Chairman Anil Ambani Resigns As Director
On Friday Chairman of Reliance Group Anil Ambani resigned as director of Reliance Power and Reliance Infra. Following the news SEBI orders a restrain against him from assisting any other listed company.
As per BSE filing of Reliance Power, “Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order.”
In a separate BSE filing, Reliance Infrastructure said Anil Ambani has resigned as director, “in compliance of SEBI interim order.”
In February SEBI restrained Reliance Home Finance Ltd, Anil Ambani, and three other associates from the security markets for allegedly diverting funds from the company.
Market regulator SEBI also barred Anil Ambani & his three associates from connecting themselves from any other mediator registered in SEBI. And also from any other public company, directors or promoters of public companies who desire to raise money from the public.
Statement goes as, “associating themselves with any intermediary registered with Sebi, any listed public company or acting directors/ promoters of any public company which intends to raise money from the public till further orders.”
Reliance Group Appoints Rahul Sarin
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On Friday both the Reliance Companies stated that Rahul Sarin now has been appointed as the Additional Independent Director for the tenure of five years. With the approval of the members at the general meeting Mr Rahul Sarin now to be the additional director for both the boards of Reliance Power & R-Infra.
The Firm said, “The board of directors of the company unanimously reposed full trust in Mr Ambani’s leadership and invaluable contribution to steering the company through great financial challenges and towards being potentially debt-free in the course of the coming financial year.”
They Further state that the board is very positive on the matter and expect an early closure. Ready to invite Anil Ambani back to assist the company with his vision and leadership skills soon.