Reliance Group chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following SEBI’s directive to regulate markets that barred him from associating with any listed company.
“Anil D Ambani, a non-executive director, stepped down from the Reliance Power board in compliance with the interim order of SEBI (Securities and Exchange Board of India),” Reliance Power said in a BSE file.
In a separate file on stock trading, Reliance Infrastructure said Anil Ambani stepped down from his board “in line with SEBI’s interim order”.
Sebeb in February shut down Reliance Home Finance Ltd, industrialist Anil Ambani and three other people in the securities market for alleged embezzlement.
The regulator also barred Ambani and three others “from associating with any mediator registered with Sebi, any listed public company or acting directors / promoters of any public company that aims to raise money for the community until the order is issued.”