Brief by Shorts91 Newsdesk / 06:57am on 23 Aug 2024,Friday Business
The Securities and Exchange Board of India (Sebi) has imposed a five-year ban on Anil Ambani and 24 others, including former Reliance Home Finance executives, from trading in the securities market. Sebi's 222-page order accuses them of a fraudulent scheme involving the diversion of funds from RHFL under the pretense of loans to related entities. Along with the trading ban, Sebi has fined Ambani ₹25 crore and barred him from holding any directorial or key managerial roles in listed companies or registered intermediaries for five years.
