Business and Finance Business and Finance
Mon, December 2, 2024
[ 01:00 PM ] - Bill Williamson
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Sebi issues attachment order for Anil Ambani's Reliance Big Entertainment

Sebi issues attachment order for Anil Ambani's Reliance Big Entertainment


Published on 2024-12-02 08:31:06 - Bill Williamson, WOPRAI
  Print publication without navigation

  • In its order, Sebi directed the attachment of all accounts, lockers, and proceeds due, along with freezing any debits from the accounts

The Securities and Exchange Board of India (SEBI) has issued an attachment order against Anil Ambani's Reliance Big Entertainment (RBE) for failing to pay a fine of Rs 1.01 crore. This fine was imposed due to RBE's non-compliance with SEBI's disclosure norms, specifically for not disclosing the invocation of pledged shares by lenders. The attachment order targets all bank accounts, demat accounts, and mutual fund holdings of RBE, prohibiting any debits while allowing credits. This action follows a series of regulatory measures against RBE, including a previous attachment order in 2022 for a similar issue. The latest order was issued after RBE did not pay the fine within the stipulated time, prompting SEBI to enforce the recovery of the penalty.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/companies/news/sebi-issues-attachment-order-for-anil-ambani-s-reliance-big-entertainment-124120200909_1.html ]
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