Reliance Communications settles case, pays Rs 62.4 lakh to SEBI

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Mumbai: Reliance Group of Companies Chairman Anil Ambani along with his son Anmol Ambani arrive to attend Reliance Group Annual General Meeting (AGM) in Mumbai on Sept 26, 2017. (Photo: IANS)

New Delhi, Nov 9: The Securities and Exchange Board of India on Friday said Reliance Communications (RCOM) has settled its case with the regulator by paying Rs 62.40 lakh over alleged non-cooperation with credit rating agencies and debenture trustee.

“Reliance Communications Limited filed a suo moto application in terms of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 proposing to settle, through a settlement order,” SEBI said in a statement.

SEBI said that the High Powered Advisory Committee in its meeting in September considered the terms of the proposed settlement and recommended the case be settled with the payment.