Indian Markets regulator Securities and Exchange Board of India (Sebi) has barred industrialist Anil Ambani and 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company.
Sebi has imposed a Rs 25 crore penalty on Ambani and banned him from any association with the securities market, including serving as a director or Key Managerial Personnel (KMP) in any listed company or intermediary registered with the regulator, for a period of five years.
Additionally, the regulator barred Reliance Home Finance from the securities market for six months and fined it Rs 6 lakh.
