Reliance Power asks Sebi to immediately ban Edelweiss Group from capital mkts


Reliance Power asks Sebi to immediately ban Edelweiss Group from capital mkts

Anil Ambani-led Reliance Power has asked the Sebi to immediately ban Edelweiss Group from the capital market, alleging “illegal and market disruptive activities” to cause a steep plunge in the company’s share price.

Reliance Group, last week, accused L&T Finance and Edelweiss Group entities of “illegal” and “motivated” actions in invoking the pledged shares of Anil Ambani group’s three listed firms and selling them in open market causing a steep fall in share values.

L&T Finance and Edelweiss Group have refuted the allegations and have counter-alleged that Reliance Group failed to make timely payments, which they said necessitated sale of pledged shares.  Read More