The message below was copied from moneycontrol. This is supposed to be a article in latest edition of Business Today and was rewritten by Jasavi on Moneycontrol, Thanks Jasavi for the article.------->
"Dear All ,
ARTICLE TYPED FOR YOU ALL
Thanks , will be apprecaited on the messageboard
After this article and Reliance spokesman confirming it it will be foolish if anyone sells .
Jay
IN THE RIGHT ZONE
Anand Jain is Mukesh's SEZ man . Also a director on the board of group company IPCL , Jain has the mandate of development of Haryana , Jamnagar and 2 Mumbai SEZS . It was Jain who signed the MOU on behalf of Reliance for Haryana and it was he who was involved in acquiring stakes in the Mumbai SEZ from Sea King Infrastructure(SKIL) promoted by Nikhil Gandhi . Today Anand Jain is CMD of SKIL .
Jain has been raising money for these projects through his family run company JAI CORP in which he owns 2 % and his family 88 % . In early 2006 , Jai Corp incorporated two wholly owned subsidiaries , Urban Infrastructre Trustees and Urban Infrastructure Ventures ; the latter through a 7 year closed fund called UIOF in which Reliance Industries has invested Rs. 200 crore.
Unsurprisingly , the stock of Jai Corp which is in the business of steels and plastics has surged from Rs. 112 in Jan 2006 to Rs. 3373 at present. That Urban Infrastructure Ventures and Urban Infrastructure Trustees are no more wholly owned subsidiaries of Jai Corp hasn't made the stock less attractive . Says the Reliance Group spokesperson " The Reliance Group has the controlling stake in these companies" But its Jaicorp's residual stake in these subsidiaries and theserby Ambanis SEZ plans that makes it so alluring to punters .
Also , boarders do read my articles which I write for the personal finance and Insurance section of Dalal Street.
ENJOY and let me know what you think"
JASAVI
THANKS A LOT JASAVI
regards
Jnj