NCLAT impleads Sebi as a party in the plea filed by RIL in Alok Industries matter
New Delhi: The National Company Law Appellate Tribunal (NCLAT) has impleaded the market regulator SEBI as a party in a petition filed by Reliance IndustriesNSE -0.71 % Ltd, which is seeking waiver in delisting procedure for Alok IndustriesNSE -8.62 %.
A two-member NCLAT bench headed by Chairman Justice S J Mukhopadhaya has issued notice to the Securities and Exchange Board of India (Sebi) as a proforma respondent for this.
RIL has got debt-ridden Alok Industries in its fold after the Ahmedabad bench of National Company Law Tribunal (NCLT) approved its Rs 5,050-crore resolution plan earlier this year in March.
