SEBI bars Anil Ambani, others from market for 3 months, here’s why
Zee News
The three others barred by SEBI are Amit Bapna, Ravindra Sudhakar and Pinkesh R Shah.
New Delhi: Securities and Exchange Board of India (SEBI), on Friday (February 12), barred Reliance Home Finance, its promotor and industrialist Anil Ambani and three others from buying, selling or dealing in securities.
The restricted cannot deal in securities either directly or indirectly, in any manner whatsoever until further orders, SEBI noted. The decision to restrain Ambani and others individuals from the securities market was taken for allegedly siphoning off funds from the company. The three others are Amit Bapna, Ravindra Sudhakar and Pinkesh R Shah.
In a 100-page interim order, SEBI also noted that the individuals will not be able to associate “themselves with any intermediary registered with Sebi, any listed public company or acting directors/ promoters of any public company which intends to raise money from the public till further orders."
