L&T Finance and certain entities of Edelweiss Group between 4 and 7 February invoked pledge of Reliance Group’s shares and sold them in open market. Responding to the allegations Edelweiss Group said that the allegations were unfounded baseless and false. L&T Finance too refuted the allegations made by Reliance Group companies. Edelweiss and L&T Finance both said that there was nothing sudden about the share sale or lack of orderly disposal. L&T Finance said that despite various notices Reliance group companies continued to default.

Source: Mint February 08, 2019 11:08 UTC