Mumbai, 26/3: Reliance Group Chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator SEBI restraining him from associating with any listed company.
“Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order,” Reliance Power said in a BSE filing.
In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board “in compliance of SEBI interim order”.
SEBI in February barred Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for allegedly siphoning off funds from the company. The regulator also restrained Ambani and three others from “associating themselves with any intermediary registered with Sebi, any listed public company or acting directors/ promoters of any public company which intends to raise money from the public till further orders.”