Anil Ambani group today said Reliance Infra and RNRL settled the Sebi probe through voluntary terms proposed by them and the regulator did not impose any ban on the companies or their directors.
“There is no bar or ban imposed by Sebi on the company and its directors. The matter has been settled through voluntary consent proceedings, as stated in Sebi order,” a Reliance Infrastructure spokesperson said in a statement.
The statement came a day after Sebi passed a consent order to settle a probe into alleged violation of regulations for foreign investment and unfair trade practices by Reliance Infra and RNRL. The terms include payment of Rs 50 crore as settlement charges, which have been paid by the directors without any financial burden on the companies involved.
