Anil Ambani group companies Reliance Infra and RNRL settles a SEBI probe into possible violation of securities market norms

Anil Ambani group companies Reliance Infra and RNRL on Friday settled a SEBI probe into possible violation of securities market norms by them for a collective settlement charge of Rs 50 crore.

In a consent order passed today, the Securities and Exchange Board of India (SEBI) said that it has agreed to settle the case after the two companies agreed to its certain terms and conditions, including the payment of settlement charges.

The consent order, as available in the "SEBI", website is available here.

On receipt of information that the amounts raised towards external commercial borrowings (ECB)/ Foreign currency convertible bonds by the ADA group companies had been used by them for investment in the stock market and the investment vehicles abroad were used as a means for the same. The scope of the investigation was