Sebi Imposes Penalty on Anmol Ambani Over Loan Approvals in Reliance Home Finance Case

The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 1 crore on Anmol Ambani for failing to exercise due diligence while approving corporate loans in the Reliance Home Finance case. Additionally, Rs 15 lakh was fined to Chief Risk Officer Krishnan Gopalakrishnan for similar lapses.

The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 1 crore on Anmol Ambani, son of industrialist Anil Ambani, for failing to exercise due diligence in approving general-purpose corporate loans in the Reliance Home Finance matter.

Additionally, Sebi fined Krishnan Gopalakrishnan, the Chief Risk Officer of Reliance Housing Finance, Rs 15 lakh. Both individuals have been instructed to pay the fines within 45 days, according to the regulator's order.

This decision is part of a larger investigation initiated by Sebi in August, which also resulted in a five-year ban for Anil Ambani and 24 others from the securities market, as well as a Rs 25 crore fine for Anil Ambani. Sebi highlighted that Anmol Ambani approved a Rs 20 crore loan after the board explicitly instructed against it, reflecting a lack of due diligence and ethical standards.

(With inputs from agencies.)