I came across a couple of interesting articles on Reliance Jio (Mukesh Ambani’s $38 billion “start-up”) suggesting that the accounting practices (just like a lot of other things at the Ambani Group) could be dubious. I want to write something on valuation and Indian equity markets since a long time…meanwhile do read this article.

Ambani’s Mobile Startup Packs 6-Month Sales Into a Quarter

It is not clear if it is accounting fraud or just “massaging the numbers” within the permissible accounting rules. But this definitely calls for a closer look at the Reliance Industries performance.

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