Anil Ambani Finally Thought: This Is How He Will Break The SEBI Ban

Anil Ambani, the richest man in the country and younger brother of billionaire industrialist Mukesh Ambani, is facing a ban from market regulator SEBI these days. Now his company spokesperson has made a big statement on how he will circumvent the SEBI ban and what decision he will take in the future. The Securities and Exchange Board of India (SEBI) has banned Anil Ambani from dealing in the capital market i.e. the stock market for 5 years.

SEBI had issued the ban order against Anil Ambani on August 22 this year. Along with him, 24 others have been banned from trading in the stock market for five years.

Anil Ambani will break

Anil Ambani’s spokesperson said that he is reviewing the order of market regulator SEBI. He will take necessary legal advice in this regard and then take appropriate action on that basis. He will break the ban on working in the securities market through a legal process.

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He had resigned two and a half years ago.

Anil Ambani’s spokesperson said in a statement that SEBI had issued an interim order on August 11, 2022, in a case related to Reliance Home Finance Limited (RHFL). To comply with this, Anil Ambani had resigned from the board of directors of Reliance Infrastructure Limited and Reliance Power Limited. He has been following this interim order for the last two and a half years. SEBI on August 22 ordered further action in this matter. In this case, Anil Ambani and 24 others were debarred from the securities market for five years on charges of embezzlement.

A fine of Rs 25 million has been imposed.

SEBI also imposed a fine of Rs 25 crore on Anil Ambani, who has filed for bankruptcy. It also said that he was the one who had planned to embezzle money from Reliance Home Finance. Reliance Home Finance is a listed subsidiary of Reliance Anil Dhirubhai Ambani Group, of which he is the chairman. Under the ban, Anil Ambani and 24 others will not be allowed to transact in the stock market. They will also be prohibited from buying, selling or engaging in any other kind of transaction, directly or indirectly, in shares.