Anil Ambani, chairman of the Reliance Anil Dhirubhai Ambani Group (ADAG), stepped down as director of Reliance Power and Reliance Infrastructure on Friday night. He was told by SEBI not to work for any publicly traded company.
R-Power and R-boards Infra’s of directors appointed Rahul Sarin as an additional director for a five-year term on Friday, according to both ADAG group companies. However, the members’ approval is still pending at the general meeting on this appointment.
R-Power and R-Board Infra’s of Directors appointed Rahul Sareen as an independent director for a five-year term on Friday.
BSE was informed about Anil’s decision to resign.
Anil Dhirubhai Ambani (Non Executive Director) is stepping down from the board of Reliance Power, according to a BSE filing. This is a decision based on the interim order issued by SEBI. The stock exchange has also received a similar filing from Reliance Infrastructure.
SEBI outlawed RHFL in February.
Reliance Home Finance Ltd, industrialist Anil Ambani, and three other individuals were barred from the securities market by SEBI in February for allegedly extorting money.