Mukesh Ambani is Billionaire as people know but what about his debts striking Indian economy? Yes, Reliance Industries’ debt is about $43 Billion during the end of 2019.
Reliance Industries further wanted to sell a minimal stake with their oil to chemical division to Saudi Aramco. The deal is gathering a lot of impetus in recent weeks according to a report published in foreign news paper.
Saudi Aramco officials including bankers are keen over the deal and have been working at Reliance’s office in Mumbai. It’s another way for the Mukesh Ambani company to get out of debts but the business tycoon seems to be looting India.
All Indian news agencies and news channels are afraid to release reports about Mukesh Ambani lest they would be sued. Further, Indian media already sold to BJP as they keep hiding about Mukesh Ambani’s looting. Bloomberg news exposed Mukesh Ambani early this year for his deal with Aramco.
Mukesh Ambani to win a deal with Saudi Aramco
Billionaire Mukesh Ambani is all set to sign an agreement prior to the next annual shareholders meeting. The shareholders meeting will take place at the end of September, 2020. However, Reliance already valued oil to chemicals division including its debt to about $75 Billion. This will be at about 20 per cent stake. Aramco company knows not that the deal will be the biggest and could be not so beneficial for it.
BJP govt in December requested the Court to stop the proposed sale to help ensure Reliance company have enough assets. Reliance company of Mukesh Ambani has been selling their assets from mobile phone towers to fuel retail business. Thus, BJP is supporting the company with Indian tax payers’ money as the company’s debts increased.
Aramco is deliberating and in another words thinking lot to make a deal with Reliance company. However, the deal will definitely help Reliance company and we wish positively over Reliance company’s benefits to Indians. If the deal happens to be a success for Reliance then there would be further loss of jobs in India. This is the concern for every Indian.
Disclaimer: This post written as per latest reports from the people. No journalist or reporter is involved to create this post whatsoever. Foreign media helped us to write this article. We are not responsible for any outcome of the news post that will trouble Mukesh Ambani. All the news channels avoid talking about Reliance Company as it has been supported by the govt. We’re nowhere near to Saudi Aramco or Reliance Company to claim that this post exposes what’s not required to.
