Anil Ambani resigns as Reliance Director

Following a market regulator’s ruling prohibiting him from participating with any listed firm, Reliance Group Chairman Anil Ambani resigned as director of Reliance Power and Reliance Infrastructure on Friday.

In a BSE filing, Reliance Power said that non-executive director Anil D Ambani “steps down from the board of Reliance Power in line with SEBI (Securities and Exchange Board of India) interim decision.”

Reliance Infrastructure announced in a separate filing to the stock exchange that Anil Ambani had stood down from the board “in line with SEBI interim ruling.”

Reliance Home Finance Ltd, industrialist Anil Ambani, and three other individuals were prohibited from the securities market by Sebi in February for allegedly syphoning funds from the company.