The department of company affairs has decided to forward the inspection report on Reliance Industries, Reliance Petroleum and three other group companies to the Securities and Exchange Board of India to examine if there were any violations of guidelines issued by the market regulator.
The other three group companies are Lavanya Holdings and Trading, Reliance Industrial Infrastructure and Reliance Filaments, now called Silvassa Industries.
Official sources told Business Standard that the registrar of companies, Mumbai, has been instructed by DCA to forward a copy of the inspection report to Sebi.
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"We have acted on whatever was under our purview and will send the report to the other regulators to ensure that violations of norms under their purview could be dealt with," an official said.
In response to a questionnaire, a Reliance group spokesperson denied knowledge of any reference to Sebi.
He said, "Reliance reiterates that it has complied with all applicable laws, rules and regulations."
Last year, DCA had ordered the inspection following allegations by Bahujan Samaj Party MP Raashid Alvi.
Recently, DCA had ordered Reliance group chairman Mukesh Ambani, managing director Anil Ambani and other directors to pay a compounding fees of Rs 4.8 lakh for contravening provisions of the Companies Act, 1956.
While Mukesh Ambani was asked to pay compounding fee of Rs 40,000, Anil Ambani was asked to pay Rs 50,000 as compounding fee.
The offences for which compounding was ordered related to violation of section 217 of Companies Act for not mentioning certain contracts between RPL and CPPL Project Services which were not mentioned in the directors report.
Another offence for which DCA has taken action pertains to RPL furnishing amounts in the balance sheet in "Rupees lakh" instead of "Rupees thousand".
The third offence for which action has been taken involves violations of provisions of sections 211 read with schedule VI of the Companies Act.