SEBI order to impact RNRL, Rel Infra negatively: Tulsian

Market regulator Securities and Exchange Board of India or SEBI has passed a consent order regarding the Reliance Infra, RNRL investigation that showed misrepresentation of investments. Reliance Infra, RNRL, Anil Ambani and four other directors have paid settlement fees of Rs 50 crore towards the consent order.

After this order, Reliance Infra and RNRL can't make investments in the secondary markets upto December 2012. And Anil Ambani and four directors have been barred from investing in secondary market until December 2011. In an interview with CNBC-TV18, Sandeep Parekh, founder of Finsec Law Advisors and also Former ED of SEBI, SP Tulsian of sptulsian.com, and Vyapak Desai, Head - Litigation, Nishith Desai Associates, gave their perspectives on SEBI