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Reliance Home Finance Announces Board Meeting for Financial Results

Mumbai, July 29, 2024 — Reliance Home Finance Limited has announced an upcoming Board of Directors meeting scheduled for August 5, 2024, to review and approve the company's unaudited financial results for the quarter ended June 30, 2024.

Key Details of the Announcement

Introduction

Reliance Home Finance Limited has formally notified the stock exchanges about the upcoming Board meeting, following the requirements laid out by the Securities and Exchange Board of India (SEBI). This meeting will review and approve the company's financial performance for the recent quarter.

Board Meeting Schedule

• Date: August 5, 2024
• Purpose: To consider and approve the unaudited financial results for the quarter ended June 30, 2024.

Compliance and Regulatory Adherence

SEBI Regulations

The announcement complies with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about board meetings where financial results are to be considered.

Uniform Listing Agreement

The company has adhered to the Uniform Listing Agreement with the stock exchanges, ensuring full compliance and transparency with its investors and stakeholders.

Financial Performance Review

Unaudited Financial Results

The meeting will primarily focus on reviewing the unaudited financial results for Q1 FY2024-25. This will provide insights into the company’s financial health and operational performance for the quarter ending June 30, 2024.

NSE Investigation and SEBI Order

SEBI Action Against S.P. Natural Eco-Green Projects (India) Limited

On the same day, SEBI issued an order against S.P. Natural Eco-Green Projects (India) Limited, restraining them from accessing the securities market and prohibiting their involvement in any market activities for two years. This action was taken due to violations of SEBI regulations and failure to refund investors.

Detailed SEBI Order Information

SEBI's Directive

• Entities Involved: S.P. Natural Eco-Green Projects (India) Limited and its directors.
• Actions Taken: Prohibition from accessing the securities market, issuance of prospectus, and solicitation of public funds.
• Duration: Two years or until six months after investor refunds are completed, whichever is later.

Background of the Case

SEBI's investigation revealed that S.P. Natural Eco-Green Projects (India) Limited had engaged in fund mobilization activities without complying with SEBI regulations. This included issuing redeemable preference shares without proper disclosures or permissions.

Investor Refund Process

SEBI has directed the involved parties to refund the collected amounts to investors with interest and has provided a detailed order on how to proceed with these refunds. For more information, refer to the SEBI website here.

Conclusion

Reliance Home Finance Limited's upcoming Board meeting on August 5, 2024, will provide crucial insights into the company's quarterly performance. This move aligns with SEBI regulations, ensuring transparency and compliance. Meanwhile, SEBI's strict action against S.P. Natural Eco-Green Projects (India) Limited highlights the importance of regulatory adherence in the securities market.