Monday, September 25, 2023

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Anil Ambani barred from market for 3 months by Sebi

Market regulator Sebi late on Friday banned Anil Ambani, three of his associates and Reliance Home Finance, one of his former group companies, from the market for three months for misusing funds of the company and diverting it to other group entities to pay off debt.

Ambai and the others- Amit Bapna, Ravindra Sudhakar and Pinkesh R shah were also restrained from associating with any listed entities.

Sebi alleged that the company indulged in diversion of funds and mis representation of books of accounts and falsification of financial statements resulting in non-disclosure of true and fair information to the public at large.

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