Sebi to look into sale of pledged shares of Reliance Group’s 3 listed firms


Sebi to look into sale of pledged shares of Reliance Group’s 3 listed firms

Market regulator Sebi is looking into allegations and counter-allegations related to the sale of pledged shares of Anil Ambani-led Reliance Group’s three listed firms by two lenders, senior officials said Monday.

Reliance Group has accused L&T Finance and Edelweiss Group entities of “illegal” and “motivated” actions in invoking the pledged shares of Anil Ambani group 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 pledges shares. Read More

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