Labour law

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Labour law (also known as labor law or employment law) mediates the relationship
between workers, employing entities, trade unions and the government. Collective
labour law relates to the tripartite relationship between employee, employer and
union. Individual labour law concerns employees' rights at work also through the
contract for work. Employment standards are social norms (in some cases also
technical standards) for the minimum socially acceptable conditions under which
employees or contractors are allowed to work. Government agencies (such as the
former US Employment Standards Administration) enforce labour law (legislature,
regulatory, or judicial).
2001 onwards
In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two
largest companies in terms of all major financial parameters.[22] In 2001�02,
Reliance Petroleum was merged with Reliance Industries.[17]

In 2002, Reliance announced India's biggest gas discovery (at the Krishna Godavari
basin) in nearly three decades and one of the largest gas discoveries in the world
during 2002. The in-place volume of natural gas was in excess of 7 trillion cubic
feet, equivalent to about 1.2 billion barrels of crude oil. This was the first ever
discovery by an Indian private sector company.[17][23]

In 2002�03, RIL purchased a majority stake in Indian Petrochemicals Corporation

Ltd. (IPCL), India's second largest petrochemicals company, from the government of
India,[24] RIL took over IPCL's Vadodara Plants and renamed it as Vadodara
Manufacturing Division (VMD).[25][26] IPCL was later merged with RIL in 2008.[27]
[28]

In 2005 and 2006, the company reorganized its business by demerging its investments
in power generation and distribution, financial services and telecommunication
services into four separate entities.[29]

In 2006, Reliance entered the organised retail market in India[30] with the launch
of its retail store format under the brand name of 'Reliance Fresh'.[31][32] By the
end of 2008, Reliance retail had close to 600 stores across 57 cities in India.[17]

In November 2009, Reliance Industries issued 1:1 bonus shares to its shareholders.

In 2010, Reliance entered the broadband services market with acquisition of Infotel
Broadband Services Limited, which was the only successful bidder for pan-India
fourth-generation (4G) spectrum auction held by the government of India.[33][34]

In the same year, Reliance and BP announced a partnership in the oil and gas
business. BP took a 30 per cent stake in 23 oil and gas production sharing
contracts that Reliance operates in India, including the KG-D6 block for $7.2
billion.[35] Reliance also formed a 50:50 joint venture with BP for sourcing and
marketing of gas in India.[36]

In 2017, RIL set up a joint venture with Russian Company Sibur for setting up a
Butyl rubber plant in Jamnagar, Gujarat, to be operational by 2018.[37]

Shareholding

Chairman and MD: Mukesh Ambani

The number of shares of RIL are approx. 3.1 billion.[38] The promoter group, Ambani
family, holds approx. 46.32% of the total shares whereas the remaining 53.68%
shares are held by public shareholders, including FII and corporate bodies.[38]
Life Insurance Corporation of India is the largest non-promoter investor in the
company, with 7.98% shareholding.[39]

In January 2012, the company announced a buyback programme to buy a maximum of 120
million shares for ?104 billion (US$1.5 billion). By the end of January 2013, the
company had bought back 46.2 million shares for ?33.66 billion (US$470 million).
[40]

Listing
The company's equity shares are listed on the National Stock Exchange of India
Limited (NSE) and the BSE Limited. The Global Depository Receipts (GDRs) issued by
the Company are listed on Luxembourg Stock Exchange.[41][42] It has issued approx.
56 million GDRs wherein each GDR is equivalent to two equity shares of the company.
Approximately 3.46% of its total shares are listed on Luxembourg Stock Exchange.
[38]

Its debt securities are listed at the Wholesale Debt Market (WDM) Segment of the
National Stock Exchange of India Limited (NSE).[43]

It has received domestic credit ratings of AAA from CRISIL (S&P subsidiary) and
Fitch. Moody's and S&P have provided investment grade ratings for international
debt of the company, as Baa2 positive outlook (local currency issuer rating) and
BBB+ outlook respectively.[44][45][46] On the 28th of December, 2017, RIL announced
that it will be acquiring the wireless assets of Anil Ambani-led Reliance
Communications for about ?23,000 crores.[47]

Contents
1 History
1.1 Child labour
1.2 Working conditions
2 Individual labour law
2.1 Employment terms
2.2 Minimum wage
2.3 Living wage
2.4 Hours
2.5 Health and safety
2.6 Discrimination
2.7 Dismissal
2.8 Child labour
3 Collective labour law
3.1 Trade unions
3.2 Workplace participation
3.3 Information and consultation
3.4 Collective bargaining
3.5 Collective action
4 International labour law
4.1 International Labour Organization
4.2 Work in multiple countries
4.3 EU law
5 National labour laws
5.1 Australia
5.2 Canada
5.3 China
5.4 France
5.5 India
5.6 Iran
5.7 Israel
5.8 Japan
5.9 Mexico
5.10 Sweden
5.11 Switzerland
5.12 United Kingdom
5.13 United States
5.14 Halakhah (Jewish religious law)
6 See also
7 Notes
8 References
9 Further reading
10 External links