He pursued a programme of anti-factionalism and attempted to encourage greater ideological education among his classmates.
Kim is also said to have received English language education at the University of Malta in the early 1970s, on his infrequent holidays in Malta as guest of Prime Minister Dom Mintoff.
The elder Kim had meanwhile remarried and had another son, Kim Pyong-il (named after Kim Jong-il's drowned brother). Since 1988, Kim Pyong-il has served in a series of North Korean embassies in Europe and is currently the North Korean ambassador to Poland. Foreign commentators suspect that Kim Pyong-il was sent to these distant posts by his father in order to avoid a power struggle between his two sons.
At this time Kim assumed the title "Dear Leader" (친애하는 지도자, ''chinaehaneun jidoja'') the government began building a personality cult around him patterned after that of his father, the "Great Leader". Kim Jong-il was regularly hailed by the media as the "fearless leader" and "the great successor to the revolutionary cause". He emerged as the most powerful figure behind his father in North Korea.
On 24 December 1991, Kim was also named supreme commander of the North Korean armed forces. Since the Army is the real foundation of power in North Korea, this was a vital step. Defense Minister Oh Jin-wu, one of Kim Il-sung's most loyal subordinates, engineered Kim Jong-il's acceptance by the Army as the next leader of North Korea, despite his lack of military service. The only other possible leadership candidate, Prime Minister Kim Il (no relation), was removed from his posts in 1976. In 1992, Kim Il-sung publicly stated that his son was in charge of all internal affairs in the Democratic People's Republic.
In 1992, radio broadcasts started referring to him as the "Dear Father", instead of the "Dear Leader", suggesting a promotion. His 50th birthday in February was the occasion for massive celebrations, exceeded only by those for the 80th birthday of Kim Il Sung himself on 15 April.
According to defector Hwang Jang-yop, the North Korean goverment system became even more centralized and autocratic during the 1980s and 1990s under Kim Jong-il than it had been under his father. In one example explained by Hwang, although Kim Il-sung required his ministers to be loyal to him, he nonetheless and frequently sought their advice during decision-making. In contrast, Kim Jong-il demands absolute obedience and agreement from his ministers and party officals with no advice or compromise, and he views any slight deviation from his thinking as a sign of disloyalty. According to Hwang, Kim Jong-il personally directs even minor details of state affairs, such as the size of houses for party secretaries and the delivery of gifts to his subordinates.
By the 1980s, North Korea began to experience severe economic stagnation. Kim Il-sung's policy of ''juche'' (self-reliance) cut the country off from almost all external trade, even with its traditional partners, the Soviet Union and China.
South Korea accused Kim of ordering the 1983 bombing in Rangoon, Burma (now Yangon, Myanmar), which killed 17 visiting South Korean officials, including four cabinet members, and another in 1987 which killed all 115 on board Korean Air Flight 858. A North Korean agent, Kim Hyon Hui, confessed to planting a bomb in the case of the second, saying the operation was ordered by Kim Jong-il personally.
In 1992, Kim Jong-il's voice was broadcast within North Korea for the first time during a military parade for the KPA's 60th year anniversary in Pyongyang's then Central Square (Kim Il-sung Square at present), in which Kim Il-sung attended with Kim Jong-il by his side. After Kim Il-sung's speech, his son approached the microphone at the grandstand and simply said: "Glory to the heroic soldiers of the Korean People's Army!" Everyone in the audience clapped and the parade participants at the square grounds (which included veteran soldiers and officers of the KPA) shouted "ten thousand years" three times after that.
Officially, Kim is part of a triumvirate heading the executive branch of the North Korean government along with Premier Choe Yong-rim and parliament chairman Kim Yong-nam (no relations). Each nominally has powers equivalent to a third of a president's powers in most other presidential systems. Kim Jong-il is commander of the armed forces, Choe Yong-rim heads the government and Kim Yong-nam handles foreign relations. In practice, however, Kim Jong-il exercises absolute control over the government and the country.
Although Kim is not required to stand for popular election to his key offices, he is unanimously elected to the Supreme People's Assembly every five years, representing a military constituency, due to his concurrent capacities as KPA Supreme Commander and Chairman of the DPRK NDC.
