SEBI Banned Anil Ambani, Imposed Fine: Anil Ambani was banned by SEBI for 5 years, also imposed a fine of 25 crores

New Delhi. Anil Ambani, who was once a big businessman of the country, has received a big blow from the market regulator Securities and Exchange Board of India (SEBI) today. SEBI has banned Anil Ambani and 24 other organizations for 5 years. Not only this, SEBI has also imposed a fine of 25 crores on Anil Ambani. SEBI has imposed a fine of 6 lakhs on Anil Ambani’s company Reliance Home Finance for fund manipulation and this company has also been banned for 6 months.

Anil Ambani, who is already surrounded by all kinds of financial problems, has now faced a new problem. Anil Ambani will now not be able to join the securities market as a director or key managerial personnel in any listed company or any SEBI registered intermediary for the next 5 years. The order issued by SEBI said that Anil Ambani had hatched a fraudulent scheme to withdraw funds from RHFL with the help of key top officials of RHFL. Anil Ambani wanted to transfer this fund under the guise of a loan.

SEBI also said that Anil Ambani took advantage of his position as the head of Anil Dhirubhai Ambani Group and his shareholding in RHFL’s holding company to execute this scheme. However, RHFL’s board of directors had questioned the methods of giving such loans and had also issued strict instructions to stop this process. But the company management ignored these orders. On the other hand, Anil Ambani has got another shock after the news of action by the market regulator Securities and Exchange Board of India. As soon as the news of the ban came, the shares of Anil Ambani’s company Reliance Power have fallen sharply.