Click this link www.rel.co.in and see what happens ...
Also, here is the link for the official announcement on the REL website here:
http://www.rel.co.in/newsmedia/pdf/REL_now_Reliance_Infrastructure.pdf
Hahaha.... Sorry, but I can't stop laughing .. one of the biggest groups in the country - and THIS is the 'sneaky' way in which they announce their name change!
Saturday, July 12, 2008
REL becomes REL INFRA becomes REL POWER ??
OK .. so we all know that Reliance Energy first moved some of its Power Generation projects to Reliance Power (much to the 'disgust' of REL's shareholders).
Then it changed its name from Reliance Energy to Reliance Infrastructure.
Now, it seems (as per this news item from The Hindu) that the 'electricity' business of (erstwhile) Reliance Energy .. has gone to Reliance Power ???
..and all this while our own MERC fiddles a la Nero ...while we burn (the candles...)
Then it changed its name from Reliance Energy to Reliance Infrastructure.
Now, it seems (as per this news item from The Hindu) that the 'electricity' business of (erstwhile) Reliance Energy .. has gone to Reliance Power ???
..and all this while our own MERC fiddles a la Nero ...while we burn (the candles...)
REL's name change and what it means to you...
REL applied for a change of name .. to Reliance Infrastructure .. now here's the fun ..
As we all know (via RTI) that the Electricity Distribution License for Mumbai Suburbs belongs
to 'Bombay Suburban Electricity Supply Company Limited' ...
... whose name was changed to 'BSES Limited' and 'Transfer of license' was not even applied for!
... and then the company was taken over by Reliance (undivided) group and again, no Transfer was applied.
... and then the company was 'allocated' to Anil Ambani Group and again, no transfer was applied.
... and then the name was changed to Reliance Energy Ltd and again, no transfer was applied for. In fact this time MERC tells the public that no transfer is required in a name change and tries to convince the people that Companies Act 'overrides' the Electricity Act (when it reality it DOES NOT)
... and now the name is changed to Reliance Infrastructure and do you think they have applied for a Transfer ?? Keep guessing !! More on that later ...
Anyway, the other point is that everytime a name change is effected, there needs to be a major change in the 'Objects' of the company - meaning the new company may now, not really be strictly an 'electricity' company - making it even more difficult for MERC (or anyone else) to figure out the accounts and the profitability of the electricity business .. so how are we going to determine tariff ??
The spineless MERC has still not been able to get REL to submit a separate P&L (and Balance Sheet) for the Mumbai Electricity business .. so consumers will again be taken for a ride.
On one hand REL is declaring one successful Quarter after another .. with upward spiralling profits .. and on the other hand it is trying to tell MERC that it is suffering a loss on account of higher Purchase Cost .. and therefore it needs to RAISE tariff !!
How long are you going to buy this story ??
Chew on it .. as you pay higher bills this summer....
As we all know (via RTI) that the Electricity Distribution License for Mumbai Suburbs belongs
to 'Bombay Suburban Electricity Supply Company Limited' ...
... whose name was changed to 'BSES Limited' and 'Transfer of license' was not even applied for!
... and then the company was taken over by Reliance (undivided) group and again, no Transfer was applied.
... and then the company was 'allocated' to Anil Ambani Group and again, no transfer was applied.
... and then the name was changed to Reliance Energy Ltd and again, no transfer was applied for. In fact this time MERC tells the public that no transfer is required in a name change and tries to convince the people that Companies Act 'overrides' the Electricity Act (when it reality it DOES NOT)
... and now the name is changed to Reliance Infrastructure and do you think they have applied for a Transfer ?? Keep guessing !! More on that later ...
Anyway, the other point is that everytime a name change is effected, there needs to be a major change in the 'Objects' of the company - meaning the new company may now, not really be strictly an 'electricity' company - making it even more difficult for MERC (or anyone else) to figure out the accounts and the profitability of the electricity business .. so how are we going to determine tariff ??
The spineless MERC has still not been able to get REL to submit a separate P&L (and Balance Sheet) for the Mumbai Electricity business .. so consumers will again be taken for a ride.
On one hand REL is declaring one successful Quarter after another .. with upward spiralling profits .. and on the other hand it is trying to tell MERC that it is suffering a loss on account of higher Purchase Cost .. and therefore it needs to RAISE tariff !!
How long are you going to buy this story ??
Chew on it .. as you pay higher bills this summer....
Power companies make merry..
Power companies have been telling us for quite some time that they are running up losses .. at least that's what REL has always been trying to tell us.
Consequently, they keep raising the rates on account of the so-called higher purchase costs.
And now read this...
If you've noticed .. all such news is reserved for the 'stock market' oriented sites .. and the general press gets the dreary news about rising costs .. doomsday situation ... raising tariff .. etc ...
Consequently, they keep raising the rates on account of the so-called higher purchase costs.
And now read this...
If you've noticed .. all such news is reserved for the 'stock market' oriented sites .. and the general press gets the dreary news about rising costs .. doomsday situation ... raising tariff .. etc ...