In the wake of the devastation of the 1990s, the government began formally approving some activity of small-scale bartering and trade. As observed by Daniel Sneider, associate director for research at the Stanford University Asia-Pacific Research Center, this flirtation with capitalism is "fairly limited, but — especially compared to the past — there are now remarkable markets that create the semblance of a free market system." In 2002, Kim Jong-il declared that "money should be capable of measuring the worth of all commodities." These gestures toward economic reform mirror similar actions taken by China's Deng Xiaoping in the late 1980s and early 90s. During a rare visit in 2006, Kim expressed admiration for China's rapid economic progress.
In 1994, North Korea and the United States signed an Agreed Framework which was designed to freeze and eventually dismantle the North's nuclear weapons program in exchange for aid in producing two power-generating nuclear reactors. In 2002, Kim Jong-il's government admitted to having produced nuclear weapons since the 1994 agreement. Kim's regime argued the secret production was necessary for security purposes — citing the presence of United States-owned nuclear weapons in South Korea and the new tensions with the US under President George W. Bush. On 9 October 2006, North Korea's Korean Central News Agency announced that it had successfully conducted an underground nuclear test.
On 9 September 2008, various sources reported that after he did not show up that day for a military parade celebrating North Korea's 60th anniversary, US intelligence agencies believed Kim might be "gravely ill" after having suffered a stroke. He had last been seen in public a month earlier. A former CIA official said earlier reports of a health crisis were likely to be accurate. North Korean media remained silent on the issue. An Associated Press report said analysts believed Kim had been supporting moderates in the foreign ministry, while North Korea's powerful military was against so-called "Six-Party" negotiations with China, Japan, Russia, South Korea and the United States aimed towards ridding North Korea of nuclear weapons. Some US officials noted that soon after rumours about Kim's health were publicized a month before, North Korea had taken a "tougher line in nuclear negotiations." In late August North Korea's official news agency reported the government would "consider soon a step to restore the nuclear facilities in Yongbyon to their original state as strongly requested by its relevant institutions." Analysts said this meant "the military may have taken the upper hand and that Kim might no longer be wielding absolute authority."
By 10 September there were conflicting reports. Unidentified South Korean government officials said Kim had undergone surgery after suffering a minor stroke and had apparently "intended to attend 9 September event in the afternoon but decided not to because of the aftermath of the surgery." High ranking North Korean official Kim Yong-nam said, "While we wanted to celebrate the 60th anniversary of the country with General Secretary Kim Jong-Il, we celebrated on our own." Song Il-Ho, North Korea's ambassador said, "We see such reports as not only worthless, but rather as a conspiracy plot." Seoul's ''Chosun Ilbo'' newspaper reported that "the South Korean embassy in Beijing had received an intelligence report that Kim collapsed on 22 August." The ''New York Times'' reported Kim was "very ill and most likely suffered a stroke a few weeks ago, but US intelligence authorities do not think his death is imminent." The BBC noted that the North Korean government denied these reports, stating that Kim's health problems were "not serious enough to threaten his life," although they did confirm that he had suffered from a stroke on 15 August.
Japan's Kyodo news agency reported on 14 September that "Kim collapsed on 14 August due to stroke or a cerebral hemorrhage, and that Beijing dispatched five military doctors at the request of Pyongyang. Kim will require a long period of rest and rehabilitation before he fully recovers and has complete command of his limbs again, as with typical stroke victims." Japan's Mainichi Shimbun said Kim occasionally lost consciousness since April. Japan's ''Tokyo Shimbun'' on 15 September added that Kim was staying at the Bongwha State Guest House. He was apparently conscious "but he needs some time to recuperate from the recent stroke, with some parts of his hands and feet paralyzed". It cited Chinese sources which claimed that one cause for the stroke could have been stress brought about by the US delay to remove North Korea from its list of state sponsors of terrorism.
On 19 October, North Korea reportedly ordered its diplomats to stay near their embassies to await “an important message”, according to Japan's Yomiuri Shimbun, setting off renewed speculation about the health of the ailing leader.
