Anil Ambani trading ban: Due to the diversion of funds from the company, billionaire Anil Ambani and 24 other entities, including former senior officers of Reliance Home Finance, have been prohibited from the securities market for a period of five years by the markets regulator Securities and Exchange Board of India (Sebi). Anil Ambani trading ban. Ambani faces a five-year ban from any associations with the securities market. It includes serving as a director or Key Managerial Personnel (KMP) in any listed firm or intermediary registered with the regulator. In addition to a penalty of Rs 25 crore levied by Sebi. Reliance Home Finance was also fined Rs 6 lakh by the regulator. It is prohibited from the securities market for six months. Sebi disclosed in its 222-page final ruling that Anil Ambani and senior RHFL executives had planned a fraudulent scheme to siphon off money from RHFL by pretending to lend it to firms affiliated with him. The management rejected the RHFL Board of Directors’ clear directives to stop such lending practices and to frequently evaluate company loans. Sebi came to the conclusion that Ambani and the RHFL KMPs were responsible for carrying out the fraudulent plan. It involved transferring money through conduit borrowers who were not creditworthy. They were all connected to Ambani.
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