The high court here issued notices on Thursday to Reliance Industries and Union ministries of finance and corporate affairs on a petition filed by a shareholder alleging inadequate disclosure.
The petitioner, Kolkata-based Reliance Industries (RIL) shareholder Anil Poddar, has alleged the missing disclosures are in violation of company law provisions. The matter has been posted to August.
Poddar had sought a stay on the RIL annual general meeting (AGM), scheduled on Friday, claiming several important disclosures including those required under the Companies (auditor's report) order (CARO), 2015. CARO 2015 was notified in the gazette on April 10.
An RIL spokesperson did not respond to an email seeking comments.
Poddar said he did not get any relief from Securities and Exchange Board of India, which he had moved last week. "Sebi has not taken any action but requested me to approach the ministry of corporate affairs. Efforts to make the ministry of finance and Serious Fraud Investigation Office also failed."
RIL's legal department has had a busy week ahead of the AGM. The company moved the Bombay High Court on Tuesday to quash summons issued by a local court against the group's executives in a complaint filed by another shareholder, also on disclosure issues.
The petitioner, Kolkata-based Reliance Industries (RIL) shareholder Anil Poddar, has alleged the missing disclosures are in violation of company law provisions. The matter has been posted to August.
Poddar had sought a stay on the RIL annual general meeting (AGM), scheduled on Friday, claiming several important disclosures including those required under the Companies (auditor's report) order (CARO), 2015. CARO 2015 was notified in the gazette on April 10.
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"The court, however, did not grant a stay on the AGM," Poddar told Business Standard.
An RIL spokesperson did not respond to an email seeking comments.
Poddar said he did not get any relief from Securities and Exchange Board of India, which he had moved last week. "Sebi has not taken any action but requested me to approach the ministry of corporate affairs. Efforts to make the ministry of finance and Serious Fraud Investigation Office also failed."
RIL's legal department has had a busy week ahead of the AGM. The company moved the Bombay High Court on Tuesday to quash summons issued by a local court against the group's executives in a complaint filed by another shareholder, also on disclosure issues.