MUMBAI (Commodity Online): Indian Market regulator, The Securities and Exchange Board of India (SEBI) bans Reliance Infra and Reliance Natural Resources((Public, NSE:RNRL) from making investments in secondary market of listed securities until December 2012.

The directive came after SEBI’s finding that these companies misrepresented numbers in reports for years ending March 2007, 2008, 2009.
 
The restriction shall applicable to individual applicants, including Anil Ambani, as he cannot make investments in secondary market listed securities until December 2011.

According to SEBI Reliance Infra shall pay a settlement charge of 250 million rupees .

But Reliance Infra negated this allegation by saying that it has settled show-cause proceedings of June 2010 with SEBI and directors voluntarily paid entire settlement fees with no burden to companies.