2024-08-26 06:12:34
New Delhi: Industrialist Anil Ambani is reviewing the order of capital market regulator SEBI. He will take appropriate steps based on legal advice. His spokesperson said this on Sunday. The Securities and Exchange Board of India (SEBI) has banned Anil Ambani from the capital market for five years. The spokesperson said in the statement that Ambani had resigned from the board of directors of Reliance Infrastructure Limited and Reliance Power Limited to comply with SEBI’s interim order of August 11, 2022 in a case related to Reliance Home Finance Limited (RHFL).
Following the interim order for two and a half years
According to the statement, he has been complying with the said interim order (of February 11, 2022) for the last two and a half years. In its order dated August 22, SEBI had banned Anil Ambani and 24 others from the securities market for five years on charges of money laundering.
The spokesperson said, ‘Anil Ambani is reviewing the final order dated August 22, 2024 passed by SEBI in the said case and will take the next step as per legal advice.’
A fine of Rs 25 crore was also imposed
SEBI had also imposed a fine of Rs 25 crore on Ambani and said that he had hatched a scheme to siphon off funds from Reliance Home Finance, a listed subsidiary of the Reliance Group of which he is the chairman.
Under the ban, Anil Ambani and other 24 entities will not be able to transact in the securities market. They will be banned from buying, selling or otherwise transacting securities directly or indirectly.