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Economics: Only 4 percent Indian companies are prepared against cyber attacks, Reliance invested in Adani's subsidiary

Reliance invested in Adani Energy's subsidiary firm

Reliance Industries Restricted (RIL) has made a serious funding in Mahan Energen Restricted (MEL), a subsidiary of Adani Energy Restricted (APL). Underneath the settlement, RIL has bought 5 crore fairness shares of Rs 10 every in MEL. RIL stated in a submitting that the corporate's proposed funding is in accordance with the provisions of the Electricity Guidelines, 2005. In line with this, RIL has to take 26 p.c stake as a captive consumer.

In a single unit of MEL of 600 MW capability, RIL might be a captive consumer of 500 MW. Reliance Industries Restricted stated that RIL and MEL have entered right into a 20-year energy buy settlement for this objective. MEL, an organization engaged in energy technology and provide, was established on 19 October 2005. As per the audited standalone monetary statements, MEL's turnover for monetary years 2022-23, 2021-22 and 2020-21 was Rs 2,730.68 crore, Rs 1,393.59 crore and Rs 692.03 crore, respectively.

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