Following a market regulator's ruling prohibiting him from participating with any listed firm, Reliance Group Chairman Anil Ambani resigned as director of Reliance Power and Reliance Infrastructure on Friday.

In a regulatory filing, Reliance Power said that non-executive director Anil D Ambani "steps down from the board of Reliance Power in line with SEBI (Securities and Exchange Board of India) interim decision."

"In the interest of all stakeholders, the Board looks forward to an early resolution of the matter and inviting Mr. Ambani back to provide his vision and leadership to the Company," it continued, noting that "the company has created immense value for its over 36 lakh shareholders with stock price increasing from a low of Rs. 4 to a high of Rs. 19 (375 percent)" over the past year.

Reliance Infrastructure announced in a separate filing to the stock exchange that Anil Ambani had stood down from the board of directors "in line with SEBI interim ruling." Reliance Infra said that over the previous year, the firm has created enormous wealth for its approximately 8 lakh stockholders, with the stock price rising from a low of Rs 32 to a high of Rs 150 (469 percent.

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