By 29 October 2008, reports stated Kim suffered a serious setback and had been taken back to hospital. The New York Times reported that Taro Aso, on 28 October 2008, stated in a parliamentary session that Kim had been hospitalized: "His condition is not so good. However, I don't think he is totally incapable of making decisions." Aso further said a French neurosurgeon was aboard a plane for Beijing, en route to North Korea. Further, Kim Sung-ho, director of South Korea's National Intelligence Service, told lawmakers in a closed parliamentary session in Seoul that "Kim appeared to be recovering quickly enough to start performing his daily duties." The Dong-a Ilbo newspaper reported "a serious problem" with Kim's health. Japan's Fuji Television Network reported that Kim's eldest son, Kim Jong Nam, traveled to Paris to hire a neurosurgeon for his father, and showed footage where the surgeon boarded flight CA121 bound for Pyongyang from Beijing on 24 October. The French weekly ''Le Point'' identified him as Francois-Xavier Roux, neurosurgery director of Paris' Sainte-Anne Hospital, but Roux himself stated he was in Beijing for several days and not North Korea.
On 5 November 2008, the North's Korean Central News Agency published 2 photos showing Kim posing with dozens of Korean People's Army (KPA) soldiers on a visit to military Unit 2200 and sub-unit of Unit 534. Shown with his usual bouffant hairstyle, with his trademark sunglasses and a white winter parka, Kim stood in front of trees with autumn foliage and a red-and-white banner. ''The Times'' questioned the authenticity of at least one of these photos.
In November 2008, Japan's TBS TV network reported that Kim had suffered a second stroke in October, which "affected the movement of his left arm and leg and also his ability to speak." However, South Korea's intelligence agency rejected this report.
In response to the rumors regarding Kim's health and supposed loss of power, in April 2009, North Korea released a video showing Kim visiting factories and other places around the country between November and December 2008. In July 2009, it was reported that Kim may be suffering from pancreatic cancer.
In 2010, documents released by Wikileaks stated that Kim suffers from epilepsy.
On 2 June 2009, it was reported that Kim Jong Il's youngest son, Jong Un, was to be North Korea's next leader. Like his father and grandfather, he has also been given an official sobriquet, The Brilliant Comrade. It has been reported that Kim Jong Il is expected to officially designate the son as his successor in 2012. However, there are reports that if leadership passes to one of the sons, Kim Jong Il's brother-in-law, Chang Sung-taek, could attempt to take power from him.
On 4 August 2009, former US President Bill Clinton met with Kim Jong-il during a "solely private mission to secure the release of Euna Lee and Laura Ling." According to the KCNA, Clinton conveyed a verbal message to Kim from President Barack Obama, a claim denied by the Obama administration. Clinton and Kim had "an exhaustive conversation" that included "a wide-ranging exchange of views on the matters of common concern," KCNA reported. KCNA also reported that the National Defence Commission of North Korea, of which the Dear Leader is the Chairman, hosted a dinner in honor of Clinton, but did not go into detail about what was discussed at the reception. In the early morning hours (UTC+9) of 5 August, KCNA announced that Kim Jong-il had issued a pardon to Lee and Ling.
One point of view is that Kim Jong Il's cult of personality is solely out of respect for Kim Il-sung or out of fear of punishment for failure to pay homage. Media and government sources from outside of North Korea generally support this view, while North Korean government sources say that it is genuine hero worship. The song "No Motherland Without You", sung by the KPA State Merited Choir, was created especially for Kim in 1992 and is frequently broadcasted on the radio and from loudspeakers on the streets of Pyongyang.
Kim's first wife, Kim Young-sook, was the daughter of a high-ranking military official. His father Kim Il-Sung handpicked her to marry his son. They had one son, Kim Jong-nam (born 1971) who is Kim Jong-il's eldest son.
His second mistress, Ko Young-hee, was a Japanese-born ethnic Korean and a dancer. She had taken over the role of First Lady until her death — reportedly of cancer — in 2004. They had two sons, Kim Jong-chul, in 1981, and Kim Jong-un (also "Jong Woon" or "Jong Woong"), in 1983.
Since Ko's death, Kim has been living with Kim Ok, his third mistress, who had served as his personal secretary since the 1980s. She "virtually acts as North Korea's first lady" and frequently accompanies Kim on his visits to military bases and in meetings with visiting foreign dignitaries. She traveled with Kim Jong Il on a secretive trip to China in January 2006, where she was received by Chinese officials as Kim's wife.
