After SEBI’s ban from the stock markets, Anil Ambani is now reviewing legal options. Anil Ambani’s spokesperson has said this in a statement. The spokesperson said that Anil Ambani had resigned from the post of Board of Directors of Reliance Infrastructure and Reliance Power as per SEBI’s interim order of February 11, 2022 in the case of Reliance Home Finance. Will take appropriate action against SEBI’s order
Also, he has been complying with the interim order for the last two and a half years. In this case, Ambani is reviewing the final order of August 22 passed by SEBI and will take the appropriate next step as per legal advice. ‘ SEBI bans Anil Ambani from stock market for 5 years
On August 22, market regulator SEBI has banned industrialist Anil Ambani from the security market (stock market, debt, derivatives) for 5 years in the case of fund misappropriation. Ambani has also been fined Rs 25 crore. He has also been banned from being a director in any listed company. SEBI has also banned 24 other entities including former chief officials of Reliance Home Finance (RHFL) from the stock market. Different fines have been imposed on them. Reliance Home Finance Company has been banned for 6 months and a fine of Rs 6 lakh has been imposed. According to the 222-page final order issued by SEBI, the investigation revealed that Anil Ambani misappropriated the money with the help of RHFL officials. He used the funds himself, but showed that this fund was given as a loan. 4 big things related to SEBI’s order… Reliance Infra’s share fell by about 11%, Power fell by 5%
After SEBI’s ban, Anil Ambani’s companies Reliance Infra, Reliance Home Finance and Reliance Power fell on Friday (23 August). Reliance Infra fell the most by about 14%, Reliance Home Finance by 5.12% and Reliance Power by 5.01%. Anil joined Reliance in 1983, the split happened in June 2005 Four months ago, the order for payment of ?8,000 crores to Reliance Infra was rejected On April 10, the Supreme Court rejected the demand of Anil Ambani’s company Delhi Airport Metro Express for payment of around ?8,000 crores from Delhi Metro Rail Corporation. Delhi Airport Metro Express is a subsidiary of Anil Ambani’s company Reliance Infrastructure. After this order of the Supreme Court, the shares of Reliance Infra fell by 20%. Read the full news here…
