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RIL puts US lobbying on hold for 3rd quarter

India’s leading corporate house Reliance Industries has kept its lobbying activities among the US lawmakers on hold for third quarter in a row, after having spent over one million dollars to its lobbyist here in past few years.

On the other hand, the Indian government and the country’s software industry body Nasscom have kept up the momentum through their lobbying activities and paid USD 180,000 and USD 100,000, respectively, to their lobbyists during the last quarter ended 30 June  2012.

While Nasscom (National Association of Software and Services Companies) has paid its two lobbyists, BGR and the Lande Group, for lobbying on issues like international technology, immigration, high-skilled visa, workforce and personnel mobility, the Indian government’s lobbying activities were centered on ‘bilateral US-India relationship’.

As per the quarterly lobbying disclosure reports filed with the US Senate, Mukesh Ambani-led Reliance Industries Ltd (RIL) has been one of the major Indian entities lobbying for its cause among the US lawmakers for past few years. However, its lobbyist BGR (Barbour Griffith & Rogers LLC) has reported ‘no activity’ on behalf of RIL for the last three quarters, including in the latest one ended June 30, 2012. BGR remains registered as a lobbyist for RIL in the US.

In the recent past, RIL has expanded its presence in the US and other foreign countries, while the US government’s policies are said to have significant implications for most of the large corporations across the world.

Incidentally, BGR also happens to be the lobbyist for Nasscom and the Indian government. Nasscom is currently lobbying in the US through one more lobbyist, the Lande Group. Lobbying in the government departments and other institutions is a legal activity in the US, but all the registered lobby firms are required to make a disclosure every quarter about the payments received by them, as also the details of their lobbying activities.

BGR began lobbying for RIL in January 2009 and has been paid an estimated USD 1.18 million. On RIL’s behalf, BGR has lobbied with the US Senate, House of Representatives, Department of State and the US Government Accountability Office, among others.


FOREIGN INVESTORS PRESS SELL BUTTON ON RELIANCE STOCKS

Overseas investors have lowered their exposure to the companies from the two Reliance groups with sale of shares worth an estimated Rs 2,000 crore during the last quarter. While FIIs (Foreign Institutional Investors) sold shares worth an estimated Rs 1,500 crore in the two listed companies from Mukesh Ambani-led Reliance Industries group, they also pared their stake in at least four companies from Anil Ambani- led Reliance Group during the quarter ended 30 June 2012.

FIIs lowered their stake in Reliance Industries Ltd (RIL) from 17.55 per cent to 17 per cent, while their holding in Reliance Industrial Infrastructure Ltd (RIIL), the second listed company of Mukesh Ambani-led group, fell from 6.24 per cent to 5.32 per cent.

In the group led by younger Ambani sibling Anil, the FII holding has declined in RCom, Reliance Capital, Reliance Broadcast Network (RBN) and Reliance Media Works (RMW). Two other companies from the group, R-Power and R-Infra, are yet to disclose their latest shareholding pattern.
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