According to company official, Anil Dhirubhai Ambani, the chairman of Reliance Group has resigned as the Director of Reliance Naval and Engineering Ltd (RNAVAL).
Based on a statement from company secretary Paresh Rathod, Ambani resigned in compliance with provisions of Section 165 of the Companies Act, 2013, prescribing the limit on directorships to only 10 Public Companies.
“Pursuant to Regulation 30 read with Schedule Ill Part A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Listing Regulations”), we hereby inform that Shri Anil D Ambani has resigned as Director of the Company with effect from August 25, 2018, in compliance with provisions of Section 165 of the Companies Act, 2013, prescribing the limit on directorships to only 10 public companies,” the statement stated.
Reliance Naval and Engineering Limited operates the country’s largest integrated shipbuilding facility and has obtained a license and contract to build warships.
It has the largest engineering Infrastructure in India and is one of the largest in the world.
Anil Dhirubhai Ambani is the chairman of Reliance Group (also referred to Reliance ADA Group). Ambani leads a large number of stock listed corporations including Reliance Capital, Reliance Infrastructure, Reliance Power and Reliance Communications.
Ambani’s Net Worth was $2.3 billion according to the Forbes billionaire list in the year of 2018.
