RIL denies violation of listing rules

RIL said none of its independent directors has any financial ties with the company.

Reliance Industries Ltd (RIL) has said none of its independent directors has any pecuniary relationship with the company or its subsidiaries.

In a communication to the stock exchanges on Monday, the company said there had also been no violation of Clause 49 of the Listing Agreement.

RIL's statement was in response to a Business Standard report "Independent Directors had financial ties with RIL" published on Monday.

The statement said DV Kapur, YP Trivedi and S Venkitaramanan were appointed additional directors of RIL on March 28, 2001, April 16, 1992, and August 14, 2002, respectively.

The company said since their appointment as directors, none of them had been paid any amount either by the company, its promoters, or by any person involved in the management of the company, or by any subsidiary, except for sitting fees as a director.