Sebi Cracks Down on Reliance Big Entertainment: Bank Accounts Attached for Rs 26 Crore Dues

Sebi has taken stringent action against Reliance Big Entertainment by ordering the attachment of its bank, demat accounts, and mutual fund holdings to recover Rs 26 crore in dues. The move follows a notice issued in November regarding illegal fund diversion by Reliance Home Finance Ltd.

The Securities and Exchange Board of India (Sebi) has intensified its crackdown on Reliance Big Entertainment by attaching the firm's bank accounts and investment holdings. This decisive action aims to recover dues amounting to Rs 26 crore, owed to Sebi due to a case of illegal fund diversion.

Reliance Big Entertainment, now Rbep Entertainment Pvt Ltd, had previously received a notice from Sebi on November 14 demanding immediate payment. The entity's failure to comply has led to an escalated enforcement approach, targeting various financial assets.

Sebi's broader action against associated entities and individuals, including Anil Ambani, underlines its commitment to maintaining transparency in the securities market. With penalties and restrictions imposed, Sebi sends a clear message regarding financial misappropriations.

(With inputs from agencies.)