R-ADAG's BIG TV (DTH) to offer special rates to REL users ...
Here's a news item that's really interesting.
First R-ADAG takes away BIG chunks of your money .... then they give you handouts .... and makes it look like a BIG deal!
(all Puns .. intended, of course !) ..
Read this here...
Incidentally, no one seems to be speaking of the fact that the original DTH license given to R-ADAG, was actually under Reliance Energy! I had mentioned this in one of my earlier posts..
Shouldn't REL shareholders be miffed at the entire business being 'surreptitiously' being moved to Reliance Entertainment (or is it Reliance Capital??)
First R-ADAG takes away BIG chunks of your money .... then they give you handouts .... and makes it look like a BIG deal!
(all Puns .. intended, of course !) ..
Read this here...
Incidentally, no one seems to be speaking of the fact that the original DTH license given to R-ADAG, was actually under Reliance Energy! I had mentioned this in one of my earlier posts..
Shouldn't REL shareholders be miffed at the entire business being 'surreptitiously' being moved to Reliance Entertainment (or is it Reliance Capital??)
MERC Case NO. 6 of 2008 - Open letter to MERC
29.4.2008
The Secretary,
MERC
Dear Sir,
This is with reference to Petition filed by M/s Reliance Energy Limited in Case No. 6 of 2008 - a hearing for which has been scheduled on 30.4.2008.
We understand that this Petition has invoked section 23 of the EA 2003 which has a great implication on consumers all over Mumbai city (http://www.mercindia.org.in/Events_Notices/Events_APR_08/Evt_H_30_04_08_1100_06_of_2008.pdf)
This matter is also of great public interest, involving scope, jurisdiction and regulatory powers of MERC - eventually resulting in an impact on tariff.
This tariff impact will affect the general public and, as such, all concerned consumers should be given an opportunity to have their say and therefore a public hearing, with due process, should be held. I am therefore, surprised that this is being heard by MERC without involving the general public.
I trust you will call for a formal general public hearing, to keep the interest of the general public in mind - and will look out for a formal announcement to this effect.
Thank you.
Warm regards,
Sandeep N. Ohri
===============================
Tamasoma jyotirgamaya...
From darkness unto light ...
===============================
Tamasoma jyotirgamaya...
From darkness unto light ...
===============================
Sent in the interest of the public good, without prejudice.
Sent in the interest of the public good, without prejudice.
Wednesday, March 12, 2008
REL changes its name to Reliance Infrastructure
Don't know how many of you saw the small news item .. but our good friends at REL have decided on another name change!
So now the Mumbai Distribution License which didn't get formally transfered to BSES Ltd .. and then which didn't get formally transfered to REL .. will now (I guess) also NOT get formally
transfered to Reliance Infrastructure... the juggernaut rolls on .. and no one has the gumption to stop it!
Given below are the various news items.
Incidentally, they transfered their entire Infrastructure business to a 100% subsidiary sometime in Oct 2007 .. and now they have decided that the parent company itself should become infrastructure oriented??
If you recall, I had mentioned that one day REL may actually exit the Mumbai electricity distribution business .. well, their focus has definitely shifted ..
Who knows .. they may be monitoring this site more closely than we think ;)
---------
http://www.thehindubusinessline.com/2008/03/11/stories/2008031152520300.htm
http://www.business-standard.com/common/news_article.php?leftnm=press&autono=316\
312
http://economictimes.indiatimes.com/News/News_By_Industry/Energy/Rel_Energy_to_b\
e_renamed_Reliance_Infrastructure/articleshow/2853132.cms
http://www.moneycontrol.com/india/news/business/relianceenergyinfrastructurebusi\
ness/relboardapprovestransferinfrabizto100subsidiary/market/stocks/article/31051\
0
(this last link mentions the transfer to a 100% subsidiary)
---------
So now the Mumbai Distribution License which didn't get formally transfered to BSES Ltd .. and then which didn't get formally transfered to REL .. will now (I guess) also NOT get formally
transfered to Reliance Infrastructure... the juggernaut rolls on .. and no one has the gumption to stop it!
Given below are the various news items.
Incidentally, they transfered their entire Infrastructure business to a 100% subsidiary sometime in Oct 2007 .. and now they have decided that the parent company itself should become infrastructure oriented??
If you recall, I had mentioned that one day REL may actually exit the Mumbai electricity distribution business .. well, their focus has definitely shifted ..
Who knows .. they may be monitoring this site more closely than we think ;)
---------
http://www.thehindubusinessline.com/2008/03/11/stories/2008031152520300.htm
http://www.business-standard.com/common/news_article.php?leftnm=press&autono=316\
312
http://economictimes.indiatimes.com/News/News_By_Industry/Energy/Rel_Energy_to_b\
e_renamed_Reliance_Infrastructure/articleshow/2853132.cms
http://www.moneycontrol.com/india/news/business/relianceenergyinfrastructurebusi\
ness/relboardapprovestransferinfrabizto100subsidiary/market/stocks/article/31051\
0
(this last link mentions the transfer to a 100% subsidiary)
---------
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