Anil Ambani, others fined Rs 624 crore by Sebi for fund diversion

0

Markets regulator Sebi banned Anil Ambani and 24 entities connected to him from the securities market for five years, levying a Rs 624 crore fine for fund diversion from Reliance Home Finance. Sebi’s investigation revealed the fraudulent scheme involved GPC loans, with the majority of borrowed sums linked to ADAG Group entities.