fund diversion

India News

Anil Ambani Faces Major Setback as SEBI Bans Him from Securities Market

Anil Ambani, a prominent figure in Indian business and chairman of the Reliance Group, was recently barred from the securities market for five years and fined approximately $3 million by the Securities and Exchange Board of India (SEBI) on charges related to the diversion of funds. Ambani responded by stating that he is reviewing the order and will take the…