In June 2011, at Reliance Industries’ (RIL’s) 37th annual general meeting (AGM), Chairman and Managing Director Mukesh Ambani had told shareholders that RIL would be a “debt-free” company.
Ten months later, RIL was virtually debt-free on a net-cash basis at the consolidated level, after considering its cash and bank balances as well as investments. With its capital expenditure plan nearly completed, India's most valuable company is once again in a position in which it will start reducing debt. “RIL was debt-free some years ...
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First Published: Mon, January 15 2018. 03:11 IST
