Sebi has banned Anil Ambani and 24 related entities from the securities market for five years, citing fund diversion involving Reliance Home Finance. Along with the market ban, Ambani has been fined Rs 25 crore. Reliance Home Finance faces a six-month securities ban and a Rs 6 lakh penalty, as regulators pursued compliance failures linked to diverted funds.
The Enforcement Directorate has alleged more than ₹11,600 crore as proceeds of crime in a money laundering probe involving Reliance Home Finance and Reliance Commercial Finance. The agency claims public funds were diverted through shell entities and that nearly 90% of corporate loans were routed to such companies. ED also arrested key functionaries Amitabh Jhunjhunwala and Amit Bapna for questioning.
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