"I do not wish to comment," M Damodaran, chairman, SEBI told PTI on whether the two sides have approached the regulator on listing issues and if it had given any direction to the Bombay Stock Exchange for completing the listing formalities of Reliance Natural Resource Ltd.
As per the settlement, the four new companies - RNRL, Reliance Communication Ventures, Reliance Energy Ventures and Reliance Capital Ventures -- are to be transferred to Anil Ambani but Mukesh Ambani's aide Sandeep Tandon has maintained "listing is an obligation not only of the resulting company but also of RIL and its Board."
As chairman of RNRL, Tandon wrote to Bombay Stock Exchange on Saturday that SEBI had advised the exchange to complete formalities in relation to listing of the shares of the companies within a period of 15 days.
"The said period of 15 days expired on February 3, 2006. Since we have not heard further from you (BSE), we are writing to you to request you to let us know the status of our application for listing of our companies equity shares on your esteemed exchange," Tandon said in his letter.
"For the sake of good order, we are marking a copy of this letter to SEBI and NSE," Tandon, involved in a war of attrition with Anil's camp, said.
Tandon, chairman of four companies created after the demerger of Mukesh Ambani-controlled RIL, had earlier denied allegations by Anil's group that RIL was delaying the listing and transfer of management control and ownership of the four companies.
"We request you to confirm when you would be granting in-principle approval for listing of the company's shares as it is necessary for the company to reconstitute the board of directors in accordance with scheme of arrangement as sanctioned by Bombay High Court," he said in his letter.
Besides RNRL, Tandon said all documents for listing of Reliance Energy Ventures and Reliance Capital Ventures have also been submitted to stock exchanges and SEBI and it was for these authorities to grant required approvals.
Reacting to Tandon's move, Anil camp had accused the Mukesh side of "criminal attempt" to frustrate the transfer of shares to it.
Within hours of RIL's statement that it had approached the stock exchanges for the four new companies, slated to go to Anil, the younger Ambani's spokesperson in a statement accused Mukesh's camp of spreading a 'blatant falsehood' regarding transfer of shares claiming that Anil Dhirubhai Ambani Group had not received any such transfer.
Tandon and L Merchant, directors on the companies, were part of the inner most circle of Mukesh Ambani and have worked fulltime for RIL for more than a decade from its headquarters at Maker Chamber-IV in Mumbai, he had said.
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