Reliance Group Chairman Anil Ambani has resigned as the director of Reliance Power and Reliance Infra.
Reliance Group Chairman Anil Ambani on Friday (March 25) resigned as directors of Reliance Power and Reliance Infra. His resignation came on the orders of market regulator SEBI. SEBI has barred Ambani from being associated with any listed company. Reliance Power and Reliance Infra informed in separate exchange filings that pursuant to the interim orders of SEBI, Ambani has resigned as non-executive director from the boards of both the companies.
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Last month, Sebi had banned Anil Ambani
Markets regulator SEBI had last month banned Reliance Home Finance, industrialist Anil Ambani and three others from the securities market in February 2022 for wrongful withdrawal of money from the company. Apart from this, SEBI has banned four people, including Ambani, from joining as acting directors/promoters of any intermediary registered with SEBI, a listed public company or a public company preparing to raise money from investors. This ban will continue till further orders of SEBI.
Before March 31, invest money in this scheme, get guaranteed pension at the rate of 7.4% every month for 10 years
After Ambani, Rahul Sarin got the responsibility
After the resignation of Anil Ambani, both Reliance Group companies R Power and R Infra have appointed Rahul Sarin as additional director for five years. However, their appointment is yet to be approved by the members in the general meeting. The company’s board of directors unanimously lauded Ambani’s leadership and said they are waiting for the matter to be resolved at the earliest so that Ambani can be brought back in the interest of all stakeholders. Sarin, 72, did public service for 35 years and retired as Secretary to the Government of India. At present he is the director of Afthonia Private Limited.
(Input: PTI)
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