12 April, 2021

It's All Money For The Honey

It now looks like the gravy train did pass it on. Reliance men too picked up some.

It's All Money For The Honey
A note is now being circulated. It has vague details about firms that are allegedly owned by Mukesh Ambani's loyalists and advisors—Anand Jain, director, Reliance Infocomm, and Manoj Modi, director, Reliance Infocomm. What's interesting about this clutch of firms is that they make huge sums through direct business links with RIL and other group companies. It's become so dirty that the sheet contains details of how relatives and family members of the trio have been absorbed by Reliance.

One of the firms mentioned in the note is Jai Corp Ltd. Outlook's investigations prove that it's owned by Anand Jain's family; its executive chairman is his father J.K. Jain, and the MD is his brother S.P. Jain. Another brother Virendra is a director and so is SP's son, Gaurav. Importantly, Jai Corp supplies woven sacks to Reliance. "So, what is wrong? Jai Corp is one of the country's leading exporters of woven sacks and it does small business with Reliance too. And the bulk of its turnover comes from...

Latest Magazine

April 19, 2021

other articles from the issue

articles from the previous issue

Other magazine section