Reliance Communications settles case with Sebi for violation of listing norms

Reliance Communications has settled a case with Sebi for alleged non-cooperation with the credit rating agencies and debenture trustee in violation of listing norms.

The company has also reached a settlement regarding non-compliance with listing norms including failure to inform interest payment default on debentures, the Securities and Exchange Board of India (Sebi) said in an order Friday.

The company, part of Anil Ambani-led Reliance, settled the case after paying Rs 62.4 lakh towards settlement charges, it said.

Under the settlement, an entity is allowed to settle charges by paying a penalty without admission or denial of guilt.