Updated Apr 08, 2021 | 19:30 IST
The fine had been imposed for not making regulatory disclosures when they collectively raised their shareholding in Reliance by 6.83% by subscribing to a January 2000 issue. Reliance to appeal in SAT against Sebi fine on Mukesh Ambani
New Delhi: Reliance Industries Chairman Mukesh Ambani will appeal against the fine imposed by market regulator SEBI over alleged irregularities in a two-decade-old share issue in the company, the firm said on Thursday. Reliance Industries Ltd (RIL) had issued debentures with convertible warrants in 1994 and allotted equity shares against the warrants in 2000. There has been no violation of Regulation 11(1) of the SEBI Takeover Regulations and they have complied with applicable laws. An appeal will be preferred to the Securities Appellate Tribunal and they remain confident of vindicating their position, RIL said in a stock exchange filing.
Mukesh Ambani to appeal against SEBI penalty
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21 Years After: SEBI Imposes Rs25 crore Joint Penalty on Ambani Family & Reliance Promoter Entities for Violation of Takeover Norms
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Mukesh Ambani to challenge SEBI s Rs 25 crore fine in SAT
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Mukesh Ambani First, Gautam Adani Second On Forbes 10 Richest Billionaires 2021 List
The number of billionaires increased to 140 from 102 last year and their collective wealth doubled to $596 billion during the last year. File Photo Outlook Web Bureau 2021-04-07T10:00:53+05:30 Mukesh Ambani First, Gautam Adani Second On Forbes 10 Richest Billionaires 2021 List outlookindia.com 2021-04-07T10:04:33+05:30
Mukesh Ambani, the chairman of Reliance Industries Ltd secured the first spot on the Forbes 10 richest billionaires 2021 list while Adani Group chairman Gautam Adani is in second place. With a net worth of $84.5 billion, Ambani topped the Forbes list of India’s richest billionaires while Adani was ranked second with a fortune of $50.5 billion.