Anil Ambani banned from capital markets for five years by SEBI.
Market regulator SEBI has barred Anil Dhirubhai Ambani from capital markets for five years and imposed a fine of Rs 25 crore on him for siphoning off funds from Reliance Home Finance.
SEBI has banned key officials of Reliance Home Finance and 27 other entities from the capital markets.
Anil Ambani will not be able to hold any position such as directorship or key managerial role in any listed company or any intermediary registered with SEBI for a period of five years.
The market regulator imposed a total fine of Rs 6 lakh on Reliance Home Finance and also barred it from the securities market for six months.
SEBI has asked the entities to pay the fine within 45 days of receiving the order.
Noticee No. 1 (RHFL) is prohibited from accessing the securities market and from buying, selling, or dealing in securities, directly or indirectly, for 6 months from the date this order takes effect.
Additionally, RHFL is barred from any association with the securities market in any manner during this period.
RHFL offers home loans, loan against property, construction finance etc. as a part of its business.
