Wednesday, Jan 26, 2005
Wednesday, Jan 26, 2005 |
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NEW DELHI, JAN. 25. Amid the bitter battle between the Ambani brothers, the market regulator Securities and Exchange Board of India today gave a clean chit to Reliance Industries on the issue of disclosure norms before its Rs. 2,990-crore buyback programme. "On the buyback, we had already told Reliance to make additional disclosures that were felt necessary. The company has done it,'' the SEBI Chairman, G. N. Bajpai, said after a board meeting here. Investors have to take investment decisions on the basis of financial disclosures. "Whenever, there is any deficiency in information, we ask the company to provide additional disclosures,'' he said. He dismissed speculations that the SEBI board had discussed the Reliance issue following the younger brother Anil Ambani's allegations that RIL had flouted corporate governance norms but said, "Whatever we have to do, we will do.'' PTI
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