There'll be hurdles; SEBI didn't respond to complaint: Anil
Ahead of the public offer of group company Reliance Power Ltd, Anil Ambani today said a concerted effort was made to create problems and expected more troubles but exuded confidence of overcoming all the hurdles.
By PTI |
NEW DELHI: Ahead of the public offer of group company Reliance Power Ltd, Anil Ambani today said a concerted effort was made to create problems and expected more troubles but exuded confidence of overcoming all the hurdles.
"SEBI has not responded to our complaint... but the best response has come in the form of their approval for the IPO," he said when queried about the market regulator's response to the complaints lodged by his group alleging that many officials of elder brother Mukesh-run Reliance Industries, including key executive Manoj Modi, were sabotaging the IPO.
On whether he expected further troubles before the IPO that is hitting the market on January 15 for raising up to Rs 11,700 crore, Anil said: "There will be hurdles... our challenge is to cross those hurdles and proceed with further growth and value creation."
Without naming anyone who was named in Reliance Energy's complaint to SEBI, he said complaints from 40-50 Members of Parliament against the IPO were sent to government and other agencies. "All the complaints were identical in draft and even in spelling mistakes... those behind it should have thought of preparing at least 25-30 different drafts," he quipped.
In the run up to the clearance for IPO, Finance Ministry had sent a number of complaints received by it to the Corporate Affairs Ministry and SEBI.
At the same time, ADA group company Reliance Energy had written a letter naming 13 officials and associates of Reliance Industries alleging their involvement in sabotaging the initial public offer.
"SEBI has not responded to our complaint... but the best response has come in the form of their approval for the IPO," he said when queried about the market regulator's response to the complaints lodged by his group alleging that many officials of elder brother Mukesh-run Reliance Industries, including key executive Manoj Modi, were sabotaging the IPO.
On whether he expected further troubles before the IPO that is hitting the market on January 15 for raising up to Rs 11,700 crore, Anil said: "There will be hurdles... our challenge is to cross those hurdles and proceed with further growth and value creation."
Without naming anyone who was named in Reliance Energy's complaint to SEBI, he said complaints from 40-50 Members of Parliament against the IPO were sent to government and other agencies. "All the complaints were identical in draft and even in spelling mistakes... those behind it should have thought of preparing at least 25-30 different drafts," he quipped.
In the run up to the clearance for IPO, Finance Ministry had sent a number of complaints received by it to the Corporate Affairs Ministry and SEBI.
At the same time, ADA group company Reliance Energy had written a letter naming 13 officials and associates of Reliance Industries alleging their involvement in sabotaging the initial public offer.
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