Reliance Industries Ltd has informed BSE regarding a Press Release dated October 11, 2014 titled "Adil Zainulbhai appointed on the Board of Reliance Retail, Isha Ambani and Akash Ambani appointed on the Board of Reliance Jio Infocomm and Reliance Retail"
Monday, 13 October 2014
Friday, 10 October 2014
Reliance Industries Ltd has informed BSE about the Shareholding Pattern as on September 30, 2014.
Posted by Paramita Bannerjee at 20:54
Reliance Industries has approached the Securities Appellate Tribunal (SAT) against a penalty of Rs 13 crore imposed on it by markets regulator SEBI in a case related to disclosure of a key earnings ratio of the company.
SAT is scheduled to hear tomorrow the appeals filed by Reliance Industries Ltd (RIL) against the SEBI order that was passed on August 8, 2014.
The penalty includes a fine of Rs 1 crore for violation of Listing Agreement and another Rs 12 crore for violation of the Securities Contracts (Regulation) Act in a matter related to alleged non-disclosure of the Diluted Earnings Per Share (DEPS) in the quarterly and annual financial filings.
SEBI had asked the company to pay the penalty within 45 days of the receipt of the order.
The order followed a probe by the Securities and Exchange Board of India in an over 7-year old case involving alleged irregularities in the issuance of 12 crore warrants by Mukesh Ambani-led RIL to its promoters, entitling its holders to subscribe to equivalent number of equity shares of RIL.
It was alleged that this issuance in April 2007 had resulted in diluting the pre-issue paid-up equity share capital of RIL, but the company repeatedly failed to disclose such dilution in earnings for as many as six quarters.
In its 15-page order, Sebi said the company had submitted before it that there would "be no dilutive effect in the Earning Per Share (EPS) if the proceeds from the issue are not less than the fair value of the shares issued".
Sebi ruled that "conversion of warrants into equity shares would necessarily result in reduction in net profit per share of the company as the same amount of profit needs to be distributed to additional equity shares as well upon such conversion".
Posted by Paramita Bannerjee at 20:53
Wednesday, 8 October 2014
Saturday, 4 October 2014
Wednesday, 1 October 2014
Reliance Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 13, 2014, inter alia, to consider and approve the unaudited financial results of the Company for the quarter/ half year ended September 30, 2014 (Q2).
Pursuant to this, the Company has decided that the close period (i.e. closure of trading window) for Insiders covered under "Reliance Code of Conduct for Prohibition of Insider Trading" would commence from 6:00 p.m. on October 01, 2014 and will end 24 hours after the results are made public on October 13, 2014.
Posted by Paramita Bannerjee at 02:08