The Securities and Exchange Board of India (Sebi) has not yet enchashed the Rs 5 lakh cheque submitted to the market watchdog by Reliance Industries Ltd for the alleged delay in informing the regulator when its shareholding in Larsen & Toubro (L&T) crossed 5 per cent for the second time in November 2001.
According to Sebi officials, the cheque can not be accepted because Reliance is not admitting its guilt.