Bourses to check IPCL listing pact

Taking note of the developments relating to the status of Anil Ambani as director on the board of Reliance Group entity IPCL Ltd, Securities and Exchange Board of India has asked stock exchanges to check the company's adherence to listing agreement.

The matter (directorship and related correspondence) came up for review at the weekly surveillance meeting with exchanges on Monday evening, SEBI sources said in Mumbai on Tuesday.

Anil unaware of his status in IPCL

The exchanges have been asked to monitor trading in IPCL scrip and look into the company's conformity with provisions of the listing pact, they said.

Mukesh Ambani-headed IPCL had on Monday said Anil's resignation from its Board of Directors became effective from January 20 this year when the board considered it, even as the younger brother said he had not heard anything from the company on his status as director on the board.

The board of IPCL is meeting on Tuesday to consider the financial results for 2004-05.