Reliance Communications settles case, pays Rs 62.4 lakh to SEBI

New Delhi: The Securities and Exchange Board of India on Friday said Reliance Communications (RCOM) has settled its case with the regulator by paying Rs 62.40 lakh over alleged non-cooperation with credit rating agencies and debenture trustee.

"Reliance Communications Limited filed a suo moto application in terms of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 proposing to settle, through a settlement order," SEBI said in a statement.

SEBI said that the High Powered Advisory Committee in its meeting in September considered the terms of the proposed settlement and recommended the case be settled with the payment.