• Source:JND
Add as a preferred

Anil Ambani Group Share: Shares of companies controlled by Anil Ambani plunged sharply on Friday after SEBI banned him and 24 other entities. On the NSE, the share price of Reliance Power plunged 5% to hit the lower circuit at Rs 34.48, while Reliance Home Finance Ltd fell 5.12% to Rs 4.45 and 4.90% to Rs 4.46 on the BSE. Shares of Reliance Infrastructure fell 10.83% to Rs 209.90 on the BSE.


The SEBI barred Anil Ambani and 24 others, including former key RHFL officials, from entering the securities market for five years for diverting funds from the company.

In the mid-session trade, the 30-share BSE Sensex was up 57.32 points or 0.07 percent at 81,110.51, while the NSE Nifty was up 29.35 points or 0.12 percent at 24,840.85.

On Thursday, Sebi banned 24 other entities, including former key RHFL officials and industrialist Anil Ambani, from the securities market for five years for the diversion of funds from the company.

Also Read: Sebi Bars Anil Ambani, 24 Others From Securities Market For 5 Years

Sebi has imposed a fine of Rs 25 crore on Ambani and banned him from association with the securities market for 5 years, including as a director or key management personnel of any listed company, or as any intermediary registered with the market regulator.

The regulator also banned RHFL from the securities market for six months and imposed a fine of Rs 6 lakh.

Passing a final order in the RHFL matter, SEBI found that Ambani, with the help of key management personnel of RHFL, hatched a fraudulent scheme to siphon off funds from RHFL by disguising loans to entities associated with him.

In February 2022, market watchdog Sebi issued an interim order barring RHFL, Ambani, and three others (Amit Bapna, Ravindra Sudhakar, and Pinkesh R Shah) from the securities market for allegedly siphoning off funds from the company until further orders.

Also Read: Ambuja Cements Share Price Up 4% On Block Deal News; Adani Group To Sell 3% Stake