CURRENT AFFAIRS

Detailed explanation-1: -The Adani Group in 2017 had acquired Reliance Infra’s (then Reliance Energy) Mumbai power business including generation, distribution and transmission, in a Rs 18, 800-crore deal.

Detailed explanation-2: -Gautam Adani-led Adani Group and Mukesh Ambani’s Reliance Industries have reportedly entered into an agreement of not hiring talents from each other. According to a Business Insider report, the no-poaching agreement has come into effect from May this year and will be applicable to all their group companies.

Detailed explanation-3: -The Adani group entered power distribution in Mumbai suburbs four years ago with the Rs 18, 000-crore acquisition of the beleaguered Anil Ambani Group-run Reliance Energy. Adani group is also building the over Rs 15, 000-crore Navi Mumbai International Airport which is expected to start operations in few years.

Detailed explanation-4: -Adani Group enters into a no-poaching pact with Mukesh Ambani led Reliance Industries. A no-poaching agreement will prevent employees of both groups from joining each other. Legal eagles say no law prevents conglomerates from entering into such pacts. Pact will prevent a talent war in media and new energy businesses.