Anil Ambani resigned from board of reliance Infra…
anil ambani, who is facing action by SEBI, has resigned from the boards of reliance Infrastructure and reliance Power. Anil Ambani's spokesperson informed about his decision on Sunday. Also told that he is studying the decision of SEBI. Legal action can be taken against it when the time comes. SEBI has imposed a ban of 5 years and a fine of Rs 25 crore on anil ambani for misappropriation of funds of reliance Home Finance. Along with this, a fine has also been imposed on him and several former officials of reliance Home Finance.
anil ambani will take the right decision when the time comes
Anil Ambani's spokesperson said that after SEBI's interim order of february 11, 2022, he had distanced himself from reliance Infrastructure and reliance Power. He has been following that order continuously for two and a half years. Now SEBI has imposed a ban against him in the order given on 22 August. The spokesperson said that we are considering all the aspects. The right decision will be taken when the time comes.
6-month ban imposed on reliance Home Finance
On the basis of its investigation, SEBI had said that anil ambani had run a fraud scheme. Some officials of reliance Home Finance also supported him in this. All of them together have manipulated the money of the public listed company. According to SEBI, reliance Home Finance gave loans to ineligible companies associated with the promoter. Due to this, it became an NPA later and the financial condition of the company deteriorated. SEBI has also imposed a 6-month ban on reliance Home Finance. anil ambani cannot be a director or hold any important position in any listed company for 5 years.
reliance Infra and Power said - business will not be affected
reliance Infrastructure has said in its statement that no instructions were given against reliance Infrastructure. According to SEBI's interim order, anil ambani had separated himself from the company. The order given by SEBI on august 22 will not have any effect on the business and other matters of reliance Infrastructure. On the other hand, reliance Power has also cited the same reason in its statement. Shares of reliance Infrastructure closed down 10.99 percent at Rs 209.99 on Friday. At the same time, shares of reliance Power closed at Rs 34.48 after hitting a lower circuit.
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