Kim Jong-il is also reported to have a younger sister, Kim Kyong-Hui (김경희).
Kim is said to be a huge film fan, owning a collection of more than 20,000 video tapes and DVDs. His reported favorite movie franchises include ''Friday the 13th'', ''Rambo'', ''Godzilla'', and Hong Kong action cinema, and any movie starring Elizabeth Taylor. He is the author of the book ''On the Art of the Cinema''. In 1978, on Kim's orders, South Korean film director Shin Sang-ok and his actress wife Choi Eun-hee were kidnapped in order to build a North Korean film industry. In 2006 he was involved in the production of the Juche-based movie ''Diary of a Girl Student'' – depicting the life of a girl whose parents are scientists – with a KCNA news report stating that Kim "improved its script and guided its production".
Although Kim enjoys many foreign forms of entertainment, according to former bodyguard Lee Young Kuk, he refused to consume any food or drink not produced in North Korea, with the exception of wine from France. His former sushi chef Kenji Fujimoto, however, has stated that Kim has sometimes sent him around the world to purchase a variety of foreign delicacies.
Kim reportedly also enjoys basketball. Former United States Secretary of State Madeleine Albright ended her summit with Kim by presenting him with a basketball signed by NBA legend Michael Jordan. Also an apparent golfer, North Korean state media reports that Kim routinely shoots three or four holes-in-one per round. His official biography also claims Kim has composed six operas and enjoys staging elaborate musicals. Kim also refers to himself as an Internet expert.
US Special Envoy for the Korean Peace Talks, Charles Kartman, who was involved in the 2000 Madeleine Albright summit with Kim, characterised Kim Jong-il as a reasonable man in negotiations, to the point, but with a sense of humor and personally attentive to the people he was hosting. However, psychological evaluations conclude that Kim Jong-il's antisocial features, such as his fearlessness in the face of sanctions and punishment, serve to make negotiations extraordinarily difficult.
The field of psychology has long been fascinated with the personality assessment of dictators, a notion that resulted in an extensive personality evaluation of Kim Jong-il. The report, compiled by Frederick L. Coolidge and Daniel L. Segal (with the assistance of a South Korean psychiatrist considered an expert on Kim Jong-il's behavior), concluded that the “big six” group of personality disorders shared by dictators Adolf Hitler, Joseph Stalin, and Saddam Hussein (sadistic, paranoid, antisocial, narcissistic, schizoid and schizotypal) were also shared by Kim Jong-il—coinciding primarily with the profile of Saddam Hussein. The evaluation also finds that Kim Jong-il appears to pride himself on North Korea's independence, despite the extreme hardships it appears to place on the North Korean people—an attribute appearing to emanate from his antisocial personality pattern. This notion also encourages other cognitive issues, such as self-deception, as subsidiary components to Kim Jong-il's personality. Many of the stories about Kim Jong Il's eccentricities and decadent life-style are exaggerated, possibly circulated by South Korean intelligence to discredit the Northern regime. Defectors claim that Kim has 17 different palaces and residences all over North Korea, including a private resort near Baekdu Mountain, a seaside lodge in the city of Wonsan, and a palace complex northeast of Pyongyang surrounded with multiple fence lines, bunkers and anti-aircraft batteries.
Category:1941 births Category:Living people Category:Alumni of the University of Malta Category:Anti-Revisionists Category:Communist rulers Category:Current national leaders Category:Heads of state of North Korea Category:Leaders of political parties in North Korea Category:Members of the Supreme People's Assembly of North Korea Category:Military brats Category:North Korean billionaires Category:People from Khabarovsk Krai Category:People with epilepsy Category:Stroke survivors Category:Workers' Party of Korea politicians Category:Marxist theorists Category:Kim Il-sung family
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| Coordinates | 6°7′55″N1°13′22″N |
|---|---|
| Name | Mukesh Ambaniमुकेश अंबानी |
| Birth place | Aden, Colony of Aden (now Yemen) |
| Birth date | April 19, 1957 |
| Alma mater | University of BombayStanford University (Dropout) |
| Residence | Mumbai, Maharashtra |
| Nationality | Indian |
| Occupation | Chairman & MD of Reliance Industries |
| Networth | US$27 billion (2011) |
| Spouse | Nita Ambani |
| Religion | Hinduism |
| Relations | Anil Ambani (Brother) |
| Children | Akash, Anant, Isha |
| Website | }} |
Mukesh Dhirubhai Ambani (born on 19 April 1957) is an Indian business magnate. He is the chairman and managing director of Indian conglomerate Reliance Industries, the largest private sector enterprise in India listed in Fortune 500 magazine. His personal stake in Reliance Industries is 48%. On the 17th of August 2011, Reliance Industries Ltd. lost its status as India's most valuable firm. RIL , for long the favourite of Indian investors, was knocked off its four-year perch as the country's most valuable company, as fears over slowing gas production dragged its stock down almost 30% in 2011 and led to the first full day of trade with state owned Coal India on top.
