Govt says RIL has no shareholding in media firms as of March 31

15 May,2012

By A Correpondent

 

We reproduce a Press Information Bureau communique, without comment:

“As per the Investments Schedule of Balance Sheet of M/s. Reliance Industries Limited (RIL), as on 31/3/2011, there is no direct holding of RIL in media houses/companies (listed and unlisted) print/broadcast/production. However, company’s consolidated Balance Sheet as on 31/03/2011 discloses that it holds 100% in Reliance Digital Media Limited (RDML) through Reliance Retail Limited (RRL), its subsidiary company.

 

“The Investment of M/s. Reliance Industries Limited in M/s Reliance Digital Media Limited through M/s Reliance Retail Limited does not violate the provisions of the Companies Act, 1956.

 

“This information was given by the Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh in the Rajya Sabha today in reply to a written question.”

 

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