Tuesday, August 3, 2010

Anil Ambani, others get notice from India regulator

MUMBAI: India's capital markets regulator has asked billionaire Anil Ambani, two firms controlled by him and four other executives who are part of his group to respond to a notice, according to a posting on its website.

It was unclear what matter the Securities and Exchange Board of India (SEBI) was seeking responses on from Ambani, the executives and the companies, Reliance Infrastructure and Reliance Natural. A spokesman for SEBI could not be immediately reached for comment.

Reliance Infrastructure said in a statement: "The matter is sub-judice. Reliance Infrastructure Ltd, Reliance Natural Resources Ltd, and the concerned individual directors will comply with due process of SEBI, and are confident of suitable resolution of the matter, as legally advised." ' Reuters

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