Suspense Crime Sach Ka Dam
Share market regulator SEBI on Wednesday issued notices to 6 companies including the promoter unit of Reliance Home Finance and asked them to pay Rs 154.50 crore. This notice has been given to the company regarding the misappropriation of funds. SEBI has asked these units to make the payment within 15 days. In case of failure to do so, the assets and bank accounts of these companies have been warned to be confiscated.
Notice has been sent to these companies.
The companies to which notices have been sent include Crest Logistics and Engineers Private Limited (now CLE Private Limited), Reliance Unicorn Enterprises Private Limited, Reliance Exchange Next Limited, Reliance Commercial Finance Limited, Reliance Business Broadcast News Holdings Limited and Reliance Cleangen Limited.
Each company will have to pay Rs 25.75 crore.
The demand notice has come after these companies failed to pay the fine. SEBI has directed all 6 companies in separate notices to pay Rs 25.75 crore each. This includes interest and recovery costs. In case of non-payment of dues, the regulator will recover the amount by confiscating and selling the movable and immovable assets of these units. Apart from this, their bank accounts will also be confiscated.
SEBI had imposed a fine of Rs 25 crore on Anil Ambani
In August this year, SEBI banned industrialist Anil Ambani, former key officials of Reliance Home Finance, and 24 other entities from the securities market for five years for misappropriation of funds from the company. The regulator imposed a fine of Rs 25 crore on Anil Ambani. He was also barred from holding any position of director or management level in any listed company or intermediaries registered with SEBI for five years. Along with this, SEBI banned Reliance Home Finance Ltd. (RHFL) from the securities market for 6 months and imposed a fine of Rs 6 lakh on it.
