Anil Ambani resigns: anil ambani, chairman of reliance Group, has resigned as chairman of reliance Power and reliance Infrastructure.

SEBI order

SEBI, a stock exchange regulator, had recently issued an order barring anil ambani from holding any position in any of the companies listed on the stock exchange. Accordingly, anil ambani has resigned.

What is the reason?

SEBI has found that anil ambani, the chairman of reliance Home Finance, and three of his employees used the company's funds for other purposes. Consequently, anil ambani, and all 3 employees should not hold executive positions in any of the reliance companies listed by SEBI. It was ordered last february that the order would remain in effect until further notice. Following this, reliance CEO anil ambani was forced to resign from the post of managing director of his own company.

Resign

Following this, reliance Power filed a report in the stock market yesterday in which it said, “Anil de Ambani, Chairman of reliance Group, has resigned as Chairman of reliance Power. He is not in any executive position as per the SEBI order. ”

Similarly, in a petition filed with reliance Construction on BSE, he said, “Anil Ambani is not in any executive position in reliance Construction. He has resigned from all his posts. ”

New director

Rahul Sarin has been appointed Additional director, reliance Power, reliance Construction. rahul Sarin has been appointed as the Additional director for the next 5 years as per the decision taken at the Executive Committee meeting. At the same time, the board has full confidence in the leadership of Anil Ambani. Will deal with all debts and financial challenges in the coming financial year. The Board hopes that anil ambani will continue to be a guide for the benefit of the Board.

Stock price

Over the past one year, Reliance's share price has risen steadily from Rs 32 to Rs 150. rahul Sarin, 72, who has been appointed Additional director of reliance, has been the Union Secretary for 35 years. Sarin is currently the director of Aptonia Pvt