- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Days after Sebi ban, Anil Ambani-led firms' shares hit lower circuit limits, investors continue to...
Sebi has banned Anil Ambani from the securities market for five years on charges of diversion of funds.
Updated : Aug 27, 2024, 08:09 PM IST
 "Days after Sebi ban, Anil Ambani-led firms' shares hit lower circuit limits, investors continue to...")
TRENDING NOW
)
Shruthi Narayanan lashes out at netizens for 'spreading' her leaked MMS, warns legal action: 'Go and enjoy your mother, sister videos'
)
Sikandar box office collection day 7: Salman Khan, Rashmika Mandanna film fails to cross Rs 100 crore mark by...
)
Casting couch scandals resurface: Tamil actress Shruthi Narayanan's viral video sparks fresh debate in film industry
)
SRH vs GT IPL 2025 Dream11 prediction: Fantasy cricket tips, probable playing XIs, team news, injury updates for Sunrisers Hyderabad vs Gujarat Titans
)
Throwback video: Mukesh Ambani would want to go on date with this actress, while Nita Ambani with this politician
)
Forget Aabha Paul, check out 5 hot pics, videos of Kangana Sharma
)
After leaked casting couch video, Shruthi Narayanan's old statement about social media goes viral: 'You can't share everything, it might...'
)
Meet OYO founder Ritesh Agarwal's wife Geetansha Sood, supported him when he had only Rs 30 in his pocket, she is director of...
)
Who is Rishi Parti, man who bought most expensive penthouse at Gurugram's DLF Camellias for Rs 190 crore, built company at 24, his business is...
)
Meet Chandrakumari Raghuram Shetty, wife of BR Shetty, Dubai billionaire who had to sell his company for just Rs 74
)
Panchayat Season 4 release date: Jitendra Kumar aka Abhishek Tripathi is back as Sachiv ji; Prime Video's hit show to release on...
)
10 most handsome men in the World: This BTS member beats Hrithik Roshan, Chris Evans, Brad Pitt
)
XXX actress Aabha Paul looks sizzling in sexy photos
)
This superstar 'lost control' during intimate scene with Madhuri Dixit, bit her lip, left her bleeding, in tears, film became superhit, it was..
)
'You don't have image or talent': Meet 'average actor' who was insulted by Rishi Kapoor, he later became star with.., has net worth of...
Since market regulator Sebi barred industrialist Anil Ambani, brother of Mukesh Ambani, from the securities market, shares of his firms have been declining. Even on Tuesday, shares of Reliance Power and Reliance Home Finance Ltd continued to hit their lower circuit limits.
The stock of Reliance Power tumbled 4.98 per cent to Rs 31.10 -- its lower circuit limit -- on the BSE. Shares of Reliance Home Finance Ltd dropped 4.95 per cent to hit the lower circuit limit of Rs 4.03. However, the stock of Reliance Infrastructure ended 0.68 per cent higher at Rs 207.85.
Shares of Reliance Home Finance Ltd, Reliance Power, and Reliance Communications had hit their lower circuit limits on Monday as investors continued to desert the counters. Reliance Infrastructure, Reliance Home Finance, and Reliance Power had slumped on Friday also. The stock of Reliance Home Finance and Reliance Power had hit lower circuit limits on Friday.
Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from serving as a director or key managerial personnel (KMP) in any listed company or Sebi-registered entity for five years. It banned him from the securities market for five years on charges of diversion of funds.
READ | Rare Apple computer, that Steve Jobs was about to throw away, sells for Rs 26000000 in...
Besides, a fine ranging Rs 21-25 crore has been levied on 24 entities. Also, the regulator barred Reliance Home Finance from the securities market for six months and slapped a fine of Rs 6 lakh on it.
In its probe, Sebi found that Anil Ambani, with the help of RHFL's KMPs -- Amit Bapna, Ravindra Sudhalkar and Pinkesh R Shah -- have orchestrated a fraudulent scheme to "siphon off" funds from RHFL by disguising them as loans to entities linked to him.
(With inputs from PTI)
