No ban on RNRL; Anil Ambani slams media

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Anil Ambani
Mumbai, Jan 16: Reliance Group's Anil Ambani, finally, held the bat to defend media's "misleading" reports about SEBI's ban on R-Infra or RNRL from the capital markets.

The Reliance group organised an emergency press conference and Anil Ambani himself confronted media's queries about the SEBI-RNRL confusion and informed that he was "shocked" after viewing media's reports.

Earlier on Friday, Jan 15, 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.

But several media reported that Securities and Exchange Board of India (SEBI) banned Reliance Natural Resources Limited (RNRL) to invest in publicly-listed securities till Dec 2011.

Read: SEBI acts on Anil Ambani & Co.

However, officials of Reliance Infrastructure clarified the confusion by stating, "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."

Read: No ban by SEBI, settlement terms voluntary: ADAG

Mr Ambani on Jan 16 also informed that Reliance Infrastructure and Reliance Natural Resources Limited (RNRL) will invest in mutual funds and unlisted securities but Reliance Infrastructure will not invest in secondary markets till Dec 2012.

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