- SEBI has barred Anil Ambani-led Reliance Infra and RNRL from investing in the secondary market till 2012, besides imposing a charge of Rs.50 crore for settling a probe into alleged unfair market dealings by the two firms. However, debarment of companies and officials does not apply to investments in mutual funds, primary market issues, buybacks and open offers.
- In a consent order passed on Friday, SEBI said it had agreed to settle the case after the two companies agreed to its certain terms and conditions, including the payment of settlement charges — a record high such amount charged by SEBI so far.
What is Consent order?
Consent Order means an order settling administrative or civil proceedings between the regulator and a person (Party) who may prima facie be found to have violatedsecurities laws. It may settle all issues or reserve an issue or claim, but it must precisely state what issues or claims are being reserved. A Consent Order may or may not include a determination that a violation has occurred.
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