Press Information Bureau

Government of India

Ministry of Corporate Affairs

14-May-2012 17:28 IST

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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Corporate ownership compliance: RIL's indirect holding in a digital media subsidiary is disclosed and stated not to breach Companies Act. RIL has no direct shareholding in print, broadcast or production media companies as of the balance sheet date, while its consolidated statements disclose full ownership of Reliance Digital Media Limited through its subsidiary Reliance Retail Limited; that investment route is stated not to violate the Companies Act, 1956.