In 2010, he was named among the most powerful people in the world by Forbes in its list of "68 people who matter most" As of 2011, he is the second richest man in Asia and the ninth richest man in the world with a personal wealth of US$27 billion. In 2007, a strong rally in the Indian stock market and the appreciation of the Indian rupee boosted the market capitalisation of Reliance group companies, briefly making him the world’s richest man. According to Forbes Magazine forecasts, he is expected to regain the title of the richest man in the world in 2014.
He is a member of the board of directors of Bank of America Corporation and a present member of the international advisory board of the Council on Foreign Relations.
The Ambani family lived in a two bedroom apartment in Bhuleshwar, Mumbai until the 1970s. Dhirubhai Ambani then purchased a 14-floor apartment block called 'Sea Wind' in Colaba, where, until recently, Mukesh and Anil each lived with their families on different floors.
Mukesh Ambani was educated at Abaay Morischa School in Mumbai and completed his graduation with a bachelor`s degree in chemical engineering from the UDCT, now Institute of Chemical Technology, Mumbai. Mukesh later enrolled for an MBA from Stanford University but completed only one year of the two year program and dropped out in the year 1980. Indira Gandhi administration threw open the doors of PFY (Polyester Filament Yarn) manufacturing to the private sector in early 1980. Dhirubhai Ambani had applied for a licence to setup PFY manufacturing plant. In spite of stiff competition from Tatas, Birlas and 43 others, Dhirubhai was awarded the licence. To help him build the PFY plant, Dhirubhai pulled his eldest son Mukesh out of Stanford where he was studying for his MBA. Mukesh Ambani, then dropped out to help his father and initiated Reliance`s backward integration from textiles into polyester fibres and further into petrochemicals, beginning in 1981.
Anil Ambani is also a billionaire and owns a competing company, Reliance Anil Dhirubhai Ambani Group. The two brothers have had clashes over business. thumb|[[Antilia (building)|Antilia as seen from Altamont Road, Mumbai]].
Ambani set up one of the largest and most complex information and communications technology initiatives in the world in the form of Reliance Infocomm Limited (now Reliance Communications Limited).
Ambani directed and led the creation of the world’s largest grassroots petroleum refinery at Jamnagar, India, with a current capacity of 660,000 barrels per day (33 million tonnes per year) integrated with petrochemicals, power generation, port and related infrastructure.
| ! Year of Award or Honor !! Name of Award or Honor !! Awarding Organization | ||
| 2010 | School of Engineering and Applied Science Dean's Medal | University of Pennsylvania. |
| 2007 | United States-India Business Council Leadership Award | United States-India Business Council. |
| 2007 | Chitralekha Person of the Year Award | Government of Gujarat. |
| 2004 | World Communication Award | Total Telecom. |
London, November 2004: He was Ranked 42nd among the ''World's Most Respected Business Leaders'' and second among the four Indian CEOs featured in a survey conducted by Pricewaterhouse Coopers and published in Financial Times. September 2004: He was Chosen ''Telecom Man of the Year 2004'' by Voice and Data magazine. He is ranked 13th in Asia's Power 25 list of ''The Most Powerful He is a former Chairman of Indian Institute of Management Bangalore(IIM-B). He is a Honorary Fellow of IChemE (the Institution of Chemical Engineers)
Prime Minister Manmohan Singh's government has been accused of providing “''huge''” and “''undue benefit''” to Reliance Industries Ltd – the Comptroller and Auditor General has indicted the Ministry of Petroleum and Natural Gas for allowing “''irregularities and bending rules''” to “''oblige''” RIL in the Krishna Godavari basin gas fields, leading to a massive and as yet “''unquantifiable''” loss to the national exchequer. In its 193-page Draft Report on production sharing contracts (PSCs) in the oil and gas field , the CAG exposes the “''close nexus''” between RIL and the “''bureaucrats''” working in the Petroleum Ministry as well as its Directorate General of Hydrocarbons. This allowed RIL to retain its entire offshore acreage, rather than surrendering those areas where it had not found oil or gas so that the government could invite fresh bids from other companies.
