SEBI Bans Anil Ambani and 24 Additional Firms from the Securities Market

SEBI has prohibited Anil Ambani and 24 other entities, including former Reliance Home Finance officials, from trading in the securities market for a period of five years due to cash diversion.

Due to the diversion of cash from the company, market regulator Sebi has prohibited entrepreneur Anil Ambani and 24 other companies, including top personnel from Reliance Home Finance, from trading in the securities market for a period of five years. Ambani has been fined Rs 25 crore by Sebi, and he has been barred for a period of five years from having any affiliation with the securities market, including as a director or Key Managerial Personnel (KMP) in any listed firm or market regulator-registered intermediary. Additionally, Reliance Home Finance was fined Rs 6 lakh by the regulator and prohibited from the securities market for a period of six months.