anil ambani sebi ban: Ambani banned from stock market .. SEBI action order! – sebi bars anil ambani reliance home finance and three others from securities market

SEBI has banned businessman Anil Ambani and Reliance Home Finance from entering the securities market.

SEBI has banned Anil Ambani, brother of Mukesh Ambani, India’s richest man, and Reliance Home Finance, Amit Babna, Ravindra Sudhakar and Bingesh Shah in the securities market.

SEBI has imposed the ban following allegations that it took money from Reliance Home Finance. SEBI has sent notices to a total of 28 individuals and companies in this regard.

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SEBI has said that all banned persons, including Anil Ambani, who are registered with SEBI, companies listed on the Stock Exchange, their directors and promoters should not be contacted.

In this regard, SEBI will investigate the loans made by Reliance Home Finance to some companies in 2018-19. SEBI has imposed an interim injunction on Anil Ambani and others pending the start of the probe.