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Sebi moves sessions court against RIL for violation of Companies Act

The company said the matter pertains to the issue of debentures with convertible warrants two decades ago

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RIL co-operated with Sebi and has produced abundant evidence establishing that RIL has not violated any norms, the company said.

Samie Modak Mumbai

1 min read Last Updated : Aug 07 2020 | 1:03 AM IST

Reliance Industries (RIL) has disclosed that the markets regulator Securities and Exchange Board of India (Sebi) has moved the Sessions Court against it for alleged violation of the Companies Act and Sebi regulations. The company said the matter pertains to the issue of debentures with convertible warrants two decades ago.

“RIL co-operated with Sebi and has produced abundant evidence establishing that RIL has not violated Section 77 of the Companies Act. Sebi has not issued a show cause notice to RIL. There has been no adjudication of this alleged violation under Section 15-I of the Sebi Act, 1992. Notwithstanding this,

Topics : Sebi Sebi norms Reliance Industries RIL Companies Act

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