Bad news for Anil Ambani as Sebi imposes Rs 10000000 fine on his son Jai Anmol Ambani due to…

Markets regulator Sebi on Monday imposed a penalty of Rs 1 crore on Anmol Ambani, who is a son of industrialist Anil Ambani, for his failure to exercise due diligence while approving general-purpose corporate loans in Reliance Home Finance matter.

The regulator levied a fine of Rs 15 lakh on Krishnan Gopalakrishnan, who was the Chief Risk Officer of Reliance Housing Finance. Both have been asked to pay the amount within 45 days, the Securities and Exchange Board of India (Sebi) said in its order.

Both Anmol Ambani and Gopalakrishnan violated the provisions of Sebi’s LODR (Listing Obligations and Disclosure Requirement) rules.