Edelweiss case: No interim relief for Anil Ambani group's promoter entities

The Anil Ambani group had sought to restrain sale of pledged shares

The Bombay High Court (HC) on Wednesday declined interim relief to the Anil Ambani group’s promoter entities, which had moved a petition asking the court to restrain Edelweiss Financial Services from selling its pledged shares. The court has, however, admitted the petition.

Anil Ambani promoter entities — Reliance Wind Turbine Installations Industries and Reliance Project Ventures and Management — sought damages of Rs 2,700 crore from Edelweiss for selling its shares “illegally”.

On February 8, 2019, the group said L&T Finance and certain entities of Edelweiss Group, invoked pledge of listed shares of Reliance Group and made open-market sales of