Ambani dream house stands on shaky ground

Is the Maharashtra government dillydallying on ordering a CBI inquiry into the issue of the alleged illegal sale of Waqf land to industrialist Mukesh Ambani for his 27- storey ultra luxury home that is worth nearly $ 2 billion? The state government had received a letter from the Union government in June, asking it to consider ' referring' the matter to the premier investigating agency to probe the land deal. The state has, however, not taken any decision on the matter yet.

The land deal on Mumbai's posh Altamount Road has been embroiled in a controversy ever since Ambani began building his multistorey residence Antillia. On Monday, the issue was raised in the state assembly by Opposition leader Eknath Khadse.

He said the Rs 500- crore plot was shown to have been sold by the Karimbhai Ibrahimbhai Khoja Charitable Trust for just Rs 21 crore. The piece of land was originally reserved for educating children of the Khoja Muslim community.

Maharashtra's minority affairs minister Arif Nassim Khan said the state had received a letter from the Centre and had sought the opinion of the law and judiciary department.

" The legal department conveyed its opinion to the state home department on July 25," Khan said. But he did not reveal what the law department's stand was.

Khan further said a notice was served to the trust by the Maharashtra government in 2004 over the transaction. It was, however, withdrawn after the state got ` 16 lakh from the trust to regularise the deal.

Maharashtra home minister R. R. Patil said he would comment on the matter only after seeing the opinion given by the law and judiciary department.

This Waqf land deal has sparked rows earlier, too. In 2007, then minority affairs minister Anish Ahmed had mentioned a number of irregularities in the sale of the land and had asked the Maharashtra State Waqf Board to take back the plot. However, in a curious development, while the minister kept claiming the sale was illegal, then chief minister Vilasrao Deshmukh said there were no irregularities in the deal.

Incidentally, Ambani has still not started living in Antillia.

Latest News

  • Deflation new challenge for India: Arvind Subramanian

    New Delhi, Sep 3 (IANS) India's economy faces a new challenge in deflation chief economic advisor Arvind Subramanian said on Wednesday, after GDP data earlier this week showed lower first quarter growth. "One real challenge that looms ahead appears not to be the price inflation but the possible price deflation," Subramanian told reporters here. India's annual inflation rate based on wholesale prices continued in the negative territory in June, falling to (-)2.4 percent from (-)2.36 percent …

  • Tech stock leads Wall Street higher as China fears ebb
    Tech stock leads Wall Street higher as China fears ebb

    U.S. stocks rose more than 1 percent to near session highs on Wednesday afternoon as technology stocks led a rebound from Tuesday's steep losses and as China's move to again support its financial markets eased investor concerns. Apple and Microsoft were up about 3 percent and gave the biggest boost to the S&P 500 and the Nasdaq. The airlines index rose 2.9 percent, on track for its best day in a week, as oil prices remained pressured. …

  • Karnataka beckons British firms to invest in state

    Bengaluru, Sep 2 (IANS) Karnataka on Wednesday exhorted British firms to invest in the state, saying it was committed to ensure ease of doing business. "Britain should have more research and development (R&D) centres in our state, especially in Bengaluru, which is a knowledge capital," state Industries Minister R.V. Deshpande said at a interactive session here with British deputy high commissioner Ian Felton and officials of British firms operating in the state. Observing that Karnataka had a …

  • Piaggio launches two 150cc scooters in India

    Mumbai, Sep 2 (IANS) Italian two-wheeler company Piaggio on Wednesday unveiled its 150cc Vespa range of scooters for India. The new scooters - SXL and VXL - come in two engine variants - 150 cc 3 valve ... …

  • Land Rover launches Discovery Sport in India

    Mumbai, Sep 2 (IANS) Land Rover on Wednesday launched Discovery Sport - the new addition to the Discovery family of vehicles in India with prices starting from Rs.46.10 lakh. "The Discovery Sport, an exceptional combination of technology, design, off-road and on-road capability, charts a new territory which will be tough for its peers to enter into," Rohit Suri, president of Jaguar Land Rover India, said in a statement. …

  • Government approves nine PPP projects for road sector

    New Delhi, Sep 2 (IANS) The government on Wednesday said it has already approved nine public private partnership (PPP) projects to increase investments in road infrastructure. Information on the new PPP projects was announced by union Minister of Road Transport and Highways Nitin Gadkari while addressing the 55th SIAM (Society of Indian Automobile Manufacturers) annual convention being held here. Other key government officials also participated in the event. …

  • Mahindra & Mahindra sees weaker vehicles sales in rural areas
    Mahindra & Mahindra sees weaker vehicles sales in rural areas

    Automaker Mahindra & Mahindra Ltd (MAHM.NS) sees industry sales including that of its vehicles in rural areas weakening because of deficient monsoon rains in parts of the country, a top company official told reporters on Wednesday. India's economy is dependent on agriculture and relies heavily on the monsoon to irrigate the majority of its farmland. Low rainfall affects incomes and sentiment in rural areas. …

  • Oppo eyes India opportunity, to partner with Foxconn

    New Delhi, Sep 2 (IANS) Chinese handset-maker Oppo on Wednesday said it was in talks with electronics assembly manufacturer Foxconn to start an assembly line for its smartphones in the Sri City plant special economic zone in Andhra Pradesh. "We are right now in talks with Foxconn to start an assembly line at the Sri City plant though we are undecided on the models and production capability of the line right now," Mike Wang, the newly-appointed India chief executive of Oppo, told IANS. He also …



  • Most Actives
    Most Actives
    NamePriceChange% Chg
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg


Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
to view quotes in your portfolios.