New Delhi: The trouble of Anil Ambani Group, who is struggling with debt crisis is not reducing. Large-scale asset decline has led to increasing restlessness among shareholders. A Shareholder has threatened to initiate a class action suit against the group, a first of its kind in India’s capital markets. In the annual general meeting of Reliance Power, a shareholder even said that if the problems he had mentioned doesn't get resolve in next two to three months, he would file the country's first class-action suit against the group companies.
It is to be known that a class action suit is when a number of shareholders files petition together. This warning is indeed worrying for the Anil Ambani group. When the shareholder made this threat, many other shareholders who came to the annual general meeting of Reliance Power also supported this. The shareholder, who warned of a class action suit, described himself as a corporate lawyer.
The shareholder says that he has lost more than 90 per cent of his shares in three of the seven Reliance Group companies. He told that this amount is about 3 crores. When the shareholder was giving this warning, some company officials tried to stop him from doing so by citing rules, but Anil Ambani asked the shareholder to complete his talk. Let us tell you that Anil Ambani group has started the process of selling many of its assets in the past.
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