hailgautam
Youngling
Stick said:OK I agree with you all but please do not put Dhirubhai in this controversy, in his life he never cheat to any one (on record). Even he didn't allow his FAMILY MEMBER to Celebrate anything using company fund.
People have faith on Dhirubhai and still they think that Reliance run same as it used to in navigation of Dhirbahi. And that's why still Reliance brand is one of the Number one in India.
You are free to Talk everything about 2 bros as they are .....
There is a Section in Income Tax Act 1961, By name Section 80IA - It provides for the deduction on Income from the business of Refining of Petroleum Oil @ 100% for a period of 7 years. (that is you do not pay tax for your huge profits for 7 years - Man! refining margins are quite high, all the loss is in distribution).
The section came into force on the 1st October 1998. In Novermber 1998 Reliance's Jamnager plant started operating. That is the level of "Pohunch" (Reach) of Reliance. They can bend the rules if it does not suit them.
There are so many instances including Corporate Governance under clause 49, of SEBI guidelines. But it will all be Greek for you so I will not discuss.