Saturday, May 07, 2005
Saturday, May 07, 2005 |
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Special Correspondent
MUMBAI: In the midst of accusations of violation of corporate governance and disclosure norms by Reliance Industries Limited (RIL), its Vice Chairman and Managing Director, Anil Ambani, has met the Securities and Exchange Board of India (SEBI) Chairman, M. Damodaran, on Thursday. Although details of the meeting were not known immediately, it is presumed that Mr. Anil Ambani raised a number of issues relating to the functioning of RIL and other group companies with the SEBI chairman. Mr. Anil was seeking action from the regulatory authorities against the Reliance group of companies, which, he alleged, violated the norms of corporate governance and disclosures. Since late last month, Mr. Anil and his colleague and former treasurer of RIL, Amitabh Jhunjhunwala, have raised many issues, including the sale of IPCL equity by Reliance Capital. Mr. Anil also refused to sign the financial results of RIL at its board meeting on April 27, "owing to the absence of relevant information and disclosures".
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