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SEBI to look into sale of pledged shares of Reliance Group's listed companies

Capital markets regulator, SEBI is investigating the charges levelled by ADAG Reliance group and its two lenders against each other regarding sale of pledged shares. While Anil Ambani-led Reliance Group has accused L&T Finance and Edelweiss Group entities of  illegally selling the pledged shares of its three group companies in the open market, causing a steep fall in market cap, the lenders have refuted the allegations and counter-alleged that Reliance Group failed to make timely payments, which forced them to invoke the pledge. SEBI has asked exchanges to look into the trade details and seek clarifications from the concerned entities.

Read More at Livemint News date : 11 Feb 2019, Monday

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