Mukesh Ambani to move SAT against Sebi fine

mukesh ambani to move sat against sebi fine

Sumary of Mukesh Ambani to move SAT against Sebi fine:

  • Reliance Industries (RIL) chairman Mukesh Ambani will file an appeal before the Securities Appellate Tribunal (SAT) against the penalty imposed by capital markets regulator Sebi over alleged takeover violations in a 21-year-old share issue in the company..
  • There has been no violation of Sebi takeover regulations and the promoters have complied with applicable laws, RIL said in a stock exchange filing..
  • The promoters informed RIL that they will appeal to SAT and they remain confident of vindicating their position, RIL added in the filing..
  • Sebi had imposed a fine of Rs 25 crore collectively on multiple promoter entities including Ambani and his wife Nita for not complying with takeover norms in an RIL share issue that dates back to 2000..
  • According to Sebi, rules require promoter entities to make an open offer to minority investors if they acquire more than 5% in the company….

Want to know more click here go to source.

From -
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.