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Regular-article-logo Wednesday, 25 June 2025

Anil makes light of Sebi bar

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OUR SPECIAL CORRESPONDENT Published 17.01.11, 12:00 AM

Mumbai, Jan. 16: Anil Ambani today claimed that his two group firms — Reliance Infra and RNRL — settled the Sebi probe voluntarily and the regulator had not imposed any ban on the firms or their directors from participation in the capital market. Besides, the regulator’s consent order will not impact fund-raising or growth plans of the two companies.

“Sebi has placed no restrictions on raising of equity and debt resources by any Reliance ADA Group company or individual... the matter has been settled through voluntary consent proceedings as stated in the Sebi order,” he said. In a consent order on Friday, Sebi barred Ambani and four other directors of the group from investing in listed securities till December. It also barred Reliance Infrastructure and RNRL, which has been merged into Reliance Power (RPower), from investing in the secondary markets till December 2012.

Ambani today said reports in a section of the press were far away from facts. In what is being seen as damage control ahead of the resumption of trade on the bourses tomorrow, he said there was no restriction on the raising of equity or debt by any of his group firms or the individuals concerned.

The firms were only barred from investing in listed shares and not mutual funds. They also have full flexibility to make primary issues such as follow-on public offerings, rights and bonus issues and preferential allotment. He said the consent order also allowed firms to participate and conduct open offers and invest in unlisted securities.

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