Sebi's Major Crackdown on Anil Ambani-Led Firms

Shares of Anil Ambani's companies plummeted after Sebi banned him and 24 others from the securities market for five years on charges of fund diversion from Reliance Home Finance Ltd. The investigation revealed fraudulent schemes to siphon off funds, leading to significant penalties and market restrictions.

On Monday, shares of Anil Ambani-led firms, including Reliance Home Finance Ltd, Reliance Power, and Reliance Communications, hit their lower circuit limits. This market reaction came following Sebi's decision to bar the industrialist and 24 others from the securities market for five years due to fund diversion allegations against Reliance Home Finance Ltd.

Reliance Power’s stock fell by 4.99 per cent to Rs 32.73, while Reliance Home Finance Ltd's shares tumbled 4.93 per cent to Rs 4.24. Similarly, Reliance Communications' shares plunged 4.92 per cent, hitting Rs 2.32. The stock of Reliance Infrastructure also saw a decline of 2.90 per cent, reaching Rs 205.55.

This setback for Ambani's firms is compounded by a penalty of Rs 25 crore on Ambani and a restriction on serving as a director for five years. Sebi also fined 24 other entities, ranging from Rs 21 crore to Rs 25 crore, and barred Reliance Home Finance from the securities market for six months, alongside a fine of Rs 6 lakh.