Rel Investors Demand Sebi Chief Resignation and Probe Into Reliance Power Ipo
Lavelle asks:
REL investors say that their pre IPO fears vindicated, demand SEBI chief Damodaran’s resignation for being part of the national fraud and ignoring investor’s interest. Term Reliance Power issue biggest fraud on innocent Indian public. Blame Panvati Anil Ambani for the present day of markets.
REL Investors Forum , which had raised several issues before the Reliance Power IPO and also had written to SEBI on the irregularities in the IPO and its adverse effects on Reliance Energy Limited (REL) investors interest have demanded immediate resignation of SEBI chairman for protecting the promoter’s interests by allowing of the Reliance Power issue at such a high premium.
The SEBI totally ignored the plea of various investor forums and the order of The Bombay high court that had asked SEBI to expeditiously look into the serious irregularities in the Reliance Power IPO cited by investors.
“We had asked SEBI to go into depth into the irregularities in IPO to ally the fears of investors who are being duped every now and then by unscrupulous promoters . SEBI totally ignored the plea and sided with the promoters instead of the investors. Had SEBI acted on time the investors would not have suffered and seen the present day” Said
Mr Parkash Krishnan of REL Investors Forum.
“Shareholders approval not obtained for transfer of projects from REL to Reliance Power. These are serious corporate Governance issues which should be resolved before clearing the RP, IPO” Mr Upadhyaya said.
The investors have demanded probe into the role of Media including news agencies (PTI) for creating the uncalled for hype and filing false speculative stories day in and day out including today’s front page interviews of Anil Ambani the main culprit for bringing down the markets and giving losses to Lakhs of innocent investors for personal ambitions of becoming world’s richest person.
The truth always prevails ‘Satyam Ve Jantay’.
REL investors say that their pre IPO fears vindicated, demand SEBI chief Damodaran’s resignation for being part of the national fraud and ignoring investor’s interest. Term Reliance Power issue biggest fraud on innocent Indian public. Blame Panvati Anil Ambani for the present day of markets.
REL Investors Forum , which had raised several issues before the Reliance Power IPO and also had written to SEBI on the irregularities in the IPO and its adverse effects on Reliance Energy Limited (REL) investors interest have demanded immediate resignation of SEBI chairman for protecting the promoter’s interests by allowing of the Reliance Power issue at such a high premium.
The SEBI totally ignored the plea of various investor forums and the order of The Bombay high court that had asked SEBI to expeditiously look into the serious irregularities in the Reliance Power IPO cited by investors.
“We had asked SEBI to go into depth into the irregularities in IPO to ally the fears of investors who are being duped every now and then by unscrupulous promoters . SEBI totally ignored the plea and sided with the promoters instead of the investors. Had SEBI acted on time the investors would not have suffered and seen the present day” Said
Mr Parkash Krishnan of REL Investors Forum.
“Shareholders approval not obtained for transfer of projects from REL to Reliance Power. These are serious corporate Governance issues which should be resolved before clearing the RP, IPO” Mr Upadhyaya said.
The investors have demanded probe into the role of Media including news agencies (PTI) for creating the uncalled for hype and filing false speculative stories day in and day out including today’s front page interviews of Anil Ambani the main culprit for bringing down the markets and giving losses to Lakhs of innocent investors for personal ambitions of becoming world’s richest person.
The truth always prevails ‘Satyam Ve Jantay’.
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