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| Sebi issues notices to ADAG firms on stock mkt dealings |
| Press Trust of India / Mumbai Aug 02, 2010, 20:00 IST |
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 Market regulator the Securities and Exchange Board of India (Sebi) has issued notices to two of Anil Dhirubhai Ambani Group (ADAG) companies and its top executives, including its Chairman Anil Ambani, in a matter relating to stock market transactions.
The regulator asked the companies - Reliance Natural Resources (RNRL) and Reliance Infrastructure (R-Infra) - as also five top executives including Anil to appear before it for personal hearing on September 3.
Besides Anil, who is Chairman of both the companies, R-Infra's Vice Chairman Satish Seth and other directors J P Chalsani, S C Gupta and Lalit Jalan were asked to submit replies by August 27 to the showcause notices given to them in June.
The notices were issued to the companies as also these executives on June 7 "in the matters of dealings by RNRL and R-Infra."
Hearing the case, a Sebi Bench headed by Member M S Sahoo noted that though the two companies had sought inspection of documents and postponement of hearing, there was no appearance on behalf of other executives.
No immediate comments could be obtained from ADAG officials.
Sebi said the two companies and their representatives were earlier asked to reply to the notice by June 30.
However, they did not file any reply, the market regulator said.
Sebi had also offered them an opportunity of personal hearing. However, none of them availed of the opportunity, Sebi said.
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