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The Securities and Exchange Board of India (SEBI) has imposed a five-year ban on industrialist Anil Ambani and 24 other entities, including former officials of Reliance Home Finance, from participating in the securities market. The regulatory action is due to the diversion of funds from the company. In addition to the ban, SEBI has levied a penalty of Rs 25 crore on Anil Ambani. Furthermore, Ambani is barred from holding any Key Managerial Position (KMP) in any listed companies. This decision has led to a sharp decline in the shares of Reliance Power and Reliance Infrastructure.
#MarketsWithMC | Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market🚨 More details here 👇 https://t.co/3vUIPS17Cl #Stocks #StockMarket #Trading #AnilAmbani #Sebi https://t.co/hQ0Q9TXaEM
STORY | Sebi bans Anil Ambani, 24 other entities from securities mkt for 5-yrs READ: https://t.co/fayyNAdUKC https://t.co/xLpdqJi9kx
#MarketsWithBS | Shares of #AnilDhirubhaiAmbaniGroup companies saw a sudden fall in their prices in Friday's intraday trade. The decline came amid a report that #Sebi has barred #AnilAmbani from accessing capital #markets for five years. #sharemarket https://t.co/tyPJu0sdJp