RCom pays Rs 62.4 lakh to settle case with Sebi

Reliance Is The World’s Costliest Energy Stock To Own

Reliance Group chairman Anil Ambani. Photo: Reuters

New Delhi: Reliance Communications has settled a case with the Securities and Exchange board of India (Sebi) for alleged non-cooperation with credit standing businesses and debenture trustees in violation of itemizing norms.

The firm has additionally reached a settlement concerning non-compliance with itemizing norms, together with failure to inform curiosity cost default on debentures, Sebi stated in an order on Friday.

The firm, a part of the Anil Ambani-led Reliance Group, settled the case after paying Rs 62.4 lakh in direction of settlement prices, it stated.

Under the settlement mechanism, an entity is allowed to settle prices by paying a penalty with out admission or denial of guilt.

This story has been revealed from a wire company feed with out modifications to the textual content. Only the headline has been modified.

Reliance Group corporations have sued HT Media Ltd, Mint’s writer, and 9 others within the Bombay excessive court docket over a 2 October 2014 front-page story that they’ve disputed. HT Media is contesting the case.

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