धीरूभाई अंबानी

Dhirjalal heeralal Ambani (28 December 1933-6 July 2002) which is also known as dhirubhai) India become wealthy from a patchwork of business Tycoon who established reliance industries is the story of the Mumbai with his cousin. Many Ambani unprecedented/ Essential to the development of capitalism and the ruling noted politicians consider their access as they had behaved very oppressive in the business environment the achievement was obtained by. (License Raj Indians pressed. By the 1990s, Indian politicians to strangle businesses and those who paid the license were no chances of their favored the competition not leave). Ambani's company reliance in its public sector and included in 1977 by 2007 family (sons Anil and Mukesh) was 100 billion dollars, accepting donation details ambaniyon one of the world's wealthiest families.

Corporation

Dhirubhai Ambani returned from Yemen to India and started "Majin" in partnership with Champaklal Damani, his second cousin,^[8] who lived with him in Turkey . Majin was to import polyester yarn and export spices to Yemen.^[9] The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in Masjid Bunder. It was a 350 sq ft (33 m²) room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business. During this period, Ambani and his family stayed in a two-bedroom apartment at the Jai Hind Estate in Bhuleshwar, Mumbai.^[9] In 1965, Champaklal Damani and Dhirubhai Ambani ended their partnership and Ambani started on his own. It is believed that both had different temperaments and a different take on how to conduct business.^{[citation needed]} While Damani was a cautious trader and did not believe in building yarn inventories, Ambani was a known risk-taker and believed in building inventories to increase profit.

Ambani's control over stock exchange

Extensive marketing of the brand in the interiors of India made it a household name. Franchise retail outlets were started and they used to sell "only Vimal" brand of textiles. In the year 1975, a Technical team from the World Bank visited the Reliance Textiles' Manufacturing unit.
In 1982, Reliance Industries came up against a rights issue regarding partly convertible debentures.^[10] It was rumored that the company was making all efforts to ensure that their stock prices did not slide an inch. Sensing an opportunity, The Bear Cartel, a group of stock brokers from Calcutta, started to short sell the shares of Reliance. To counter this, a group of stock brokers until recently referred to as "Friends of Reliance" started to buy the short sold shares of Reliance Industries on the Bombay Stock Exchange.
The Bear Cartel was acting on the belief that the Bulls would be short of cash to complete the transactions and would be ready for settlement under the "Badla" trading system operative in the Bombay Stock Exchange. The bulls kept buying and a price of ₹ 152 per share was maintained until the day of settlement. On the day of settlement, the Bear Cartel was taken aback when the Bulls demanded a physical delivery of shares. To complete the transaction, the much money was provided to the stock brokers who had bought shares of Reliance, by Dhirubhai Ambani. In the case of non-settlement, the Bulls demanded an Unbadla, or penalty sum, of ₹ 35 per share. With this, the demand increased and the shares of Reliance shot above ₹ 180 in minutes. The settlement caused an enormous uproar in the market.^{[citation needed]}
To find a solution to this situation, the Bombay Stock Exchange was closed for three business days. Authorities from the Bombay Stock Exchange (BSE) intervened in the matter and brought down the "Unbadla" rate to ₹ 2 with a stipulation that the Bear Cartel had to deliver the shares within the next few days. The Bear Cartel bought shares of Reliance from the market at higher price levels and it was also learnt that Dhirubhai Ambani himself supplied those shares to the Bear Cartel and earned a healthy profit out of The Bear Cartel's adventure.^[11]
After this incident, many questions were raised by his detractors and the press. Not many people were able to understand as to how a yarn trader until a few years ago was able to get in such a huge amount of cash flow during a crisis period. The answer to this was provided by the then finance minister, Pranab Mukherjee in the Parliament. He informed the house that a Non-Resident Indian had invested up to ₹ 220 million in Reliance during 1982–83. These investments were routed through many companies like Crocodile, Lota and Fiasco. These companies were primarily registered in Isle of Man. The interesting factor was that all the promoters or owners of these companies had a common surname Shah. An investigation by the Reserve Bank of India in the incident did not find any unethical or illegal acts or transactions committed by Reliance or its promoters.^[12]