SEBI: RI, RNRL cannot invest in publicly traded cos

The Securities and Exchange Board of India (SEBI) said on Friday Reliance Infra (RI) and Reliance Natural Resources misrepresented nature of investments, their profits/losses in annual reports.

* India markets regulator says Reliance Infra, Reliance Natural Resources misrepresented numbers in reports for years ending March 2007, 2008, 2009 * India markets regulator says Reliance Infra, RNRL shall not make investments in secondary market listed securities until December 2012 * India markets regulator says individual applicants, including Anil Ambani, cannot make investments in secondary market listed securites until December 2011 * India markets regulator says Reliance Infra shall pay a settlement charge of Rs 25 crore * India markets regulator says Reliance Infra has remitted settlement amount * Reliance Infra says has settled show-cause proceedings of June 2010 with regulator * Reliance Infra says settlement is without admission or denial of guilt * Reliance Infra says settlement maintains full financial flexibility to implement growth projects * Reliance Infra says directors voluntarily paid entire settlement fees with no burden to co