RCom pays Rs 62.4 lakh to settle case with Sebi

Reliance Communications has settled a case with the Securities and Exchange board of India (Sebi) for alleged non-cooperation with credit rating agencies and debenture trustees in violation of listing norms.

The company has also reached a settlement regarding non-compliance with listing norms, including failure to inform interest payment default on debentures, Sebi said in an order on Friday.

The company, part of the Anil Ambani-led Reliance Group, settled the case after paying Rs 62.4 lakh towards settlement charges, it said.
Under the settlement mechanism, an entity is allowed to settle charges by paying a penalty without admission or denial of guilt.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

Source: Livemint

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