The CAG sent its Draft Report to the Ministry of Petroleum and Natural Gas (MOP&NG) on 8 June 2011. The CAG report also noted that former Directorate General of Hydrocarbons (DGH) permitted Reliance Industries Ltd (RIL) to inflate its development costs on extracting the gas in the D6 block to the KG basin (KG-D6) from USD $2.47 billion to a huge USD $ 8.84 billion. The CAG also cited a joint venture of RIL with British Gas(BG) and Oil and Natural Gas Corporation(ONGC) for hiking development costs in the Panna-Mukta and Tapti gas fields. It has been earlier been alleged that an Empowered Group of Ministers (EGoM) had allowed Reliance Industries Ltd to sell per unit of the gas at a price of INR Rs. 4.20 even as the government companies were selling the same for just INR Rs. 1.20.
The alleged modus operandi was to submit a bid which shows a certain capital cost and during the operation of the contract, inflate the capital cost by a huge amount with the connivance of the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas (MOP&NG).
On 24 June 2011, Reliance Industries Ltd (RIL) chairman Mukesh Ambani met Prime Minister Manmohan Singh amid accusations of his company increasing capital expenditure and violating terms of contracts with the Government of India. Ambani met the PM in the wake of the Draft Report from the Comptroller and Auditor General (CAG) that had alleged that RIL received favours from the Ministry of Petroleum and Directorate General of Hydrocarbons, the regulator for oil hunting companies. RIL had also obtained portions of the CAG Draft Report after it made a request to the Ministry of Petroleum.
On 1 July 2011, Reliance Industries Ltd. fell 4% after the Press Trust of India reported that a federal probe agency (CBI) had registered a case against V.K. Sibal, a former Director General of Hydrocarbons, for allegedly favouring "''leading private players and foreign consultants involved in oil and gas explorations''." Although the agency didn't name any private-sector companies, dealers said that Reliance dropped sharply because of concerns that the company could be one of those allegedly involved.
On 3 July 2011, the CBI proposed that the Ministry of Petroleum and Natural Gas appoint an expert to assist the CBI in understanding transactions surrounding Reliance Industries Ltd's KG-D6 fields, where the company had shown a phenomenal increase in the cost of producing gas. The CBI wanted to understand the arguments offered by Mukesh Ambani's company when it raised the cost of developing Dhirubhai 1 and 3 gas fields in the KG-D6 block from US$2.39billion proposed in 2004 to US$5.196billion in Phase-1 and another US$3.3billion in Phase-II.
They live in a private 27 story building in Mumbai named Antilia. It is estimated to be valued at over US$1 billion to build. It is claimed to be the most expensive home in history.
Category:1957 births Category:Living people Category:Ambani family Category:Indian billionaires Category:Indian businesspeople Category:Indian Hindus Category:Indian Premier League franchise owners Category:Old Foresters Category:People from Gujarat Category:Stanford University alumni Category:University of Mumbai alumni Category:Reliance people
de:Mukesh Ambani es:Mukesh Ambani eo:Mukeŝ Ambani fr:Mukesh Ambani ko:무케시 암바니 hi:मुकेश अंबानी id:Mukesh Ambani it:Mukesh Ambani he:מוקש אמבאני ml:മുകേഷ് അംബാനി my:မာခက်ရှ် အမ်ဘန်နီ ja:ムケシュ・アンバニ pl:Mukesh Ambani pt:Mukesh Ambani ro:Mukesh Ambani ru:Амбани, Мукеш sv:Mukesh Ambani ta:முகேசு அம்பானி te:ముకేష్ అంబానీ uk:Мукеш Амбані vi:Mukesh Ambani zh:穆克什·安巴尼This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
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