RNRL Anil Ambani Banned From Stock Market By SEBI

Market regulator Securities and Exchange Board of India i.e. SEBI has banned Reliance Infra, RNRL and it's chairman Anil Ambani from Stock Market.

It is said that they showed misrepresentation of investments.

According To SEBI : Anil Ambani and four board members of Reliance Natural Resources Limited (RNRL) have been barred by the Securities and Exchange Board of India from investing in the stock market till December 2011. 

The four board members who have been banned along with Group Chairman Anil Ambani are Satish Seth, Lalit Jalan, SC Gupta and JP Chalsani.

Reliance Infra, RNRL, Anil Ambani and four other directors have paid settlement fees of Rs 50 crore towards the consentorder. After this order, Reliance Infra and RNRL can't make investments in the secondary markets upto December 2012.

And Anil Ambani and four directors have been barred from investing in secondary market until December 2011.

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