Anil Ambani and 24 Others Barred from Securities Market for 5 Years

SEBI imposes fines and penalties for orchestrating a fraudulent scheme to siphon off funds from Reliance Home Finance Ltd.

Anil Ambani fined Rs 25 crore and prohibited from holding any market-related positions for five years.
Reliance Home Finance Ltd and 24 other entities also face penalties and market bans.
SEBI uncovered a scheme involving loans to credit-unworthy borrowers linked to Ambani.
The fraudulent activities led to significant financial losses for public shareholders.
Reliance Home Finance's share price plummeted from Rs 59.60 to Rs 0.75 over two years.