Businessman Anil Ambani, brother of Mukesh Ambani, continues to face mounting challenges. After facing bankruptcy and receiving assistance from his brother Mukesh Ambani, Anil Ambani is now in trouble again, as one of his companies has been hit with a hefty penalty.
The Securities and Exchange Board of India (SEBI) has imposed a fine of ₹26 crore on Anil Ambani’s company, Reliance Big Entertainment, in connection with an alleged illegal cash diversion case. SEBI has warned that the company’s assets, including bank accounts, could be seized if the amount is not paid within 15 days.
Earlier, Reliance Big Entertainment Private Limited had failed to pay a penalty of ₹25 crore imposed in August. Now, SEBI has directed the company to pay ₹26 crore, which includes interest and collection charges, within the stipulated time.
The Case Details
In August, Anil Ambani and 24 others were accused of diverting funds from Reliance Home Finance Limited (RHFL). SEBI blacklisted them from the stock market for five years. Additionally, Anil Ambani was fined ₹25 crore and barred from serving as a director in any listed company for five years.
This penalty is the latest setback for Anil Ambani, as his financial and legal troubles show no signs of abating.
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