 Sebi Bans Anil Ambani and Imposes ₹25 Crore Fine Over RHFL Fraud

Sebi Fines Anil Ambani, Bans Him from Market for 5 Years

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[{"selector":"#anim-2af147cd-413d-42d8-b895-bd32982577f1","keyframes":{"transform":["translate3d(-105%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-189643d8-790a-47cf-a1ab-1b6f1762f1c8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9fdd0bd6-5a3c-45eb-b6c0-83e18662f809","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-df0009f5-6c0f-49e6-bdf7-7fd4357a7633","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-efa48435-1684-4e36-83ae-7206e7e54d28","keyframes":{"transform":["translate3d(105.33708%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3e7ed2db-d587-4f99-a01b-f030fa7224f0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8b8b8366-97b5-45bb-8de0-dd34249b0017","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Anil Ambani and 24 entities found involved in a fraudulent scheme. Funds diverted from Reliance Home Finance Ltd (RHFL). Why SEBI Took Action

[{"selector":"#anim-910fb87d-3f3f-4cc9-b71e-9f98ef4edfcb","keyframes":{"transform":["translate3d(-105%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d6b4f263-9090-4398-92d4-6e702b33099b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-22871acf-6776-40dc-b48b-58376ba1ae8a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-d499cdf8-2f95-4327-891f-c66f5b1bca6a","keyframes":{"transform":["translate3d(91.00257%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f9f01e35-1921-408c-b716-b5f7ddfea833","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7edab78b-52fd-4d63-8e20-91f1b6d77922","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-d78b237b-b05e-4285-9d4d-b8b6cd098d89","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Sebi imposes a ₹25 crore fine on Anil Ambani. Total penalty on Ambani and others exceeds ₹625 crore. Significant Fines

[{"selector":"#anim-39c16b63-38f2-48f7-ba82-aa67dea731a3","keyframes":{"transform":["translate3d(-105%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ee68f764-474a-449a-8fae-5f0319e0df58","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7bcdb774-0c7b-4fdf-857b-6a3bfd355ea2","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-9a9cae72-4363-4e8c-af6f-1a3144524a1a","keyframes":{"transform":["translate3d(107.05882%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-933e4083-87a9-4537-a12d-44931b6a9808","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-28ffd24c-f265-4ad1-a6a4-e047bc0da851","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-3fd1f7bc-e7c7-413b-8c45-a9d652f1e809","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Investigation revealed diversion of funds through General Purpose Working Capital (GPC) loans. Loans increased from ₹3,742.60 crore in FY 2017-18 to ₹8,670.80 crore in FY 2018-19. The RHFL Case

[{"selector":"#anim-516a823a-1e2c-4b12-a510-34022197598b","keyframes":{"transform":["translate3d(-105%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5576d293-ef7b-43de-a7c6-603aa01658f9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-88901234-e794-47d5-83b3-26d6e67ea8cc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-13c004ab-b6b4-42a4-bc88-0fb356cdad22","keyframes":{"transform":["translate3d(107.02247%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3078c4c4-fd46-4342-87b3-0dfceb1e8ceb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fe68ed01-3807-4636-9cf6-09f661f412b4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-12d30404-f416-4a7c-b959-aa0975cf092e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Loans given to weak financial entities without collateral. Loans approved and disbursed rapidly, often on the same day as the application. Fraudulent Activities Identified

[{"selector":"#anim-ddb0817a-6bc0-4b77-b3ac-25378d617227","keyframes":{"transform":["translate3d(-105%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1070d1df-7a50-441a-a296-065f980ffcd3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-451404d3-d9ae-49b9-b28f-102323b5d9a8","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-5ddf5faa-c50f-46a0-9579-a72981ba8b96","keyframes":{"transform":["translate3d(104.77528%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0ee9d470-3d51-4aec-b26e-8e6364d1626a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f4115a13-b0ad-4ac0-b12b-d43bca37c239","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-053cd853-28c1-4181-bc77-fcbf4455d350","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Approved 14 GPC loans totaling ₹1,472.16 crore in early 2019. Continued loan approvals despite a board directive to stop. Ambani's Involvement

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