Anil Ambani resigns on the orders of SEBI: left the post of director in Reliance Power and Reliance Infrastructure; Rahul Sareen to command, board’s approval pending

Reliance Anil Dhirubhai Ambani Group (ADAG) chairman Anil Ambani stepped down as the director of Reliance Power and Reliance Infrastructure on Friday night. SEBI had asked him to stay away from any listed company.

The boards of directors of R-Power and R-Infra on Friday appointed Rahul Sarin as an additional director for a tenure of five years, both the ADAG group companies said. However, the approval of the members is yet to be taken in the general meeting on this appointment.

Information given to BSE about leaving Anil’s post
Reliance Power said in BSE filing – Anil Dhirubhai Ambani (Non Executive Director) is stepping down from the board of Reliance Power. This is a decision taken on the basis of the interim order of SEBI. Reliance Infrastructure has also given a similar filing to the stock exchange.

RHFL was banned by SEBI in February
In February, SEBI had banned Reliance Home Finance Ltd, industrialist Anil Ambani and three other persons from the securities market for allegedly extorting money.