Reacting for the first time since the Securities & Exchange Board of India (SEBI) passed its final order in the Reliance Home Finance Ltd (RHFL) case, a spokesperson for Anil Ambani, chairman, Reliance ADA Group said “Mr. Ambani is reviewing the Final Order dated 22 August 2024 passed by SEBI in the said matter and will take appropriate next steps as legally advised.”
“Mr. Ambani had resigned from the board of directors of Reliance Infrastructure Ltd and Reliance Power Ltd pursuant to SEBI’s interim order dated 11 February 2022 in the matter of RHFL, and is in compliance with the said interim order for the last two and a half years,” the statement added.
In separate statements Reliance Infrastructure Ltd and Reliance Power Ltd stated that they were not noticees or parties to the proceedings before SEBI in which the Order had been passed.
No directions were given in the Order against both the companies.
As per the statements Mr. Anil Ambani had resigned from the board of directors of Reliance Infrastructure Ltd and Reliance Power Ltd pursuant to the interim order dated February 11, 2022 passed by SEBI in the same proceedings.
Therefore, the Order dated August 22, 2024 passed by the SEBI has no bearing whatsoever on the business and affairs of both the companies.
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