Apparently, Reliance Big Entertainment is very well known in India. It's subsidiary company, Zapak Digital Entertainment, owns the largest online gaming portal in the country as well. This gaming-specific company will be the one in charge of overseeing the investment in UK-based Codemasters.
As to what this could mean for MMO gamers in the EU, we'll have to wait and see. Perhaps Reliance/Zapak will see fit to close the gap in differences from the Turbine-controlled version of Lord of the Rings Online. Or perhaps this new company will finally roll the Codemasters version of Dungeons and Dragons Online over to the same free-to-play model that has been such a huge success for Turbine in the States. No matter what, this is going to be interesting to watch.