Anil Ambani resigned as director from the boards of Reliance Infrastructure Ltd and Reliance Power Ltd on Friday evening, a month after the Securities and Exchange Board of India (Sebi) ordered him and other directors of Reliance Home Finance Ltd to resign from any listed business with immediate effect.

Also read: SEBI imposes Rs 5 lakh penalty on Axis Bank for violating regulations

The two firms stated in exchange filings that “the board looks forward to an early closure of the matter and inviting Mr. Ambani back to provide his vision and leadership to the company in the interest of all stakeholders.”

“The board noted that during the past year, the company has created immense value for its around 800,000 shareholders with the stock price increasing from a low of Rs. 32 to a high of Rs. 150,” according to the exchange filing, Reliance Infrastructure. Reliance Power attributed Ambani’s leadership to the stock’s rise from a low of Rs. 4 to a high of Rs. 19 in a year.

Also read: Indian bulk diesel purchasers rush to secure supplies from retail outlets

The regulator barred Ambani, Amit Bapna, Ravindra Sudhalkar, and Pinkesh R. Shah from engaging with any listed business, acting as their directors, or associating with any market intermediary in an interim ruling issued on February 11 in the case of Reliance Home Finance Ltd.

“Noticees are hereby restrained from associating themselves with any intermediary registered with Sebi, any listed public company or acting as Directors/promoters of any public company which intends to raise money from the public, till further orders,” Sebi stated in its order dated February 11th.

The instructions were issued based on Sebi’s findings involving Reliance Home Finance’s (RHFL) loan dealings.

Also read: Reliance takes control of 200 Future Group stores, including Big Bazaar

The case involves irregularities in a general-purpose corporate loan of Rs 8,470.65 crore given by RHFL to related firms.

Rahul Sarin was appointed as an Additional Director in the capacity of Independent Director for a term of five years on the boards of RPower and RInfra on Friday, subject to approval of members at the general meeting, according to the two Reliance Group firms.

The business’s board of directors unanimously reposed full trust in Ambani’s leadership and invaluable contribution to leading the company through great financial hurdles and potentially debt-free in the coming fiscal year, according to the firms.

Rahul Sarin, 72, a civil servant with over 35 years of excellent public service, retired as Secretary to the Government of India.

Sarin is currently a director of Afthonia Private Limited.