The markets regulator Sebi has prohibited industrialist Anil Ambani and 24 other entities, including former key officials of Reliance Home Finance, from participating in the securities market for five years due to the diversion of funds from the company.
Sebi has also imposed a ₹25 crore penalty on Ambani and barred him from any association with the securities market, including serving as a director or Key Managerial Personnel (KMP) in any listed company or as an intermediary registered with the regulator, for a period of five years.
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