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Home > Business > PTI > Report

FM refuses to react on RIL issue

December 27, 2004 14:24 IST

Finance Minister P Chidambaram on Monday declined to comment on the allegations of insider trading in Reliance Industries leading to sudden rise in its scrip price.

"I will not comment on allegations," he said when asked about the statement made by Anil Ambani that "there is more than that meets the eye" regarding the buyback of shares, ahead of RIL board meeting.

Meanwhile in Mumbai, market regulator Securities and Exchange Board of India has started assessing the legal provisions of the buyback in the wake of Anil Ambani's comments.

SEBI chairman G N Bajpai and director Anantharamnan are believed to have started discussions on it within minutes of the statement.

Senior SEBI officials said there was enough scope to look into the entire issue. BSE officials, however, declined to comment on the issue.

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