Sebi in February Barred Reliance Home Finance Ltd., Industrialist Anil Ambani and three other people from the Sekuritas Market for allegedly sucking funds from the company.
The Chairman of the Reliance Group Anil Ambani on Friday resigned as Director of Reliance Power and Reliance Infrastructure, following the Petchets Regulator ordered the order from associating with any company.
“Anil D Ambani, non-executive director, down from the Reliance Power Board to comply with the SBI (Securities and Exchange Board of India),” Reliance Power said in the archiving of BSE.
In a separate submission to the Stock Exchange, the dependency infrastructure said that Anil Ambani had resigned from the Board “in the original command compliance”.
Sebi in February Barred Reliance Home Finance Ltd., Industrialist Anil Ambani and three other people from the Sekuritas Market for allegedly sucking funds from the company.
The regulator also arrested Ambani and the other three of “linking themselves to the intermediaries registered in Sebi, every public company registered or director / promoter of any public company that intends to collect money from the public to further orders.”
Two Reliance Group companies said that Rahul Sarin was appointed as an additional director in the capacity of independent directors for a period of five years on Friday at the RPower and Rinfra Board, subject to members’ approval at the General Meeting.
The Board of Directors of the Company in a round voice reciprocal confidence in ambani leadership and invaluable contributions to direct the company through great financial challenges and to potentially free debt during the coming financial year, said the company.
They also said that the board was looking forward to the initial closure of this problem and invited Ambani again to give her vision and leadership to the company for the benefit of all stakeholders.
During the past year the company has created a great value for around 8 lakh shareholders with stock prices increased from low ₹ 32 to high ₹ 150 (469%), the board recorded.
Rahul Sarin, 72, a civil servant with a typical record of more than 35 years of public services, retirement as an Indian government secretary.
At present Sarin is Director of Afthonia Private Limited.
